Just FYI, Encino is taking 95% + percent deductions off of royalty statements, so you won't get anything near your 20%. Before you sign anything, take it to a good lawyer to make sure you have strong language regarding deductions. If you have to fight them in court, it will be critical.
sorry the well is on adams road not long road.we got our first royalty check this month.no deductions!! we have a.l.o.v. lease
We renewed 68a in Belmont/Pultney with Gulfport 2018 at $6200.
Off of Beaver Dam Road. $3500 an acre, 17.5% GROSS and a much better lease than EAP is offering. Signed 60 days ago.
Actually, the thousands of dollars per acre paid in years past is never coming back. It began with Chesapeake Energy and spread as others sought to play the shale game and had to keep up. Chesapeake's founder and former CEO crashed his SUV into an overpass the day before he was being forced to appear before Federal Investigators because of the collusion and Ponzi scheme (shale plays) he created. The reason the whole shale biz is collapsing is these large lease bonus payments. Companies have so much debt because of them, and flooded the market with Oil and Gas, that they couldn't make a profit even when oil as $100/bbl. They borrowed money to pay for these leases (at 13-17% interest rates) now the "chickens have come home to roost". No one will loan them money anymore and many are going belly up, they need to. Hold out if you want, it will eventually make prices go higher but I don't think anyone in Marcellus and Utica will ever get more than $1000/acre ever again. Even when prices do go up. The party came and went.