Replies to This Discussion

Permalink Reply by Graybeard on October 15, 2011 at 2:47am

I'm in northern brooke cty.   $5000/18%

Tracy, WV DEP site shows a permit just issued for a well about 400 yards north of St. John's Church on Eldersville Rd. in Colliers and as you know a well is going in at the south end of St. John's Rd.  DEP map site indicates around 45 approved permits for Brooke - saw 2 Utica permits also- and  moving to the north.

Good Luck

Permalink Reply by Tracy on October 15, 2011 at 1:18pm

Those numbers sound great, thanks for the info!

Permalink Reply by Todd on October 15, 2011 at 2:43pm

Sarah,

It was $2000 an acre in July.... now it's $3000 an acre.

Once they start drilling in Hancock County like they are in Brooke County, guess what will happen to the sign-on bonus and royalty percentage?  See above!!  And we will get GROSS!

Who are you negotiating with?  His name? 

 

Graybeard.... are you getting  GROSS? I hope!

 

Permalink Reply by Todd on October 15, 2011 at 3:19pm

FYI.... Copy and pasted from Beaver County:

Hookstown is now at $3,150.00 and 17 1/2 gross. I expect it to go up a lot !   Best of Luck to you !  Nancy     ps. This is Chesapeake

Permalink Reply by Edsel Emery on October 16, 2011 at 12:34am

Todd, what wording should I expect to see when negotiating for gross royalty?

Permalink Reply by Todd on October 17, 2011 at 4:40pm

Gross royalty is the same as the value of gas or oil at the wellhead.  Your royalty paycheck is easily verifiable via http://www.dep.wv.gov/oil-and-gas/Pages/default.aspx

What you don't want is "post-production costs" in your royalty percent.  That is net and you CAN NOT verify the money due to you for royalty payments.

Permalink Reply by David on October 18, 2011 at 7:23am

I am meeting with Kenyon next week, a guy named Matt, are they buying rights and then reselling them? What if I don't want a well on my property?

Permalink Reply by Todd on October 18, 2011 at 12:39pm

Welcome to the forum David... Kenyon represents Chesapeake energy and they want to lease your mineral rights.  Just let them know you don't want a well drilled on top of your property and add it to your lease.  They will horizontally drill underneath your property and "frack" out the gas!

How many acres and in which district are you located David?

Permalink Reply by David on October 19, 2011 at 12:41am

I have only 13 acres, Frankfort road, New Manchester, WV

Has anyone consulted an attorney after they talk to the energy people? Is there someone local that is trusted to do the right thing? How long do they give you to sign after they meet with you? Lots of questions, but I am very leery of all of this, as I have seen countless people get "burned" locally by these types of things, just look at what has happened in our area over the last 20 years just in the job market, I just don't trust anyone anymore when it comes to things like this.

Permalink Reply by Jim Gibson Tope Hill WV on October 19, 2011 at 6:52am

David

I have 20 acres on tope hill, have been trying to deal with kenyon for months  very bad buisness people stay leary.  i have given up on trying to get fair contract from them be very careful of thier contracts. I am going to join a non binding landowners group represented by attorny rokisky in weirton he is dealing directly with a chespeake attorney.   be careful this could be a generational lease if u get a producing well in your area!

 

Jim Gibson Jr

Permalink Reply by craig on October 25, 2011 at 6:11am

I live in Beaver County, Pa, but have some land in Hancock County up off of 6th St Extension/High Acres Drive area. Who is pursing the leasing for CHK there, Kenyon? Who would I call, as this property is not inhabited at this time? Anyone have any amounts being offered in that area?

Thanks!

Permalink Reply by craig on October 25, 2011 at 6:53am

Edit-This property is up on the hill from Chester, if I didn't make that clear.

 

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