My sister is in Salem Township and received a lease offer for $3,500/acre and 15% net royalty lease. Seems very low as I have heard of leases going for $7,500/acre or higher and 20% gross in Jefferson County. The wells in Jefferson County drilled in the past 2 years seem to be doing very well from what I have read and found online.
Anyone out there know of what the going rate in this area is? The property is within 1.5 miles of the Wayne Township line.
I don't know anything about your specific area, but no way would I ever sign e net royalty lease.
6 to7000 20% gross is about the going rate over the last couple years.
thank you. That is what I thought, very low offer. Are there any landowner groups up that way that she could join?
Which company made the offer?
I believe he was talking about the $3,500/acre and 15% net royalty lease offer. I do know Southern Jefferson County is the hot spot now. They are poking holes everywhere.
Yes, that is what I hear as well Martin. Hard to believe just north would be any different.
The only player in Lower Jefferson is Accent. They Renewed the leases they bought from AEP for $6,800.00 / 20%. Gross
Offered people in a Unit $5,900.00 / 18% gross. Now I have heard $1,600.00 /15%net to $5,500.00 / 20% Net. I turned down their offer to Me on 67 acres. Purple is doing the landman work. I wont do a net lease, I could end up with nothing.
try this number 740 792 1481.-ask for Barbara.-- continental-gulfport
Gulfport is who did not renew my lease. My property is surrounded by Accent and 1mile southeast of new Hammak Pad.
This company is known to force pool. I'd try and pull them into terms they offered your neighbors with gross royalty so if you have to go to a forced pooling hearing you may be able to represent they have not been fair to you by comparison. I'd focus on pushing them to such fairness and would keep using that word so if they present their landowner case notes to the Ohio O&G Commission that term should be repetitively documented.
Which company Gulfport or Assent is known for force pooling?