Replies to This Discussion

Permalink Reply by scott peterson on August 28, 2016 at 1:14am

Buddy of mine just got released by Antero on St Johns Rd.. Original lease thru KWG&D + 15%.

Permalink Reply by David Cain on September 2, 2016 at 5:20am

According to ODNR numbers just released for the 2nd quarter, Eclipse's Purple Hayes well in Millwood is the number 1 oil producing well in the state.  71,000 barrels in 58 days.  Granted the well is a lot longer than other wells but it was only in production for roughly 2 of the 3 months during the quarter.  I am hoping this will help those of us in Millwood that are looking to lease again or get renewed. 

Permalink Reply by scott peterson on September 2, 2016 at 5:28am

Amen to that Dave!

Permalink Reply by David Allen Lilly on September 23, 2016 at 1:01am

I am now aware of two landowners who refused the lease renewal offers that change the land bonus payments to yearly increments of what the lease calls to be paid upfront in one lump sum.

One is a smaller acreage, about 5 and the other is around 75 acres, they are in two different townships, one in Millwood.

Permalink Reply by David Cain on September 23, 2016 at 4:03am

David,

I hope it works out for those landowners.  I have a 54 acre parcel in Millwood township that Chesapeake did not renew in June.  While I am glad to be out from underneath Chesapeake I have not had good offers on my parcel.  Hopefully, things will change in the future.

Thanks,

Dave Cain 

Permalink Reply by Philip Brutz on September 23, 2016 at 5:00am

Are they now without a lease?

Permalink Reply by mike on September 27, 2016 at 8:52am

I am in Millwood township with 70 acre's under leased till next October.We have been contacted by 3 different landmen wanting us to sign a new lease on a five year, one year at a time.We told them if they wanted to amend the lease on the term we wanted to amend the lease with no fees.They never got back with us

Permalink Reply by bo boboski on September 27, 2016 at 12:52pm

good for you.

Permalink Reply by scott peterson on October 3, 2016 at 1:26am

I am in Millwood Twp and leased with Gulfport, expiring end of Oct.   Just found out from my atty that GP is not renewing any leases in Millwood.  They only have interest is a few small areas of Guernsey at this time.

Permalink Reply by David Cain on October 3, 2016 at 4:20am

Scott,

Sorry to hear you aren't being renewed.  Did your attorney make any recommendations on trying to get your land leased with anyone else?  I am working with Bill Williams from KWGD on my parcels in Millwood and only received interest from Eclipse at $1,000 per acre and 15% no-cost royalty.  They wouldn't move off those numbers, so I decided to wait a little longer to see if prices go up or new players show up interested in Millwood.  Do you or your attorney think there would be any benefit in trying to get several landowners together from Millwood township to improve the chances of getting a good lease? 

Thanks,

Dave Cain 

Permalink Reply by scott peterson on October 3, 2016 at 4:24am

Same atty Dave and had a crappy offer from Eclipse on a 8 year lease with bonus being paid yearly vs upfront. 15% gross lease also.

Did they offer you a paid upfront lease at %1,000 acre or paid yearly over 8 years?

Permalink Reply by David Cain on October 3, 2016 at 4:39am

Scott,

It was paid yearly over the 8 years - I think the term is delayed rental. 

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