Replies to This Discussion

Permalink Reply by Philip Brutz on October 24, 2011 at 1:43am

You should be getting 20% GROSS minimum!  This is a boiler plate lease.  Don't sign it!  I would recommend that you contact the Smith-Goshen land owners group.  They now have over 50,000 acres in Belmont co.  The only way you are going to get a good lease is by joining a land owners group.

Permalink Reply by Finnbear on October 24, 2011 at 5:13am

They are eager to sign you as cheaply as possible. They are negotiating with a large landowner group in the county and will probably have to make a considerably better offer to the group because there are other oil and gas companies competing for the same acreage.

Permalink Reply by Megiddo on October 24, 2011 at 5:37am

I forgot to mention I only have 3 acres and most of my surrounding neighbors have signed the Hess lease already. Do you think I am in a position or location to contact or join the Smith-Goshen group. I trying to gain more leverage and become educated before I sign anything. I.wish my neighbors would have had more patience . But that's the problem. There is such a pressure play with the G&O companies that people are afraid of getting left out.

Permalink Reply by Finnbear on October 24, 2011 at 6:11am

That is a decision only you can make, and once you do, you have to be at peace with it. Get as much info as you can in writing on the offer from Hess. Stall for as much time as you can get away with and learn all you can during that time. You can join Smith-Goshen without obligation, they only ask that you let them know if you go with someone else so they can remove your acres from their inventory mapping.

Permalink Reply by twitch on October 24, 2011 at 9:25am

you can do much better than this, hess bought out Marquette (Mason-dixon) leases,rumor has it for $9000 per acre. I am also in wheeling TWP. and know that hess has the majority of property, but they will need your property.if you can contact the smith-goshen group, if not, make sure you get at last 20% gross royalties, and I think you can do much better than 5000.00 but the choice is yours goodluck

Permalink Reply by Buckeye on October 25, 2011 at 2:40pm

Buyout was 6K per ac I read, looks like three permits in Whl twp anyone know who they belong too? 

Permalink Reply by adam sorell on October 25, 2011 at 2:32pm

How do i get in touch with smith goshen group. i tried contacting that Lensmen attorney but no luck.

Permalink Reply by Finnbear on October 25, 2011 at 5:08pm

I sent you a friend request 15 days ago and offered the contact info then. Send me a private message and I'll get you in contact with the group spokesman.