For anyone looking to sign north of I-70:
I followed up with the Mason-Dixon landman, reminding him to send me the lease and order of payment so we could make it official. He told me that landmen have been slammed getting ready for the big group signings in Harrison and Jefferson (I was a part of this group but Marquette weeded me out for being across the county line). As a result, "upper management" are the only ones with the time to OK Belmont Co. leases. He said they have the final group signing on Monday, and "give me a week" and he "should be able to move forward" with my lease.
Hopefully the deal with the same we talked about in prior emails: $3,700 and 16% w/the same addendum as the Harrison-Jefferson group. I don't like the sound of "upper management" having to OK it. I was under the impression that already had and that's why the landman offered it to me. Hopefully it'll all get cleared up by this time next week.
Hopefully I laid out the situation in a coherent way. If anyone wants more information, or a copy of the proposed addendum, let me know.
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The deal with Marquette was for $3700 and 17.5% royalties. I also was 'weeded' out because my property is in Belmont County.
I also recently spoke with them and I am supposed to receive some information in a few days. He seemed to indicate that their standard offer was around 3000 at 16.5 for properties in my area (Wheeling Twp).
I would be interested in seeing if their lease terms have gotten any more favorable since I last spoke with them in March.
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