Recently contacted by land developer in Greene Twp.. Help!!

My wife and I have recently been contacted by a land developer company to sign a gas lease. We own 3 acres of land in Greene Township. Curious, we contacted this developer and a man came  to our home with a contract in hand. It offered $2k/acre and 1/8th royalties as a 7 year lease. We thanked him and said we'd look it over and contact him. We have been trying our best to do as much research as possible before we decide which direction to go in. Can anyone give us some guidance?

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Replies to This Discussion

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on April 16, 2012 at 4:18pm

$2k/acre and 1/8th is low, even for three acres.  Since CHK is the most active operator in Mahoning County you ought to get on board with them if that are willing to give you better terms.  What was the name of the company that contacted you?

Permalink Reply by Ryan on April 17, 2012 at 12:53am

We have talked to one neighbor- they've been contacted by same man and haven't signed yet- don't know about other neighbors yet. We are not near Western reserve well, we are more near Columbiana County.

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on April 17, 2012 at 4:31pm

"If they  will not say walk away as fast as you can."

Best advise I've seen on this forum.  

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