Information about drilling activity, pipelines, etc. in Millwood Township.
What is the going rate for bonus money on leases in Millwood Township currently? I was recently approached for $2,500/acre. This is $2,500/acre less than I received from my last lease. Any help would be greatly appreciated!!
$6000. and no deduction 20% royalties or tell them to just leave it in the ground! Stand your ground,it's your's, ya know?
Natural Gas keeps climbing, I agree these low offers are unacceptable, Gas demand is going to continue to surge with all the new power plants and plastic plants going up, your propbably going to get 1 good lease in your lifetime so made the best of it.
Unless you desperately need the cash right now, don't do it. The fact that they can force pool you (Ohio really sucks because of this) I wouldn't sell 80% unless it is a huge amount. They want us to think that it is so hard like it used to be with vertical wells only, they want us to go by the old "Standard" pricing. Sorry. Horizontal drilling and fracking have changed the scene.
I think people should quit leasing for these low offers and the prices would rise to $10,000 an acre and 25% royalty, until people quit giving away there rights to drill for low offers the gas companies will continue to pay next to nothing to drill.
If you can hang on and not take the money, you will be better off. Of course they want you for $2500 an acre. Once you sign & they drill they try to figure out 99 ways to not pay you. So I advise you to get as much as you can. My area started at 100 an acre and 7 years later I got 5900 an acre. Just throw the offers away and pretend it never happened until your forced to take them seriously ... which is what I did. Don’t give it to them
My buddy in Milwood twp got the same crappy offer. Seems like now they are only holding/renewing a few parcels to hold the land until they drill and then come back with crappy offers.
Do any of you know anything about what happens when you hold out and are forced pooled? I assume you loose the bonus money but what about the royalties %, to they give you the low/mid/high range of the others in the unit?
I'd settle for no less than what your neighbors are getting. talk to John Byler. Rose Hill cabinets.Rose Hillrd.
Thanks Bo, will do.
Hi Michael. Thanks for the heads up, appreciate that. I talked to a landowner relations rep at Eclipse about a month ago who told me my land will not be included in the Jupiter well but 1/2 of it will likely be included in a new well slotted for the end of 2019,/ beginning of 2020 called Ursa-Major. Any idea where this location might be (assuming the name Ursa or Major may be landowners names) ? Have you seen a map or list of landowners for the proposed SSE leg of Jupiter? Where exactly is your land, on Sycamore N or S of Mill St and which side of street? I am half way down to St Johns on the West side of Sycamore.
Ursa Major may not be landowner names. It is a constellation. Maybe Eclipse is running out of planets and changing their naming convention to constellations for wells.