The Oil and Gas Lease

Are you being approached with a oil and gas lease in Johnson and Lawrence county?  Someone knocking on your door or sending a lease to you in the mail?

Below is a link to the ALOV website. It is one of the better lease contracts for landowners and oil and gas rights. There are over 200,000 acres leased using this lease in Ohio, by the Associated Landowners of the Ohio Valley.  The Lease is at the bottom of the page. S.U.R.E. LEASE 2012.  Read this lease and see how it compares to the one you are being asked to sign. Thanks to Ron for his discussions on GMS involving this lease. And for the information on the 16 oil and gas plays in the Rome Trough in the comments section.        Everyone should be aware of what a good lease looks like!!!

 

http://www.alov.us/

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Replies to This Discussion

Permalink Reply by oilgasnovice on September 7, 2014 at 3:13pm

Comparing this lease to the one received. The Sure lease is great for the landowner and rights owner. The other offers nothing but makes sure you are stuck for a very long time in exchange for very little. 

Permalink Reply by oilgasnovice on September 14, 2014 at 9:45am

The more I read up on oil and gas leases and what the possibilities are for Eastern Kentucky, I can not understand why anyone would sign a lease for $200 a acre bonus and such a small royalty percentage. When you read up on the Rome Trough, which I had not even heard of before this site, it seems it would be a big long term mistake to sign such a lease. And not even with the drilling company at that. Learning something new every time I do a little more research.

Permalink Reply by oilgasnovice on November 3, 2014 at 11:18am

Heard today that the courthouse in both Johnson and Lawrence were full of landmen looking up records the last couple of weeks. Also heard of a new one Terra Resources LLC out of Lexington.

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