Replies to This Discussion

Permalink Reply by Little Cougar on January 14, 2012 at 3:47pm

1. the actual lease filed with the county will not usually state the bonus money...so this is typical to have that in a separate document... 

2. as to usual & fair bonus offer, there are land groups in Greene Cty...also many who have signed leases...and this site should give you an idea what is typically being offered in your area.  There are many variables that affect the offer per acre.

3. The shut-in period is usually 90 days before the O&G have to pay you shut in rental fees and frankly it it all depends but $5 per acre is somewhat typical in most leases in Greene County...remember, an O&G normally don't like to shut in a well because they are not making any money while it is shut in so they don't want to have to pay shut in fees to you either.  A good lease should spell out why a well might be shut-in...

However, I think you need to do a lot of research...there is much more to worry about then shut-in fees and whether a lease will spell out the amount of your bonus you receive per acre.

Suggest you go to the Penn State Extension Website as a starter and they offer samples of leases and addendums...here is a link to it...http://extension.psu.edu/naturalgas

Also they offer a lot of valuable info and other links too. Also go to the DEP site for Pennsylvania...they don't offer any advice about leasing but they do give you links to the laws in PA regarding Oil & Gas...

5.  Try and find a reputable attorney, don't agree to a percent of your bonus and future royalties...do your homework...much of what you are asking is on this site...but most importantly, get professional advice before signing anything...they may not be experts in the O&G but they can help you understand the legalese wording.  Keep Googling and read everything you can get your hands on.  Also Michigan State or maybe Michigan University's website has good info and links (I forget which but you can look it up).  And maybe take a trip back home to Greene County...they are friendly people and will be more then willing to fill you in as to who is doing what.  As to a fair price per acre, they may all have signed confidential agreements and can't say but you can get a ball park average...a lot of the land in Greene County is already leased by companies and held by production...a term you soon will hear a lot.  But I can't emphasize enough...don't depend upon others to do what you should do for yourself...learn as much as you can...and the info is out there...go look for it...

Good luck...

Permalink Reply by Doug Koffler on January 15, 2012 at 3:52am

Thanks for the help...I'll do some more research on this site & the ones you recommended. 

The O&G company hasn't yet found the other party so we have some time to research.

 

Permalink Reply by 0ym9x5ag7ury2 on October 14, 2012 at 1:02pm

Go to the Associated Land Owners Of The Ohio Vallery website:  alov.us     to see an example of a well written lease with protecton for the landowner. The current lease is titled March 2012 Lease. If you use this lease as a model you can't go wrong. You'll notice protection agaist taxes being raised by Fed, State, and local entities. Compare your local Land Groups contract with this one to make sure they have thought of all the possible protection a land owner could need. 

Join a land owners group to pool the power of 1000s of acres to maximize the Bonus and Royalties.

If you search my name (Ron Hale) on this site you will find more advice on this and other oil & gas topics from the past. With new people showing up each month, we end up saying the same things over and over.     Good Luck Doug.