Has anyone, that is leased with AEU, re-leased with them or heard any news about anything from them?
Any thoughts what might AEU be doing in the future in Guernsey Co., Londonderry township?
Leased 4 years ago and not a peep from them.
My minerals are supposidly in "the hot spot".
Very happy to hear this worked out for you. congrats.
Thanks everyone for the congrats!
Hoping for the very best for all of you.
I hope you have the same outcome with Ascent and any and all of the other o/g companies, when your renewal time comes around!
Y'all deserve it!
Best of Luck!
I'm happy for you. And good job, waiting it out. I'm sorry to say that I know a few people in Guernsey county, that had signed the same lease you did back about 5 years ago, that took Halo's bullcrap offer and are now stuck with it, If they only waited another month, they would've probably been in your shoes about now.
I bet you are right about the others!
We just felt that Acent would come through, being in the location we are, and really had nothing to lose by waiting.
We felt some other gas company would have picked us up and if not, we would just wait until someone did.
It was a gamble and it paid off.
Have you heard anything from Ascent about your lease?
If not, I bet they will just send you a certified letter, like we received yesterday.
We got ours a month before the 5 years was up.
Keep believing and it will happen.
Thanks for helping us stay strong------you do the same!
Based on the limited information I would guess that you would be renewed at the original terms of your lease, which probably give the producer the option of an additional 5 year term at the same price paid originally and some leases offer an additional 10% on top.
If I had a larger sized interest such as yourself and there is ample room around me to create a big unit or units I would probably wait. This market is not a great time to make decisions that are going to cost you in the longer term.
I looked into one persons situation and found that there were two units drilled on either side of him, leaving only a sliver of room in between which would not be drilled by any new pad due to the smaller size.
The properties in between the units are effectively held by production because they only way they get drilled is from the pads on the units on either side.
If I had 70 acres I would pay a lawyer or some other knowledgeable person for a professional opinion before I made a decision.
For what it is worth I have begun talking to law firms to audit my royalty statements for shortages as we received our division orders last week.
Thank you for your thoughts.
I was just releived Ascent renewed the original lease, which we felt was a fair lease to begin with.
I am sure that there was a chance to wheel and deal with Ascent or anyother interested party but the time, stress and cost of an attorney, wasn't worth attempting it.
I am very grateful for the renewal and will leave the what if's, behind me.
Here's hoping they drill some time in this five years! LOL!
I would have never believed, that a piece of property, bought 50 years ago, would turn into this great fortune(in my eyes)
And Dad, I thank you!
Well played NC man. Congratulations on your victory.
Was just through your state twice last week. Love the Pilot Mountain region.
It's a good feeling knowing we did what we felt was the way to go and succeeded!
Was just in Pilot Mtn. area a few weeks ago.
We live east of that area.
Just taking a drive and ended up eating at a really good bbq in Mt. Airy.
Our state is beautiful wherever you travel.
From the mountains to the sea shore and everything in between!