Replies to This Discussion

Permalink Reply by scott peterson on August 18, 2011 at 11:05pm

Who is that from and is that gross royalty or net?

Permalink Reply by Rachel Albery on August 20, 2011 at 12:06am

is there a group name? or someone to contact for more info?

Permalink Reply by Red Skelton on August 24, 2011 at 3:08pm

Finnbear, you are 100% correct. As a landowner,if you are not totally sure of your mineral rights and any leases which may bear on your property,do yourself a favor and do some detective work on your own. You can spend some time at your county recorders office and get a lot of the answers you need. The clerks that work there can lead you in the right direction and can be very helpful. Tell them what you're looking for and they'll know what to do,but don't expect them to do it all. If you find there's a problem it can take a minimum, in a best case scenario of 2-3 mths to clear it. Double that if their is an old lease involved. Make sure to hire an attorney to cover your butt. Believe me, I'm going thru the whole deal right now and the "dormant mineral law" is by far not the total answer it appears to be. The gas and oil laws in Ohio are definitely NOT landowner friendly and need some serious updating.

Permalink Reply by DON B on August 27, 2011 at 2:47am

I came across this article while browsing utica shale information. http://www.ohio.com/news/local/ohio-landowners-joining-up-to-get-a-...  

Paragraph 16 states :

Some lease bonuses in Ohio have topped $3,600 an acre. The company annually pays that amount for up to five years. Some of the first landowners were paid under $100 an acre in bonuses.

 

Does this mean some companies are paying the signing bonus annually? I understood the bonus was a one time payment for the term of the lease. Maybe it's just a typo.

Permalink Reply by scott peterson on August 27, 2011 at 2:56am

Typo

Permalink Reply by Red Skelton on August 27, 2011 at 3:09am

That's a one time up front payment called a "signing bonus". Not paid annually.

Permalink Reply by Finnbear on August 27, 2011 at 7:08am

There are 5-year oil and gas leases and there are paid-up oil and gas leases. A 5-year lease pays a dollar amount per acre per year in 5 annual installments. This type can be any number of years, 5 being most common, but I have also seen 3 and 10 year terms.A paid-up oil and gas lease pays the whole signing bonus up front in one lump sum. Many energy companies have gone the way of the paid-up oil and gas lease in the Ohio Marcellus/Utica Shale play.

Permalink Reply by Finnbear on August 27, 2011 at 7:01am

Not a typo, just an idiot reporter. Bob Downing of the Akron Beacon Journal (Reekin' Urinal) has taken mangling facts to new heights. He has been mis-reporting facts for years and it is frustrating to read his articles if you know anything at all about the subject matter. I sent him a nice note about this article documenting the corrections that needed to be made and even directing him to some experts and he won't even bother to respond. My brother deals with him regularly in his day job and Bob never fails to disappoint and screw up the facts in a story.

• ‹ Previous
• 1
• …
• 8
• 9
• 10
• Next ›
• Page