Lensman & Associates is forming a group in Belmont County.  Anyone with acreage in Belmont County should contact this firm quickly if they are tired of waiting for an offer.  They will submit bid packages October 10th and finalize bids on November 5th.  They are negotiating to get the full bonus before December 31st so it applies to 2011 taxes.  Taxes are almost guaranteed to increase in 2012 for both federal and state.  With the recent announcement from Chesapeake about the production of the well in Harrison County, this offer should be fairly good.  The XTO deal a few weeks ago is looking like 19% on the net royalty, not on the gross and $4950/acre bonus.  The new deal should be better than what XTO was offering. 

Views: 13029

Replies to This Discussion

Yes you can post a lease here. It needs to be in some digital format first. When you reply here you click on "Upload Files" just below the Reply box and then click "Browse" and find the lease file in your computer. Select the file  and finish the reply.
Why does Belmont need more than one Group? The resources are there for all.  Don't residents know that it is the gas companies' dream to split you  up 7 ways from sundown?  Why not pit one landowner against another?  It gets the companies cheap deals with few protections and benefits, and secures the OGM's nearly forever.  Come to think of it that's what the landowners/rightsholders get too.
Yes we need one bigger group to help with better end results. I did not realize you could put leases or business like information on here or I would have provided some other information to assure people why the groups are the best way to go and not to rush for any reason. And to Psychosid , My comments were not intended as an attack directly on you but when I read your previous post about the 4% on Royalties where you continued with (is there a problem with land affecting Belmont County above coal with a question mark after it, Then you later put you have lived here all your life , it did not make sense to me if you were unaware of the coal situation, it looked as if you are involved with the Land Land A group promoting this quick lease deal and attempting to lure people away from the large groups that have worked so hard to stay together for all concerned just to get a quick deal and get the Land A group leaders a lot of quick cash for minimum effort . I have to defend the group effort here from being lured or have doubts put in their minds because the groups have a proven track record from historical situations just like we have here . You have to understand my point because my neighborhood area has a lot of good friends and family that have worked hard for what they have here in Our OHIO Valley.
You can see that the production releases from Chesapeke show a minimum of 1500 barrels of ngl's per day and a lot of gas also  see  one well had 3010 barrels equialent per day x even $60per barrel = $180,600 per day x 30 days=$5,418,000 per month . I have a well next to me producing 1.5 milion cu.ft of gas a day , how much production do they need to show this is a real deal, Now being realistic it would seem that if I were a company with land potentially good for development I would not lose it just because I was paying a little upfront before another company stepped in to grab it out from under me for more money would you , Also the attorney group does not need to take such a large chunk of the landowners money when they have so little work to do at this point , Make a few clause adjustments and there is no doubt a company would gladly take the acres even if they got the $4950 brought up here . This still equates to an overwhelming profit with a quick deal, as far as what they want this has become a confidential situation which those that have held their "ground "will be entitled to know .

psychosid, if you are interested in the Smith-Goshen group, you need to get in contact with them.  At the previous meetings it was explained to the group that the companies wanted all of Belmont County, not just bits and pieces.  That may have changed and we will find out at the next meeting date.

Which is Tuesday....
Finnbear , when is the next meeting with smith - goshen . I joined with them but haven't heard a thing . How can one be updated ? thanks finn
Private message sent (friend request)
The next Smith-Goshen meeting is tomorrow, Oct 4th.
Has Smith-Goshen tried to get membership from landowners in other townships in Belmont County?
Smith-Goshen already encompasses Smith, Goshen, and the surrounding contiguous townships.
Smith-Goshen now covers ALL of Belmont County

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service