New Group forming in Belmont County.....deal by November.

Lensman & Associates is forming a group in Belmont County.  Anyone with acreage in Belmont County should contact this firm quickly if they are tired of waiting for an offer.  They will submit bid packages October 10th and finalize bids on November 5th.  They are negotiating to get the full bonus before December 31st so it applies to 2011 taxes.  Taxes are almost guaranteed to increase in 2012 for both federal and state.  With the recent announcement from Chesapeake about the production of the well in Harrison County, this offer should be fairly good.  The XTO deal a few weeks ago is looking like 19% on the net royalty, not on the gross and $4950/acre bonus.  The new deal should be better than what XTO was offering. 

Views: 13028

Replies to This Discussion

Permalink Reply by Thomas Hall on November 6, 2011 at 3:27pm
It's Nov. Did they get a deal for the group?
Permalink Reply by adam sorell on November 6, 2011 at 4:57pm

i tried  contacting this larry cain multiple times he don't give a shit about anyone.  Maybe if you have 50+ acres.

 

Besides i heard that there is more supply than demand and no one is producing. Buying has slowed down until these wells start producing.

don't bother with the goshen group.

 

Permalink Reply by Mickgyver on November 6, 2011 at 8:12pm
That is way out of line and obviously not true . Larry has been extremely busy with the work that the group has been doing. Anytime you find someone willing to work for free to help others is a pretty decent person . The group has been doing very well and It is hard to understand why you could not have left a message and got a return call or you could have sent another message to whoever gave you the contact information in the first place and they probably would have helped you then . FYI many wells are being drilled and the companies are very interested in the area yet . Permits are being issued at an astounding rate . If you care to try call your original helper again .Best wishes I hope it works out for you
Permalink Reply by AT on November 6, 2011 at 8:37pm

Mickgyver & Finnbear, It appears that your leaders may be overwhelmed, as well as they should be. Maybe give these folks the date, time and location of the next group meeting, when known, so they can attend and sign up their land then? Just a thought.

Permalink Reply by Mickgyver on November 6, 2011 at 8:49pm
I will try to contact Larry myself and see if he got any messages or if he has even been able to answer any lately . They have refrained from posting anything basically being word of mouth to maintain a group that is willing to stay with the program . I will see how he wants to handle posting a meeting on here and get back on here asap . Good luck all
Permalink Reply by AT on November 6, 2011 at 8:53pm
Mickgyver, Even some sort of sign-up form with an address and/or fax number on it that you could email to these folks so they could complete and mail in or fax in to Larry and the group might be helpful also.
Permalink Reply by Mickgyver on November 6, 2011 at 8:57pm
Yes I understand , it can be stressful , but in his defense he may be really busy ,but yes and alternate contact needs to be made  .I am working on it now .Mick
Permalink Reply by Finnbear on November 6, 2011 at 10:07pm
Next meeting - tomorrow night (Monday, Nov 7th) at Union Local Middle School at 7pm. Anyone in with unleased land or mineral rights in Belmont county can show up there and sign up.
Permalink Reply by AT on November 6, 2011 at 10:17pm

Finnbear, Beautiful!

 

Adam Sorell, There you go. Be there or be square. With the amount of money involved, I think I'd take a day off of work if I had to to make sure I got my foot in the door. No excuses.

Janice Lanphere HancharickPermalink Reply by Janice Lanphere Hancharick on November 6, 2011 at 10:19pm

It sounds as if folks are running around willy-nilly chasing #'s and royalty %'s ... this group, that group.  Does anyone care what comes after those lease figures?  I hope so or OH will repeat many of the same mistakes that PA folks made, and companies will take the flak for "trickery" when all that was needed was patience and common sense. 

The longer it takes for solid deals to materialize, the kind that don't give you nightmares in a few months, ... the more little individual groups will break off weakening everyone's bargaining power --- EXCEPT the companies'.  Think about it.  What DO Ohio people want?

Permalink Reply by Amy on December 8, 2012 at 6:20am
We are out of town. Any contact help for the grp would be appreciated. Thanks

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service