Tyler county lease offer / $12,000 an acre
I can't believe there was an article Nov 21 for 12 thousand an acre under a park and there isn't one mention of it on here.
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Permalink Reply by Roy A. Wagner on
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Be sure to talk to your Lawyer before you accept anybody's comment concerning the pooling clause being a minor point. It is a Major Point that should be used by you to open up the entire lease for re-negotiation.
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Permalink Reply by jason irvine on
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With the information available today I would think that area has good rocks underneath and should command at least 5k
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Permalink Reply by jason irvine on
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Sorry b
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Permalink Reply by jason irvine on
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Sorry bill. I misunderstood you.
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Permalink Reply by searcherone on
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Here is link to a November 25 State Journal article about the lease:
http://www.statejournal.com/story/27480197/dnr-accepts-bids-for-min...
Here is link to properties being considered for lease by WV including Jug Wildlife Management Area in Tyler as well as listings for drilling under the Ohio River in Marshall, Wetzel, and Tyler.
http://www.wvcommerce.org/resources/mineral-development/properties....
And no this Antero offer is not the largest. Antero paid approximately 15,000 per acre on some Ohio government property. If you have been following Antero, the best thing about them is they seem to know exactly where the good deposits are and are not afraid to spend the money to get them. IMHO those of you in Tyler and Wetzel need to be receiving at least 5k an acre. Your neighbors in Monroe and Belmont counties have been receiving that and to me it is all in the same general pool of oil and gas.
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Permalink Reply by zane zane on
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i have land in 3 states decided to sell some mineral rights .I leased monroe county Ohio for 5000 an acre than sold half for 14000 an acre now your saying there leasing for 12000 that's crazy
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Permalink Reply by zane zane on
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i beg to differ leased in 2011 for 5000 sold half for 14000 if not drilled by 2016 5 year extension is another 5000 that i get on all property . total 24000 if they drill i don"t get the second 5000 but royalties at 20% at well head i will be satisfied your taking big risk not selling some if you own a lot of land. many people in parts of pa. held off even leasing and now you cant get anything for mineral rights there. i know first hand. the old saying is pigs get fat hogs get slaughtered . don"t be the hog
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Permalink Reply by Tim on -
Zane,
I agree with your approach. Across the different shale plays, there seems to be a deep sense of 'us' vs 'them', almost to the extent of David vs Golaith. I am confused by the mindset, as mineral rights are an asset class, nothing more, nothing less.
Properly diversifying one's assets, is also a logical and inteligent approach.
If there is an ability to hold, thats great. But one can not compare leases and mineral rights prices in 2007 vs 2014. Technology has changed, the world has changed, oil prices have changed.
If one takes an unemotional method to their finances, good decisions are the result.
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Permalink Reply by beth hamm on
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The problems have not come to our area yet but I am sure they will be here soon!!!
They can give people high signing bonuses all they want!! They will be ripping off the land owners to make it up later ----- if you have not read about this yet - get your head out of the sand it will happen to everyone sooner or later! People in Bradford County Pa have already found out - I have heard horror stories. They thought getting huge signing bonuses and even giant checks the first year was GREAT but some of them are not signing the same tune these days since they are no longer getting ANY money from GAS pulled from their lands -- in fact some of them OWE hundreds of THOUSANDS in back royalties !!!!!!
Not only did their leases not have a limit to UNIT size it also has production costs coming out of the money they are to receive. If that is not bad enough those people who DID THEIR HOMEWORK and got leases with the NO PRODUCTION COSTS taken are also PAYING production costs and BTW at an inflated cost to the LAND OWNERS!
Read all the info and expect to be ripped off by some companies more than others SO BEWARE OF CERTAIN COMPANIES - do the research and PRAY but do not spend the money before you have the checks
As the articles discuss, they can get away with it BC landowners do not have the money to fight back, they basically do anything they want to because they have the money to do it -- BTW it is fellow landowners money they are doing it with in the first place!!!
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Permalink Reply by Jeff Kerr on
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Chesp sold our unit to Rice' Rice took over 8-1-14 Just got a check for sept from rice only got 1.65 per mcf is that low or am I wrong. Hell Chesp payed way better. I bet you never thought no one would ever wish Chesp. still had our lease.Can any one tell me what they got per mcf for sept of 2014
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Permalink Reply by Adam Martin on
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A lot of producers like to say "local prices" and "infrastructer" dictate what they pay you. So I wonder if Chesapeake dug up the pipeline installed to your well and then Rice put in their own pipeline?! I highly doubt it but if you call and complain to Rice, they will give you some song and dance about $1.65 being what the local markets bare so to deal with it. In the next lease my family signs, I will have language in it to specifically state that the price we are paid will be set by NYMEX spot price for Nat Gas Futures.
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