Hello all, I know many had signed lease before me, so i would think Id be hearing about some renewals by now. My 5 years is up in April. Anyone heard of Gulfport holding up to the renewal arrangement, or they just letting them go? Guernsey County Madison Township.
HI Prospector, if you are replying to my thread, what I meant by separated is that the crude and the wet gas- I have been told come out already separated at the well head. This person told me that they have heard that the oil companies can make enough off the wet gas to be able to take a loss on the crude and still make a profit,
Vickie, No I was actually asking Phillip about his example he gave it is on the previous page, I believe its a 10 acre parcel. I was asking him why he said the rights have been separated on the quit claim deed? I am just looking for clarity on his example.
Prospector, no I don't do searches for a living, I own land near Quaker City. I had to educate myself about oil and gas rights so that I and my fellow landowners would not be taken advantage of by the gas companies.
That's good to hear, too many people aren't educated enough. Thanks again for all the good sources/info/insight. Take care.
You betcha on both accounts, Evan!
Phil is very well educated, as he said, self educated, pertaining to the g/o industry and has been VERY helpful to a lot of people, me included.
Thanks, Phil for sharing all that you do!
You and all the others that share their insight and knowledge, like you, also, Evan, is very much appreciated!
I consider you all my comrades and am grateful for y'all!
Hi Philip, we own land in wills township and had leased with the shell group 5 yrs ago.
I got a call today from a guy saying he was with a land management group who was working for Ascent and told me that they had bought our lease from AEP and wanted to renew our lease under the orginal terms for the same amount only payable over the 5 yr lease period rather than a lump payment. He was very eagar, wants to sign quickly, my first question is that I never received notice that our lease had been sold to ascent, my second question is what are our neighbors here in east quernsey thinking about releasing, I've heard some folks are holding out for 1800. an acre.
If you or anyone reading this has thoughts or advice please let me hear them, this is the only place I know to get info. Anyone interested in the guys name and ph# let me know and i will publish it.
1,800 an acre per year for 5 years? If its 1,800 an acre total that's terrible.
they are offering us our original terms, 1,000. per acre per year on a 5 yr contract.
My question is what are other land holders being offered if anyone knows.
Turned down a top lease offer from Eclipse (my GP lease hasn't expired yet) was for 8 year period. $500 acre year one & two and $1,000 acre years 3-8.
18% gross lease but i'm pretty sure market enhancements were going to be in there.
-sorry, I'm not very up on things, What do you mean by" market enhancements were going to be in there"
Formerly known as a Post Production Cost Clause. Enables the producer to deduct expenses from your "Gross" royalty making it in effect a net royalty. A Gross royalty lease with a market enhancement clause is really a net royalty lease more or less.