Unit Owners' Groups

I have property in Oak Forest, Center Township, Greene County and just noticed that EQT/Rice has pooled me and the neighbors into the Magnum #1 unit. I'm thinking it's tme to organize a unit owners' association. Anyone else done this?

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Permalink Reply by David Allen Lilly on August 17, 2018 at 11:09am

I don't know of anyone who has actually done it but I think it is a great idea. It seems that once folks start getting royalties they drop off the face of the earth.

Permalink Reply by Marki Robert ONeill on September 8, 2018 at 2:34pm
Great idea. They want to lease Marcellus + Utica which should be double the bonus. Also ask for no post production costs. Why should you pay for transportation and refining when you only get the wellhead price??
Permalink Reply by martin on September 10, 2018 at 1:11am

The point is for unit owners is to compare statements. The companies know people are private when it comes to money. I have heard of peoples statements having different production numbers from the same well. Having a group like this you can at least make sure everyone is being paid at the same rate. I know people have different deals and percentage rates but the production information should be the same I would think. 

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