Have not been following Gas and Oil leasing in different counties in Ohio for the last several months. Does anyone know what Harrison County is going for ... The last time I heard several months ago, was around $7,000 per acre . After a major victory we will be represented by a law firm looking for leasing . Just trying to find out if leasing has when up or down ? ... thanks for any info.
Dennis, did the Supreme Court decide in your favor? That's fantastic!
Ruling came out last Thursday on the Supreme court web page . . all we had to do win one of the 2 questions . We won on the second question ruling . God is Good .
Yes He is... Congratulations!
There is no major leasing going on in Harrison County at this time, so it appears that you have won a pyrrhic victory. If leasing does return to Harrison, along with the other areas of West Virginia, I wouldn't base my decision to lease on unfounded rumors of what you have heard is being paid. Most of the time, those rumors are wishful speculation. Tell the leasing representative what you want, but I believe that a decision on what you may have heard is being paid is a waste of everyone's time. Properties-even a mile or two from each other could vary, based on the underlying geology. For that reason, all of Harrison County may not be the same price.
Last fall leases in Belmont County were $7,000 to $8,000/ acre; I have heard that this year they are only leasing land they want to drill and are offering 2 to 3 year leases for $2,000 to $3,000/acre. I would expect that Harrison County is also in that ballpark.
If you can wait, I would advise waiting for things to pick up in 2 or 3 years; you will do better then than leasing at the bottom of the market now.
Last week had a landman from Ascent tell me that prices in Harrison are about 3000/acre.
That may or may not be what Ascent would offer, if anything. If they haven't contacted you as yet, it may mean that they are not interested in your area. I will say it one more time-Harrison is a big county. Companies have geophysical data telling them where the shale is thickest and where they have the best chance of a producing well. It would be unlikely that all of Harrison County, or any county for that matter, would fit that criteria. You may contact Ascent yourself and see if the $3K per acre is real or not, but I stand by my previous statement that there is no active leasing going on in Harrison for a drilling project. There may be some clearing up of heirships and due diligence, but go the WVDNR website and see what permits have been filed for Harrison and when. (They are good for 2 years). ( https://apps.dep.wv.gov/oog/permitlist_new.cfm )This year, while there are 232 entries, for 2015, most of them are re-work, secondary recovery and plugging, with nothing on file for Ascent Resources.
Ken, sorry...that was Harrison cty Ohio.
Thank you...for some reason this came up on my WV alerts. The OH DNR page is http://oilandgas.ohiodnr.gov/ All the best!
The much bigger companies are still leasing ...most land leasing in Harrison , Belmont and Jefferson counties have been lease , Don't know what the percentage would be ? It not that leasing has slow down , but most land owners have lease their land . Just haven't heard lately the going rate ? If anyone out there have heard , give a reply back .