I'm new to "gomarcellusshale", as well as new to this business. We have a 152 acre farm with "Clinton" gas wells which supply our needs.
We've been approached by Fossil Creek Energy Corp (FCEC) for $50/acre, 12.5% Royalty, and $10,000 if a well is drilled. We are sitting on the Utica Strata. I've carefully read the lease and am very suspicious of the terms. We are consulting attorneys. I don't see any members from Noble County..and some interesting notes from Guernsey which lead me to suspect the FCEC lease. Can they broker a lease after signing "cheap"?
We have news of ARTEX Oil offering leases in our County, they're out of Marietta. Any comment on FCEC, ARTEX, and my suspicions would be welcomed!
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Teresa, I'd love to get a copy! Our situation is there's 7 of us cousins that own the land ~150 acres..I'm in Maine...my bro in law is on the farm as is my mom..we are trying keep track of the "mysteries" of this and make good decisions. We might want to get the Group (that met last week) to think together..so need a way to communicate. Maybe if we shared emails..I don't know. Working on this as we speak.
I'm very put off by being 'pressured' into a decision in 'five days' without the needed research...but if we don't all act together, and some sign, others don't..probably not as good as a group action.
My email address is sofreemac@gmail.com If you don't mind, I'd love to see the lease. I've already read one from Fossil, but that was five months ago..apparently they've changed!
Lets stay in touch!
Mark
I just sent you the lease....let me know what you think.
Teresa
Yes, my neighbor said they needed something like 1400 acres all together and that eveyone in this area needed to be on board or no deal. There are 12 or 13 people in the group and I know one of them has well over 500 acres.
Scott,
Do you know if these firms will negotiate with the small parcel land owners or are they only interested in signing up the larger ones.
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