Replies to This Discussion

LandownerPermalink Reply by Gary Ball on August 14, 2011 at 2:54am

Living in Colerain township, we had a meeting last night and as a group we are looking at 4000.00 per acre and 18.5 royalites, we are meeting next saturday.

LandownerPermalink Reply by Finnbear on August 14, 2011 at 10:36am

Gary
Who is offering $4000 and 18.5% royalty?
Finnbear

LandownerPermalink Reply by Gary Ball on August 14, 2011 at 2:26pm

Utica Landowners Groups LLC.

1. To negotiate a Bonus Payment of 4,000 per acre

2.To Make every effort to negotiate a Royality Payment of 18.75or more

3. To negotiate landowner friendly terms in an oil& gas lease with the driller

At this time theres no leases, this is just what we are asking for.....not sure how far this will go.

LandownerPermalink Reply by Finnbear on August 14, 2011 at 3:34pm

So this is just a wish list and not a bona fide offer from a driller or energy company?

LandownerPermalink Reply by deutchen on August 15, 2011 at 2:09pm

Gulfport is dealing directly with landowners now. The phone number of their landagent is 405-242-4395. As I mentioned earlier their present offer is $3000 & 16%.

LandownerPermalink Reply by Elsie Fox on September 7, 2011 at 7:20pm

Utica Landowners Group received an offer from Exxon Mobil for $4250/18.75%.  Lease signing is next week.

LandownerPermalink Reply by Finnbear on September 8, 2011 at 2:10am

Where is Utica landowners Group? I'm interested.

LandownerPermalink Reply by Elsie Fox on September 8, 2011 at 2:36pm

I think the landowners are spread around Belmont County; I'm sure the acreage isn't contiguous.  The person who dealt with Exxon Mobile is a lawyer named Sustersic (hope I spelled that right....).  They were allowing new people to enrol at the meeting last night, and may still be accepting members.

LandownerPermalink Reply by Finnbear on September 8, 2011 at 3:26pm

How does one contact this group?

What are their fees?

Any landowners in Washington Twp?

Any landowners in Murray Coal areas?

LandownerPermalink Reply by AT on September 8, 2011 at 3:41pm

Is the 18.75% based on gross or net production and is the 18.75% based on a 640 or 1,280, contiguous or non-contiguous acreage drilling unit size?

LandownerPermalink Reply by Finnbear on September 8, 2011 at 3:54pm

I think I'd want to steer clear of a 1280 acre drilling unit. That just allows them to drill half as many wells and then the leases are HBP. Not a great deal for the landowner.

LandownerPermalink Reply by Elsie Fox on September 8, 2011 at 6:59pm

I'm sorry that I don't know all the facts yet, but here's the little I do know.

 

There were several addenda to the lease, all of which were approved by Exxon Mobil.

 

One may contact Mr. Sustersic  (Sustersic Law firm....# in phone book).

 

18.75% gross at the well head.  If the gas is transported and the company makes more money at the next phase, royalty is on the higher number.  I know I'm not explaining this part well, sorry.

 

The fees will be paid by Exxon Mobil, so no group fees or expenses at all will be charged to the landowners.

 

The royalty is based on 640 acres drilling unit. That was one of the addenda.  I don't know about contiguous or non-.  I didn't even know a drilling unit could be made up of non-contiguous acres.

 

I didn't know more than 4-5 people at the meeting, so I don't have a clue about where anyone was from.  I do know that there were even some from Jefferson County.  One landowner asked about Murray Coal; all I remember is that the lawyer said he had 'worked with' Murray before, with a good outcome.

 

 

 

 

 

 

  

 

 

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