Lease Offers in Belmont County

Just wanted to start a thread to see what kind of offers people are getting in Belmont County.

It doesn't have to be a signed offer, just any offer from a legitimate company.

List company, up-front bonus, and RI%.

Eclipse, $2250/acre, 15%

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Replies to This Discussion

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on April 19, 2012 at 11:29am

CHK similarly changed their offer in Columbiana county back in March.  That price change coincided with the ending of the first quarter and likely a condition of their JV with Total S.A.  It's possible that they legitimately don't like an area as much as they once did, but the most likely scenario (at least regarding CHK) is that they've spent a fortune acquiring acreage and they simply don't need more.  They'll take it, but at a discount.  

As far as the other companies in Belmont (notably Hess & XOM) they want results on the acreage they have first before jumping too far in.  If most of the county is in dry gas then they will have to wait for better prices before these wells will be economical.  Hess, through their JV with CNX, has quite a bit of land in the liquids window and might want to prove that up first.  If Belmont is mostly dry gas then the value of the county will be diminished...for now.  Once prices rebound that dry window will be very, very valuable.  

Permalink Reply by Finnbear on April 19, 2012 at 5:01pm

I know of two other companies leasing in the area who are also offering $4k/acre.

Permalink Reply by deron on April 21, 2012 at 5:36pm

Chesapeake is still at 5300 at 20 percent in Warren township with their lease.  It is very tempting after this long wait.

Permalink Reply by bville on April 22, 2012 at 12:45am

that's alot better than $4000

Permalink Reply by Finnbear on April 23, 2012 at 11:35am

Which lease are they offering at that price? If it is their standard boilerplate lease, there is no way I'd sign it at that price or any price close.

Permalink Reply by Finnbear on April 23, 2012 at 3:22pm

Without reading the whole lease and addendum, it is impossible to say if it is good, bad, or otherwise.

Permalink Reply by Amy on April 27, 2012 at 9:53am
Is anybody currently leasing in Smith township in Belmont co. ?. I heard Hess is canceling outstanding lease offers.

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