Replies to This Discussion

Permalink Reply by James McDowell on July 24, 2012 at 5:15am

What area?

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Permalink Reply by G.C. Resident on July 24, 2012 at 5:16am

Richland Township in Guernsey County.

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Permalink Reply by Henry Edwards on July 24, 2012 at 5:22am

You don't want to sell you mineral rights at that price regardless of who it is

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Permalink Reply by G.C. Resident on July 24, 2012 at 5:38am

Henry, I'm 'dumb' to this stuff.  What would a fair price be? 

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Permalink Reply by jett on July 24, 2012 at 8:04am

That dollar amount sounds more like for signing a lease.

Remember if you sell them - it's forever.

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Permalink Reply by G.C. Resident on July 24, 2012 at 8:10am

When we signed our lease with Dave Hill 5+ yrs. ago for the rights to drill, we were paid $124/yr.  After 3 yrs. they drilled on our neighbor across the road.  Right now, our checks come about every 3-4 months in the amount of around $25.  :(  So, we're not seeing hardly anything.  :(

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Permalink Reply by G.C. Resident on July 24, 2012 at 8:29am

Yes, Vertical well was drilled across the road from us. We get  around 1.5 % of the royalties from the well. Production on the well has been drastically reduced. We signed for our 15 acres and they have included just under 5 acres of our property in the well "area".                I wonder if we would be able to lease out the other 10 acres ,Or would Hill still have claim to it?

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Permalink Reply by Ripley's Believe it or Not on July 24, 2012 at 7:52pm

The letter you recieved I believe is to buy your rights but you would have to own 3/16 of them which I believe is 18.75 percent which if you have already signed not many people recieved that in there deal,and that would be forever!!

 

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Permalink Reply by Debby Teach Hill on July 25, 2012 at 3:57am

I recieved the same letter in Wills twp. It is to BUY not Lease your mineral rights...agree with Ripley's

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Permalink Reply by G.C. Resident on July 25, 2012 at 5:28am

Yes, we understand it is to buy and not to lease.

We have a little over 14 acres and what is tied up in the neighbor's well is under 5 acres.

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Permalink Reply by Madd man on July 26, 2012 at 1:40am

http://www.westhawkllc.com/

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Permalink Reply by Bryan R Cope on August 28, 2012 at 5:18am

So has anyone decided to forego future royalty payments, and take the money?  And if so, why?

I am with a group of heirs in Knox Twp in Columbiana County, and for some reason, they want to sell out.

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