Wishgard Leasing......Ashtabula County...Dorset Twp,...Richmond Twp..Jefferson Twp Pierpont etc

 Wishgard sent me a letter/contract for my property to lease out. They are giving $1600 and acre upfront and 15% of the gross profit. Initial 5 year lease (huge lease agreement) and a 5 year extension if needed.

Are they any good?

Is there any other leasing company out there better?

Is Wishgard  a good company?

Has anyone else been contacted and what are you going to do?

I am new to this and would appreciate any valid information.

Should I hold off and wait till next year for the big boys to come in?

Any rumors of the big boys coming in next year with bigger offers?

Any and all information would greatly be appreciated very very much.

I can send my phone number if you have very solid knowledge.

Thx

Bill/Dorset Ohio

Is "Washingtonpalawyers.com

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Permalink Reply by Monroe Co Landowner on December 21, 2011 at 5:15am

Bill 8% is way to high, the going rate is 4% to 4 1/2% of upfront bonus for an individual, and never ever give anyone a portion of the royalty, (you then have a partner for life) With a group you can get attorney groups to represent you for around 2 1/2%

Permalink Reply by Bill Simpson on December 20, 2011 at 9:51am

Has anyone dealt with "washingtonpalawyer.com )group F&M #2 Northeaster Ohio? I contacted them today and they seemed very informative and helpful. They are group of attorneys representing groups of landowners. They only have an upfront 8% fee of the initial sign up monies.

has anyone dealt with them before?

Permalink Reply by mike on December 20, 2011 at 10:39am

I have I was in a group called the Mt Jackson group, Beaver- Lawrence counties Pa. mainly I had the right not to sign with the group and I didnot. 8% is a lot I think do it yourself. washingtonpalawyer.com are the lawyer that were used and co-exprise.

Permalink Reply by Loreto Accettola on December 31, 2011 at 9:30am

Just don't do it.

Permalink Reply by Doug Pierson on December 20, 2011 at 10:32am

BIll, we live here in Geauga Co. but have property in Pa.  Based on our leasing experience, it will be much better for you financially to NOT deal with any of these "go between" companies - going between you and the actual O&G companies - and instead negotiate your lease with the landmen that directly represent the O&G company.  WIshgard is doing a lot of advertising and there's a couple of others around.  Their job - well actually their business model - is to make money signing you and others up into a group, and then sell your leases to the O&G Co. for a profit.  And I might add, for the same terms that you could negotiate yourself.  When the O&G Co is ready to move into an area and start drilling, they will send their own landmen out.  So, don't be in any hurry.  They will get to you soon enough.  You will still want to do your homework and get assistance from a O&G attorney, but there is no reason to rush into things with these "flippers".

Permalink Reply by Monroe Co Landowner on December 21, 2011 at 5:23am

Doug thats all well & good going it alone as long as you don't live on the property & don't care about signing the O&G Company boiler plate lease that can in essence give them complete control of your land in some cases & you could get HBP forever with out ever getting drilled, if you do go it alone it is even more critical that you need to hire your own O&G atty to insure your protected & the lease is OK!

Permalink Reply by Finnbear on December 21, 2011 at 2:52am

Mark McGrail

Who is paying $6000 and 20% in Belmont County? I have 155 acres there that is unsigned.

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on December 22, 2011 at 3:00pm
Wishgard is the largest collection of snakes this side of Wall Street. You've been warned.
Permalink Reply by James Kerns on December 22, 2011 at 3:48pm

lmao, in the words of my teenage daughter, OH SNAP!

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on December 23, 2011 at 2:46am
I apologize to snakes everywhere. I'm glad that people know about Wishgard. They're the kind of locusts (I can insult them, right?) that make everyone in the industry look bad. Ashtabula is frontier land for the moment. I'd say wait until a major comes to town. Don't count on CHK though, they're supposed to end leasing very soon here.
Permalink Reply by Finnbear on December 23, 2011 at 4:56am

Exactly correct. Until some of the "big boys" show up in your county looking for leases, the market is still in its infancy.

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