Replies to This Discussion

Permalink Reply by JK on December 2, 2010 at 1:43pm

Tim, Did you see the article in the Dominion Post this past Sunday?
That family is from PA and got royally screwed by Chesapeake when the mother, who was in a nursing home, signed away the farm for $50 @acre and 12.5% royalty (the lowest legal number). After she died then the family got in tough with Chesapeake and contacted the VP from OKL. They renegotiated the terms and got $8k an acre and 20% royalties, retroactive from 2007. I am saving that article.
It was on page 4B, 11/28/10.
It seems the lower WV counties are really being shown low numbers because the gas co's think they are so dumb, it appears. So being a land owner here in rual Mon county has me on alert already.
Good luck,
Judy

Permalink Reply by Timothy M. Greene on January 3, 2011 at 9:59am

Sorry I did not see the article. Some of the lower counties are at the 500.00 per acre, some are in the 1 to 2 thousand. It just depends on where you are located.

 

It is best if you deal directly with the gas company and not the broker. The broker typically has a ceiling that he or she can offer.

Please call or go to www.landandmineralmanagement.com if you have any questions or need further assistance.

 

Tim Greene

Permalink Reply by Karen on January 3, 2011 at 9:52am

I just got a purchase offer, not a lease, of $1250 an acre.

They were interested in buying leased, or unleased.

It's for 1/4 interest of 28 acres.

Permalink Reply by Timothy M. Greene on January 3, 2011 at 10:02am

I would be careful with purchase offer. Typically the offer is low and needs to be negotiated higher. Also, unless you know the value of what they want to purchase, you cannot make an informed decision.

 

I would suggest you have the property valued every three to five years to be able to make those decisions when the opportunity presents itself.

 

If you have any further questions, please call or go to www.landandmineralmanagement.com, if you need assistance.

 

Tim Greene

Permalink Reply by Karen on January 3, 2011 at 10:06am

I have a good local attorney, he will be shopping this for me.

The first one we sold, he got more than double the highest offer I had gotten.

Permalink Reply by JK on June 6, 2011 at 4:25am

Are there any updates for Mon county?

I saw where there is some activity in persuing permits.

It does look sluggish to me though.

Does anybody know of drillers plans?

Thanks

Permalink Reply by Henry Edwards on August 19, 2011 at 11:09pm

EQT will be permitting wells in Mon county outside of Morgantown near Osage involving one of our properties. The have informed us that they will not renew a lease on our other property which is about 67 acres very close by so we are looking for a company to lease that

Permalink Reply by JK on March 6, 2012 at 12:19pm

Henry,

Did you find another company to lease with?

I am curious to see who else is interested in Mon County.

Thanks.

Permalink Reply by Henry Edwards on March 7, 2012 at 8:53am

Not yet-I do know that Chevron is making a plan for Mon County. If you find someone looking let me know.

Permalink Reply by RGB on March 29, 2012 at 2:56pm

XTO is leasing

Permalink Reply by john on May 22, 2012 at 1:09pm

who can I contact at XTO?  Thanks

Permalink Reply by Henry Edwards on May 31, 2012 at 6:40am

I need same info-Things have really slowed down

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