Waiting to get paid?

Have you signed a lease and are still waiting to get paid? How long has it been? Who did you sign with? What is the wording in your lease?

Have the OG companies drilled, but you haven't been paid? Was the payment what you expected? How much did you get per acre/month?

Where is your property?

We are thinking about signing and want to be protected and have an idea of how long it will take to get paid and what kind of wording works. There are tax consequences and planning that need to be considered and it would be helpful to know a timeframe. My wife's uncle had a well drilled (shallow) and is now HBP- his last royalty check was for $.75, yea, that's right 75 cents!

Views: 6901

▶ Reply to This

Replies to This Discussion

Permalink Reply by Mike Flor on October 7, 2011 at 5:54pm
Welcome to the Murky waters of oil and gas leasing.  I would suggest you read as much as possible on this forum and others.  Maybe go to some gas lease meetings to learn more.  Talk to your neighbors,  But most of all wait until you fully understand what you are signing. A good oil n gas attorney would be the final touch to make sure you are signing a lease you can live with.  Good luck...
Permalink Reply by mike4t on October 8, 2011 at 4:44pm

Mike,

Thanks, I appreciate the response, but I have been reading as much as I can and have viewed this forum for well over a year, and a member for several months and I think myself fairly well versed in the shale plays.

 

What I'm trying to do is find some hard facts about payments because like someone aptly put it, "I heard it from my barber's friend's cousins brother-in-law's housekeeper's uncle" who said he was making $50,000/day/acre.

 

I've also heard that some people have signed leases and not been paid for 90+ days and also that people have signed but won't be getting paid till 2012.

 

I'm thinking that once people sign their lease, they are no longer supporting this site

 

 

 

 

 

 

 

 

Permalink Reply by Lawrnece J. Carmalt Sr. on October 16, 2011 at 8:41am

We signed a lease which included a 90 calendar day payment of the signing bonus.  We had a lawyer negotiating our lease and we got a good deal at the time of our signing,

For your information here in Belmont County Ohio we just signed for $4950. per acre signing bonus and 19% Royalty.  So my advise to you is to hold out for more.  Jefferson County, Ohio also got $3,700. per acre and 17% before Belmont County Ohio settled for $4950. and 19%.  So unless you need the money now, my advise to you is to hang in there you may get more than you are currently being offered.  Keep in mind the Gas and Oil companies are well aware of the true value of the gas, even though they may be low-balling the public.  One gas well in Ohio got 9,000,000 cubic ft. of gas per day from just one well and they also got 1,200 barrels of liquid byproducts.

Permalink Reply by craig on October 8, 2011 at 4:58pm

In Beaver County, CHK's checks have been arriving at just about 110 days from the day of signing the lease. I know a handfull of folks that this was so, including me. I also know that once the lease is signed CHK researches the land in question one more time before cutting the checks.....I've noticed a few leases here and there that were null and voided because of a problem found.

No experience with royalty checks....yet!

Permalink Reply by PA Landowner on October 8, 2011 at 6:08pm

This pretty much sums it up about fracking for me.

 

http://www.youtube.com/watch?v=dEB_Wwe-uBM&feature=related

Permalink Reply by craig on October 8, 2011 at 7:49pm

Well, I guess that sums up how much you don't care about knowing the truth as well. I watched this months ago....should I say I forced myself to watch it.

Some of what they show did happen....years ago, the drillers don't even do the same things now. The vast majority of that video is hearsay and she said, he said BS. Sorry to burst your bubble, but this video has been dissected in other discussions here and shown to be mostly false and misleading or even out right lies at times.

 

 

Permalink Reply by PA Landowner on October 8, 2011 at 8:30pm
Oh, so they don't use thousands of gallons of chemicals?
Permalink Reply by craig on October 8, 2011 at 10:23pm

Please go to this link on this website. This is a very good and very accurate portrayal of fracking fluids,spills and such:

http://gomarcellusshale.com/forum/topics/oped-hydrofracturing-spill.

 

Permalink Reply by George Brown on October 8, 2011 at 10:40pm

They do and we use millions of gallons of carcinogenic gasoline too. If you're worried about frack fluids, you won't be able to sleep at night if you start thinking about all the gasoline tankers roaming around our highways and byways. And don't even consider all the salt we pour into our streams, rivers and lakes so that folks can get to grandma's house when it snows.

All of that is child's play compared to what the sun is going to do to us when it begins to approach its red giant phase and there's not a darned thing we can do about it.

Permalink Reply by Faith Johnson on October 8, 2011 at 10:43pm
Well put George!!
Permalink Reply by Terry W. on October 9, 2011 at 1:17pm
Agree, George, you are pretty good!!
Permalink Reply by paleface on October 9, 2011 at 1:34pm
 George just keep telling them the truth,they can't deal with facts.

RSS

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

Badges  |  Report an Issue  |  Terms of Service