Replies to This Discussion

Permalink Reply by Bill on November 19, 2011 at 7:40am

They are nice people, and I believe honest, but frankly, I did better with Shell on my own.  Granted, they got a few hundred more dollars on the bonus, but if you deduct the percentage that they were to receive according to the agreement I first saw in 2010, you'd end up with less bonus than I got on my own.  Royalty was the same.  I didn't hear what addendums they got into the agreement.

For some, it is worth having someone else handle the negotiating, so they performed a valuable service. It's up to each individual landowner, and I'll be honest there were times whan I was fussing around with the gas companies I would have gladly turned over the negotiating to someone else.  Not for the faint of heart!

 

Good luck to all!

Bill

Permalink Reply by mike on November 19, 2011 at 11:48am

so what are the terms of the lease?

Permalink Reply by DKinPA on November 20, 2011 at 6:11am

David,  it turned out the way it did because the Dick group is not a true landowner group but an attorney.  They jumped way too early (they probably wanted their cut now) and they charged HUGE fees!

True landowner groups don't work that way.

Permalink Reply by Joe on November 22, 2011 at 4:41am

I mean has anyone seen the contract and addendum's? Is it that much better than everyone else s worth paying %15 of the bonus for? I  think I've read almost every thing on this site. It seems a majority of the talk is about bonus and royalty. A few threads about addendum's.  For me they're not that easy to understand. As some have said one word in a contract or addendum can screw you. I've studied 4 different contracts and addendum's. Some paragraphs seem to say the same thing as another contract but is just worded differently making it harder to compare them.

I wonder how many people are involved with this group and how many are going to sign. As a for profit land group you can see their interest is in the signing bonus. It makes me wonder about how good the contract and addendum's are.    Joe

Permalink Reply by Terry W. on November 22, 2011 at 6:28am

I was quoted an additional $500.00 per acra, over what Shell paid me.

I calculated the extra money, then took the 15% on the total, and I would

have ended up paying Dicks $1,250.00 more than what I would l have got,

PLUS, I would have to pay income tax on the amount that I paid to Dicks.

Not a good deal, if you ask me,.....calculate it out for yourself, if you are

part of Dicks group.

Permalink Reply by mike4t on November 22, 2011 at 7:00am

I was a member of the Dick Group over a year ago. They just called me, telling me that they had a good offer.... $3500 and 18% no deducts..... I got nearly the same offer from SWEPI 2 weeks earlier. When asked " why should I pay the 15% ?" , the answer almost sounded like what I would expect a landman to say.... " the O&G are going to quit leasing in this area because they are out of money" and " they won't drill for 5 years, so you'll make more money than the 15% you'll be paying to us"

 

I pretty much told them to go pound salt and that I would NEVER pay 15% as a commission.

 

On top of that, after you sign your lease, you'll never see them again!

 

.

Permalink Reply by 2s72s0k9mm8gd on November 22, 2011 at 11:45am

FYI SWEPI IS Shell (in case you didn't already know)

Permalink Reply by Joe on November 22, 2011 at 12:44pm

I ask again. Has anyone looked at the contract/ addendum's. Is there anything there that worth the %15 of the bonus.

Permalink Reply by Joe on November 22, 2011 at 1:03pm

There must not be to many people involved with the Dick land owners group. At least aware of this web site.

Permalink Reply by Gasman on November 23, 2011 at 3:40am

OUCH....that is going to leave a

mark in the morning!

Permalink Reply by JMS on November 26, 2011 at 10:38am

What area is this land owners group covering?

Permalink Reply by Joe on December 15, 2011 at 8:05am

Does anyone have any information on the Dick land owners deal?

It seems the deal is not quite finished yet. They claim to have 3000 plus acres signed. Now I understand that out of the goodness of their heart they're going to rebate 5% of the 15% fee on the signing bonus. Has anyone seen and have an opinion on the lease and addendum? With 3000 plus acres signed and who knows how many considered but didn't sign, surely someone's had an attorney look at the lease. If there's an attorney that's familiar with this lease let me know your fee for your expert advice.

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