Halcon Energy Properties, Inc. Lease Offer - 1 acre / Lordstown Township / on Rt. 45 / Trumbul County

Hi everyone,

Have not been keeping up w/OH leasing issues or companies as we only have 1 acre of land in OH.

We were offered $3500 acre / 15% royalties....

It is on Rt. 45, just about 1 mi. N of Lordstown center...  Do you think this is more about wanting a right of way than leasing for gas/oil? 

Any info would be appreciated.  Has anyone dealt with T2 Land Resources / JarrofdRiggs?

Much appreciated.

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Permalink Reply by Craig Stull on September 5, 2013 at 1:53pm

Linda,  One can not tell you what to do but if it where me, I would hold out and demand nothing less than 10,0000 dollars and 25 percent royalties . The reason I say this is because there has been similar offers BY BP in Trumbull county  in the past  six months to land owners with about the same amount of land. But on the other hand You will always have the chance of being force pulled into a unit if you do not sign a lease. BTW,  there has been two units force pulled by BP in Trumbull county this year ,some of the land owners in these units are totally against drilling and refused to sign a lease. Best of luck to you !!!  GET A LAWYER DONT DEAL WITH NO FLIPPER MIDDLEMAN. Your land is in the wet gas zone!!!!

Permalink Reply by Linda A on September 5, 2013 at 1:56pm

Thanks Craig. 

BP in Trumbull County has offered $10,000 /25% royalties?

BTW, This is Halcon, not BP...

Permalink Reply by Craig Stull on September 5, 2013 at 1:58pm

Halcon has deep pockets also !!! 

015334grltd9mPermalink Reply by 015334grltd9m on September 5, 2013 at 2:12pm

Yes,  I thought we established nothing backed, no credibility.

Permalink Reply by Craig Stull on September 5, 2013 at 2:01pm

Linda, Halcon  bought up a 29,000 acres in Lordstown for 6100 an acre not long ago !!!

Permalink Reply by Linda A on September 5, 2013 at 3:17pm

thanks Craig!!! - do you know royalty?   I am assuming right of way is included in these lease agreements?  Old leases used to have a separate offer per foot - has that changed?

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on September 5, 2013 at 4:36pm

They bought on an 87.5% NRI (net revenue interest), so effectively a 12.5% landowner royalty.  But they bought old leases, so that changes things.

Permalink Reply by Mark McGrail on September 6, 2013 at 1:42am

Linda,

I live in Lordstown, and I am familiar with the Halcon offer and others.

If you want me to stop by let me know.

Permalink Reply by Linda A on September 6, 2013 at 2:41am

Hi Mark,

We live in Meadville PA so that would make meeting difficult.  Could you please give me a call or if you give me your number, I will call you.  My number is 814-580-1070.  Thanks Mark, would appreciate some info.

Linda

Permalink Reply by Craig Stull on September 6, 2013 at 3:28am

Call it want you want guys but I heard this straight from the landowner. He was force pulled, he wants nothing to do with these oil companies. Hey ,we are only talking one acre.

Permalink Reply by Craig Stull on September 8, 2013 at 2:30pm

Hey Eiselstien,

 You should read the front page of the Sundays edition of the warren tribune. AND You   want to talk about crediblility, you need to look in the mirror.

015334grltd9mPermalink Reply by 015334grltd9m on September 9, 2013 at 1:24am

Watch it Chip, this disturbed individual goes loco when called, but I like the drama :')

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