Received AEU Minerals Offer Letter to purchase our O/G interests

Did anyone else receive a letter from AEU Minerals, offering to buy your mineral rights? We received our letter from AEUM, today. Our lease is with AEU, also. They bought it from Shell, our original lessee, a year after we signed with Shell. In one year and seven months our lease with AEU will expire. There has been no drilling as of yet. Our lease is for $5,000 an acre and 20% royalty.

Is American Energy Utica  trying to buy our mineral rights  now so they won't have to shell out another bonus check in Oct. of '16? Or are they finally getting ready to drill?

We are considering selling our mineral rights and have been sent a letter from Dorado Mineral & Royalty, LLC., Ft. Worth, TX., also. Does any one know of other companies we could contact to see if they are interested in our minerals, so to get the best offer? Our minerals are in Londonderry Twp., Guernsey county. We do not own the land, just the mineral rights.

Really could use advice as to how we should consider a price per acre if we consider AEU or any other company. AEUM stated in their offer letter they would beat any offer higher than their offer. There were no money amounts  offered in this  letter today.  What is the going selling rate for G/O interests/rights? New to this situation and would like all the advice/help we can get.

nc man

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Permalink Reply by countrygirl on March 18, 2015 at 4:31am

I had seen there where Adam Sorell said he spoke to Rhett Johnson, so was curious...we are alse owned by AEU...

Permalink Reply by Janice L. Hancharick on March 20, 2015 at 4:55am

These letters go out like those from Publlishers Clearing House ... a blanket mailing to a target audience.  Some even come w/bank drafts that absolutely cannot be counted as cash.  Don't even try to deposit them!  Numbers thrown out in conversation or in print are as trustworthy as a fox in the hen house.

If a real contract appears run to a OGM lawyer near you.  That's "trick" advice for North Carolinians because such creatures don't exist YET, but will soon!

Signed, A NC lady ... with a 250,000 AC Group up north!

Permalink Reply by lance on March 26, 2015 at 3:47am

I  received the same  letter a couple weeks ago. Along with Gateway, LLC and Strategic Land Partners LLC... Just because oil prices are low now doesn't seem to be stopping some of these buyers from buying up our minerals. I have noticed more propaganda rags like 'The Daily Digger" talking down the value of our acreage because of the low prices. Could it be a 'ploy' to get us worried enough to sell out cheap so they can capitalize in a big way a few years down the road. I am also signed with A.E.U.@ 20% royalty. I signed with Shell in Oct. 2011 got my bonus in April 2012 for 5k per acre. I'll wait to see if they reup before I sell anything. Chances are good that they will reup @ 5k bonus and 20% I'd say patience is a virtue when it comes to this game....... 

Permalink Reply by bo boboski on March 26, 2015 at 9:59am

AEU has been offering folks who they have leased,but soon to expire offers to buy their minerals instead of the second bonus go-around deal. You may be next? The leases they bought off Shell  will be coming up soon. I figure they don't care to0 much for that 20% with no deduction! Time will tell. I'm in that boat too!

Permalink Reply by nc man on March 26, 2015 at 10:49am

Stay in touch, bo!

I kinda figured that might be the reason they are offering to buy our mineral rights at this time! That is, before renewing or not. Did not realize we have a lease that states, no deductions. Must look over it again.

What exactly does that mean, no deductions? What does that include?

Talked to a Rhett Roberts last week from AEUM , after receiving the offer letter and he said he would call me back this week, with an offer but have heard nothing from him. Just real curious what he might offer us for the rights. He's in no hurry, I guess!

Contacted a Lindsey Fixley, from AEU, and asked if AEU was entertaining re-leasing with us and he said he couldn't say either way but said they didn't have to!

Just curious-----is your property near Skull Fork Rd, Londonderry? Our rights , no land, is located in the n.e. corner of Guernsey.

Hope to hear from you if you have any news and I will do the same.

nc man

Permalink Reply by bo boboski on March 26, 2015 at 3:19pm

Under the terms of Shell's lease I signed,now owned by AEU, The Lessor's royalty shall not bear or be charged with, any cost or expense incurred  by Lessee, for drilling,testing,completing,equipping,separating,dehydrating,transporting,compressing,treating,gathering or marketing. the Lessee is given the option to extend the lease for 5 more years by paying 100% of the original signing bonus. must be paid at least 30 calendar days before the termination of the primary lease.Royalties were 20% of gross proceeds sold by Leesee in an arms length transaction for all oil,gas,and all marketable substances produced from the oil & gas from the estate.  It's what they call a" landowner friendly lease". I don't look for them to renew this lease,that's why they will offer 1st to just buy the minerals.If they cant buy em, look for a new offer to lease with a "producer friendly" lease!

Permalink Reply by lance on March 26, 2015 at 3:49am

They said they wanted a chance to beat any other offer. I recently had an offer for 10k per acre

Permalink Reply by nc man on March 18, 2015 at 4:34am

 sorry. thanks for sharing your info about your dealings with them. i know i have a lot to learn!

hopefully there will be someone i can trust to be fair with me---$$ wise!

Permalink Reply by countrygirl on March 18, 2015 at 4:51am

All you can do is call around to different places and see what they are paying...I am sure it is low right now....but it is worth checking out all places .......but sounds like you are located in a pretty sweet place.......hope you get what you want out of it....as for getting someone you can trust....they are out there....it is finding them....LOL  Goodluck..

046aqwyftq0soPermalink Reply by 046aqwyftq0so on March 17, 2015 at 11:44am

As a Dorado Landman, I can confirm we are buying in parts of Londonderry Township. If you have a 20% gross lease, we give high offers. However, Eastern Guernsey is getting killed with oil prices and mediocre well results from some of the operators here. Feel free to message me with questions or go to our website. 

Permalink Reply by nc man on March 18, 2015 at 4:22am

Thanks, Bmo,

Sounds like it is not the right time to sell. Not giving away my 1/3 of the 80+ acres for mere pennies! Would like to sell but will not settle for less than what I feel it is worth.

Collen Wheatly, from the Recorder's Office, in Cambridge,Ohio, when we went to sign our lease, told us that our mineral rights were in THE hot spot and good as gold! I'm hanging on to those words of expectations!

nc man

Permalink Reply by nc man on March 20, 2015 at 1:01am

Bmo,

Curious----What are you offering for 20% royalty?

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