Belmont County Activity

Recently this group has a bunch of new members but still has very little activity. How about ALL members sharing what they know is happening in Belmont County. Have you or any of your neighbors signed a lease? Have you or your neighbors been approached with any lease offers? Do you know of any landowner groups in Belmont County? What issues have you had to deal with in this process? Is anyone looking a pipeline right-of-way leases? What terms do you want in your lease when you do finally sign and why? The more information we share here with each other, the better prepared we will all be when we do sign leases and cash in on the mineral wealth under our lands in Belmont County.
Finnbear

PS - I am participating in the Smith-Goshen Landowners group, a landowner based, non-profit group. See http://hcolg.org/HowItWorks.html for an explanation of what a landowner non-profit is and how it works.

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Replies to This Discussion

Permalink Reply by ScottM on January 18, 2012 at 6:09pm

Mickgyver,

I'm also a member of the S-G group. Any recent news you would be willing to share? 

Permalink Reply by Mickgyver on January 18, 2012 at 8:32pm

Hello scott ,I have nothing new more than what finnbear posted ,I was just avoiding posting on this part of the site because of the  limits on group posting here, im not sure what your allowed to discuss on this section versus the group part of the site .

Permalink Reply by Finnbear on January 19, 2012 at 2:13pm

ScottM

Are you on the email list for S-G?

Permalink Reply by ScottM on January 19, 2012 at 5:11pm

I am. Thought maybe from Mickgyver's post he had some inside info. I completely understand not divulging too much info in this forum as the group committee is still in the process of finalizing all they have. It's just the lack of ALL information and the WAIT on a concrete lease signing leaves one anxious...

Permalink Reply by Finnbear on January 19, 2012 at 5:42pm
I think we're all in the same boat - waiting impatiently. I do call or email Larry C. abpout once a week with anything I uncover that may be helpful and any questions I have.
Permalink Reply by Finnbear on January 17, 2012 at 3:28pm

The group is still limited to Belmont County. Membership is closing Jan 18th as it is time to move forward with the process.

The rest is my opinion but reflects reality. Our lease is written and our acreage package is in the process of being verified so that final mapping may be done. With a group lease document and a confirmed acreage package, it should be easy to evaluate offers from prospective oil and gas companies as all will be bidding on a level playing field. The group can now approach the next phase as "Here are our terms, here is our acreage, submit your bids accordingly". Any other S-G members here feel free to let me know if I'm wrong about this.

bill - I tried to send you a private message about this but your profile does not allow friend requests

Permalink Reply by valerie a white on October 4, 2011 at 4:41pm

I recently purchased 5.5 acres land in Belmont, contingent to several larger parcels who sold to Gulfport through Patriot Land co.  I am interested in joining a group to see if I can get a good price for my property.  Can you tell me how to contact the Smith Goshen group, or another group which would help me.

Permalink Reply by Greg Zelenitz on October 6, 2011 at 10:52am

We have three major shales here.Each one of these should be leased individually.In Pa most leases were for only the Marcellus. This is the only place in the country where there are major shale plays stacked on top of each other. Landowners in the Eagle Ford in Texas were paid up to $35,000 and 27.5% for three years for only the Eagle Ford Shale.Our Utica is being touted as better than the Eagle Ford and cheaper to drill at one quarter of the depth of the Eagle Ford. I wish people would do some homework.Check out the Bakken,Hainesville,Barnett,and Eagle Ford shales.Trust me the oil companies are all laughing at the leases that everyone has signed so far.Giving EVERYTHING away with one signature.Every one those shale plays I have mentioned have evolved just like the Utica is evolving here.Instead of playing games on your computer use it to educate yourself what has happened EVERY Time in the development of shale plays across the country

Permalink Reply by RJ Morgan on October 6, 2011 at 11:14am
Greg- when a lease expires, it is then renegotiated at the then market level, correct? My church is nearing the end of a ridiculously low lease of $5/acre from five years ago, and now their options are significantly different. Will these companies have to realign in five years to terms more accurate and favorable to the land owners? Thanks.
Permalink Reply by Greg Zelenitz on October 6, 2011 at 11:45am
I would take your lease to an attorney for review well before its expiration. Most leases have a provision for renewel.If you don't like the original terms you propably are not going to be happy with the renewel
Permalink Reply by RJ Morgan on October 6, 2011 at 9:54pm
I think the renewal is for the same for one renewal, but I am not sure about a second, or third 5-yr period. At this point I just hope they drill. Marquette had two 650-acre quads wrapped up when we signed, but I have not heard any time frames for Hess. Light aircraft fly over on a regular basis, which I read somewhere is their appraisal of what they bought. Buell is not terribly far from here, but we will only know once they go. Since they will want ROI asap, I hope it is soon. Thank you for your replies.
Permalink Reply by Finnbear on October 6, 2011 at 10:08pm
They normally only have one renewal if any.

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