What is a fair price for a signing bonus in Washington County?
EQT has offer a lease @16% and $3,500 per acre signing bonus.
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Replies to This Discussion
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Permalink Reply by Stephen Fox on
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Has anyone run into a situation where Rice recorded their lease before paying bonus payment?
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Permalink Reply by Adam Martin on
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Does that include Production Costs or enhancement clauses?
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Permalink Reply by jason irvine on
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Wow. 29% are u sure. I'm not in Washington. In Wetzel tyler wv southwest of wash. Was that a offer you received? I hope so.
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Permalink Reply by jason irvine on
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Sorry. You said wash. Oh. I'm north east. I was thinking wash. Pa.
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James, also make sure EQT is going to pay you for any NGL's or oil that comes out of the ground. My family had an old HBP lease and they pay for no NGL's, only dry gas. A few EQT royalty owners that I've talked to have called EQT and they basically turned them away with the statement, if they want payed for the NGL's, you would need to sue EQT for it. They've been working with a lawyer and I plan to contact this same lawyer to find out what our options are. EQT is reporting no NGL's or oil to WVDEP so not sure how we could even know what has already been taken out of the ground over the last 2 years our wells have been in production.
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Permalink Reply by James T Monyak on
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Good point. In my lease they define Oil and natural gas, but don't talk about NGL. Will have them fix it. Thank you. I asked for higher royalty on Oil, but at this point may not make a differences since there is no oil or NGL in Union Township Washington County.
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Permalink Reply by me on
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Had a landman ask if he could add my acreage to a package of about 1000 acres already being considered in Washington Co. I told him that I would consider that, but what would be the benefit?
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Permalink Reply by S S C on
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That does not make sense to me. A land man DOES NOT under any circumstances represent you or your interests. He represents the other side. If he pretends to represent your interests he is not to be trusted and should not be dealt with.
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Permalink Reply by me on
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I think he is looking to "broker" the package to an active driller in the area. Does THAT make sense?? And why is this a question of trustworthiness? I know he represents the gas & oil company, and I have already been leased five years ago and know the "drill" pretty well.
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Permalink Reply by S S C on
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I would ask him for a copy of the contract he would be asking you to sign now before you even think about prices etc. That way you could have time to read and think about the provisions and also check his rep and credit worthiness before he dazzled you with numbers. If he balks at that it would tell me something.
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Permalink Reply by me on
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I haven't yet heard from this landman & had already requested to look over this group lease. So...maybe that does tell me something right there. But another question...Could it be that since it is the end of the year, that they don't have much to play with financially?? I'm thinking that may be why I haven't heard anything...well, that and also because my lease doesn't expire until midnight today.
Oh...and I already have a copy of one of their leases--because in January, he wanted to top lease me, but the lease gave first right of refusal to the current Lessee, and he didn't want to get into a bidding war with them at that time. But so far? No "group" lease... I don't think I'll be going that route anyway... but I'd like to look it over anyway.
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Permalink Reply by Chris on
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Not all Landmen represent operators some are independent and put together prospects to shop around.
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