Replies to This Discussion

Permalink Reply by Edsel Emery on October 5, 2011 at 7:48am

I have an offer of $3000 per acre and 17.5% .

Permalink Reply by cindy dulaney on October 17, 2011 at 4:49pm

so are you planning on signing. or you going to wait

Permalink Reply by Tracy on October 6, 2011 at 2:20am

I'm in Brooke County and have an offer from CHK.  The landman from RedSky Land said I could choose between 3 tiers:  Tier 1 $3000/acre and 12.5%; Tier 2 $2500/acre and 15%; Tier 3 $2000/acre and 18%. 

He said, "CHK will not negotiate",  "This is a one time deal take it or leave it", "lease offers are going down" (and will continue to to go down), and he also added "if you don't take this 'free' money then they will go around you". 

In case you're wondering, I didn't sign.

Permalink Reply by Jim Gibson Tope Hill WV on October 6, 2011 at 1:53pm

had an offer from kenyon of 3000 and 17.5%  monday, countered with 19% and 4500 said they would "submit it" but in discussion mentioned they talked to a larger neighboring unleased property owner and mentioned $3500 for what its worth.

Permalink Reply by Sarah123 on October 7, 2011 at 9:09am

I received an offer of the same- $3000 and 17.5% last week. However, in talking to my neighbor they offered him $3400 and 17% and he has less land than I do. Has anyone been successful in negotiating? This is through Kenyon

Permalink Reply by Todd on October 7, 2011 at 2:46pm

Keep in mind we're in a bull's eye between Carroll, Harrison and Beaver Counties where all of the astounding numbers have come from in the 4 Utica wells drilled by CHK. 

 

PLEASE everyone make sure you insist on GROSS ROYALTY even if its 15%.... GROSS will be MUCH MUCH HIGHER for your families than NET or Post Production Costs.

 

GROSS ROYALTY is the VALUE of your GAS/OIL at the Wellhead and you can easily SUBSTANTIATE your PAYCHECKS.

Permalink Reply by Tracy on October 9, 2011 at 6:39am

Any pointers on how to insist on this? I was told to sign and get something, or don't sign and get nothing (and they take it anyway).  I've talked with several of my neighbors and they are also feeling cornered and don't know what to do.

Permalink Reply by Shields Mayhew on October 9, 2011 at 11:34am

Tracy

Where is your property?  How many acres?  I don't see them walking away from any acreage.  This area is going to ripe.  My nephew has property by me on Frankfort Road.  In May, they offered him $1,250 an acre.  He didn't reply amnd 30 days later, they called him back and offered $2000 an acre.  It only went up from there.  Skip 

Permalink Reply by Tracy on October 9, 2011 at 1:01pm

Thank you for the info.  I'm glad to hear about your nephew's success, as well as so many others!  I have about 6 acres on Eldersville Road.

Permalink Reply by Todd on October 9, 2011 at 3:03pm

Tracy, we are in the hottest bed for oil and gas in the country...  You have great negotiating power, but you need to educate yourself by researching.

Good Luck!

Permalink Reply by Sarah123 on October 14, 2011 at 5:25am

I tried to negotiate and got a rather rude response saying no they will not change the contract to reflect gross royalty and that they don't really want my property anyway but if I ever buy land in Harrison County to let them know. ok... Said $3000 an acre is the most they are paying in Hancock county.

Permalink Reply by cindy dulaney on October 17, 2011 at 4:47pm

who is youre neighbor ,i had an offer of 3000 and17.5g. royal not sure what to do

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