Replies to This Discussion

Permalink Reply by Mark Allen on July 30, 2011 at 2:25am

My mentor told me that this region has more natural resource potential than the middle east. He studied it for the past 27 years,coal-gas -oil -limestone-sandstone- it is all here in quality and quantity.    We are now able to unlock its true potential with the horizontal drilling.

 

I will go out on a limb here, Get ready for the Gordon,not Jeff bot the swallow formation[oil potential] at 2000 or so depth.  Just another reason why we should only lease out single formations.

Stick together,communicate with neighbors, forget about the cherry pickers!

Believe me on this,it is not about the sign up bonus it is about the lease language.

 

Permalink Reply by Josh on July 30, 2011 at 2:37am

Mark,

Seems like nobody will even hear of leasing specific formations.  Have you had any luck locating anyone that will?   I totally agree with what you say, but it seems easier said than done and we have a pretty good size group.  Any info you can share would be appreciated.

Permalink Reply by Mark Allen on July 30, 2011 at 2:55am

Yes ,we have had success. The problem is that a few aggressive local attorneys have decided to compromise their principles in order to cash in on the per acre fee. [The days of CHK, being the only player are over]. By taking the Companylease form adding a few addendums, but basically saying ''we do not know enough, so we will trust you'' that this is the best lease and deal you can make for us and then low and behold two weeks later the value goes up again.

Do you think their is power in numbers?  Acres and families need to stick together.

We have been dealin with more than 7 companies,all drilling companies sine Feb. and have always said, stick together,be uniform in our demands and we can set the precedent.  Yes some folks have bailed and took the money out of fear of the Utica play being hype only,it would be easy to sign and take what the offer is today.

 

Where's the fight, where's that Ohioan spirit?   

Permalink Reply by Al Cramblett on July 30, 2011 at 4:17am

Mark, I got the impression that you had signed a lease at $3700/17.5%. based upon a comment you posted on 19 July. Is that not the case? If you have signed a lease, are you willing to post it on this website so that we may all have another standard to go by? As you will note, I have already posted a couple of good leases put together by other landowner groups.

Permalink Reply by Mark Allen on July 30, 2011 at 5:39am

Al, we have the lease document signed. I had an option to upgrade on bonus if the change was more than 10% on bonus within the time frame of payment in full.

 

We had a time element with my sister in law because of the divorce,[another subject] but it fit our needs and wants.

the ECOL lease is what we signed under.

I will ask if it can be posted.   Ohioacres4u LLC  dba JRM Consulting and their staff created the document. 

Jim Milleson,Nick Hunley, Wes,Mark, Dawn, John, Steph,Marion,Ann,Wendel and the others have treated us well. 

Permalink Reply by Al Cramblett on July 30, 2011 at 6:16am

Sorry to hear about the trauma being caused by a divorce in the family. The fact that you have a good feeling for the people who handled your oil and gas leasing is a good thing! Have you received your signing bonus yet? If not, what's the dropdead date for receiving it?  Do you have either an oral or written confidentiality agreement concerning your lease? What document is going to be filed -- the lease or a memorandum of lease? Thanks for sharing.

Permalink Reply by porkchop on July 30, 2011 at 9:23am

Al - Have you had a chance to review the ALOV lease + notes? If so would appreciate your opinion. 

Thanks

 

Permalink Reply by Al Cramblett on July 30, 2011 at 9:49am

Yes I have Gerald. I've studied at least six oil and gas company leases, the ALOV lease, and the Wyoming Pennsylvania. lease. The folks at ALOV had a huge carrot as they were offering approximately 70,000 acres. The fact that Chesapeake was chosen as the lessor is a significant advantage for those of us with our mineral rights still unencumbered. One of the most masterful things that the folks from ALOV did was to hold the leases in escrow until the landowner received his signing bonus. If there are any more landowner friendly leases out there, I'd like to see them. Maybe the JRM lease is one of them. If it is, it would be a good thing if Mark Allen is successful in getting approval to post it on this website. After all, knowledge is power; sharing information adds to the knowledge base!

Permalink Reply by Frank Moll on July 30, 2011 at 3:37pm

Al, I am one of the people stuck in a boiler plate lease with no current activity with a small oil company that actually sold all their equipment but wont release any leases. They currently hold probably 12000 acres or so in Harrison. I have two years left and I know a lot of things can happen in that time frame but do you think there still may be land owner groups left in that area two years from now or will everything mature by then? My hope is that they dont get a buyer that wants a 18 month lease but who knows.....really just looking for your opinion.

Permalink Reply by Nate on July 30, 2011 at 3:57pm

This site tilts towards landowner groups but you aren't helpless without them. Pay attention to who your landowners are leased to. When your lease runs out call the company up (if they don't call you first) and let them know you're interested and your terms.

Permalink Reply by Frank Moll on July 30, 2011 at 4:38pm

Thanks......hopefully it all works out

Permalink Reply by Brent Laner on August 1, 2011 at 8:59am

Nate the problem I had with going alone or with neighbors was that all we dealt with was landmen who were locked into what they could offer. I'm not knocking the guys involved, but they were stuck on what they could do. The day before I signed my lease I had conversations with two other companies landmen, best they would do was $1500 and 15% and $1800 and 15%. Both knew I was an F&M Landowner member and what I would be signing for, but wouldn't budge. Now both companies are over $2000 and 17 and 18%. In my experience the landowner groups have set the bar for both up front bonus money and royalty percentage.

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