To Lease or Not to Lease: Has Anyone NOT signed a lease? I'd like to hear why you didn't

My wife and I are part of a landowners group that is in the process of having their Range Resources contract reviewed by attorneys.  We only have 3.2 acres and have not decided whether we are actually going to sign a lease.  I am curious to hear from people who started to go through the process and then at some point decided against it.  I'd like to hear your reasons.  FYI - I'm not posting this so I can attack people's decisions.  I am genuinely interested in hearing from people who decided not to sign a lease.  

 

Thanks in advance!

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Permalink Reply by George Brown on October 16, 2011 at 11:57pm
Brad, the only problem with your post is that it is too logical for the doom and gloom types to comprehend.  Nevertheless, keep the logic coming.
Permalink Reply by cheliped on October 17, 2011 at 12:36am
The GOLDEN RULE: Say one thing and do another. That is the new golden rule. The average American uses 4,759 cubic feet of natural gas and 441 gallons of gas!
Permalink Reply by Karen Bagdes-Canning on October 17, 2011 at 7:59am

Biased Media?  Biased media?  That is suppose to be my line.  I'm one of those anti nat gas enviromentalist that you speak of.  I just don't know what my agenda is suppose to be.  Thanks for telling me.  I will tell the other folks I work with.  We thought we cared about the Earth and our grandchildren but no we must trying to sell a solar farm or running a geothermal factory...
Permalink Reply by BA on October 17, 2011 at 10:18am
You want an agenda? Read my prior posts if you want one, and don't make me your agenda. Why the freak aren't you and your environmentalist friends protesting the corporate sources of the toxic crap that are already proven and we know are harmful, instead of attacking a process where you don't have proof that large scale harm is even being done. When you can show it is being done, then go for it. Where is the media coverage of the filth that already infiltrates our air, water, homes, and bodies? You want to protest one of the cleanest sources of energy we have at this point in our technological timeline, yet what realistic alternatives are you offering?
Permalink Reply by George Brown on October 17, 2011 at 10:26am
Relax Karen.  I'm sure you are genuinely concerned for the environment, but you need to understand there are people in the green movement who have an agenda beyond simply saving the planet and these people will use you and your passion to further their own quest for power and control.  Those are the folks that concern people like Brad and I.
Permalink Reply by Jonathan A Jones on October 20, 2011 at 9:53am

Thank you all for your comments!  Some of them have been... Interesting.  My wife and I have decided upon a course of action.  We have decided to put our home up for sale and move closer to where I work (where there is mostly residential developments so drilling would not be right in our backyard).  We plan on retaining the oil and gas rights and exercising a lease on them OR using them maybe to sway a buyer who could possibly interested in our property.  However, nothing would be signed until after the sale of the home.  I've already spoken with the gas company about our situation and he said they would be willing to honor the contract even if we signed much later than the rest of our land owners group.  

For us, it's a win-win situation.  If we sell the house, not only will I be close enough to work to run/ride a bike but we will not have drilling activity in our backyard (or really anywhere near us).  My kids will be in a neighborhood that has other kids as well as a low-traffic residential roads that they can play / ride bikes on.  In addition, we may still be able to retain the O&G rights, lease, and make money without any of the possible negative effects.  Even if we end up selling / including the O&G rights with the property it's still a win for us.  

Permalink Reply by Karen Bagdes-Canning on October 20, 2011 at 2:08pm
Your teaching your children well.
Permalink Reply by craig on October 20, 2011 at 3:31pm

Karen... Do you support letting your children play on a road, any road, even low traffic roads? That is looking for trouble anyway you look at it.

However, I would have to say that Jonathan is doing things the right way and didn't make a knee jerk family decision that he would have regretted down the road. I applaud his efforts.

 

 

Permalink Reply by craig on October 20, 2011 at 3:32pm

Sounds like a good plan for you Jonathan. Just beware that the property will be worth considerably less. A local couple did the same thing for basically the same reasons. They kept the mineral rights and sold their house for a lot less than what it was worth....even before the gas boom hit our area. I hope your situation works out for you, you seem like a good Joe.  Good luck!

 

Permalink Reply by Michael Metzinger on October 20, 2011 at 3:16pm
Heard an individual(s) got $6,000 acre for some prime land somewhere in the western portion of Mahoning County. Not sure if that is high or low, but that is mighty good money!
Permalink Reply by Jonathan A Jones on October 25, 2011 at 7:31am

UPDATE - I wanted to let you all know that the underwriters that work with the real estate agency we are using to sell our home have requested that we submit a copy of the proposed contract by Range Resources for review.  They reserve the right to request changes to the contract (they would work directly with Range Resources) or, in a worst case scenario, flat out refuse to title our property (she felt this was highly unlikely).  Keep in mind that we HAVE NOT EVEN SIGNED A LEASE YET.  

I wanted to post this because I know when I brought this up previously, I was accused of spreading rumors and using scare tactics to further the left-wing agenda and that these things don't happen.  This is not something that I read on the internet or heard from somebody.  This is an actual conversation I had this morning with our real estate agent.  She said this is the first time her office has encountered this but did say the underwriters are scrutinizing properties more closely now that the gas companies have moved in to secure land rights.

Permalink Reply by Barbara on October 25, 2011 at 12:28pm

wow, jonathan..............what a development and i am glad you are sharing this. 

 

not title the house.....................and there is no signed lease???  and the underwriters... who are they?  i'm familiar with bank people needing to appraise, and a title search being done, this on 'regular' houses i have sold in the past.......but not up here in bradford county, and of course not since the gas world decended upon us.  is this legal?  have you spoken with a lawyer?  i know of noone else selling or considering selling at this time.

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