Comment

Comment by Private KeepOut on August 2, 2011 at 5:13am

Also, I'm trying to get a couple neighbors to come to the next meeting...to at least see what KWGD has to say.

Comment by RobertS on August 2, 2011 at 5:10am

That's what I wondered. Are there any legal requirements for contiguous acrerage. I'll need to get my neighbors together.

Comment by Private KeepOut on August 2, 2011 at 5:08am

Robert & Christiene, I'm on board with KWGD....I just signed the the packet info and sent copies of deeds to them today. My only question is if the O & G Co. want contiquous acreage....how will they get that if we are all spread out?

Comment by Christiane Marshall on August 2, 2011 at 4:53am

Thanks for taking the time to respond. There's really too much to learn to be able to protect ourselves. I like the idea of being part of a group. And everyone having the same attorney is a positive too so that things don't get bogged down with ten different legal opinions going back and forth. I just talked to the paralegal at KWGD and will be looking at their documents today.

Comment by Christiane Marshall on August 1, 2011 at 8:08pm

On the DNR website it states:

"During lease negotiations, remember you were the one who was approached for the lease. There is no obligation or hurry to sign even though the lease person may try to instill a sense of urgency to do so...."

What is everyone's take on this? Do we have more negotiating power if we wait or should we approach the companies?

Comment by Mark Curry on August 1, 2011 at 3:19pm

The lease would address gas royalty separately from oil..that's how the ones I have seen do it..they state 15% oil, 15% gas..or words to that effect.  Pay particular attention to a "gross" vs a "net" royalty..net is after operating expenses..so your 15% could drop to 12%, or 9%..after expenses.  Gross is better, and fairer!

Comment by Christiane Marshall on August 1, 2011 at 2:38pm

Thanks Mark. So when you sign a lease, and if they find oil, is the value then reflected in the royalties? Or should there be something in the contract about that possibility?

Comment by Mark Curry on August 1, 2011 at 2:04pm

The principal "play" under Noble County is the Utica Shale.  When you research this "play", you will find that it tends more towards a oil shale with some gas, vs more gas and probably little to no oil n the Marcellus.  If they drill and hit oil, its more valuable these days than gas due to the price per barrel of oil.

Comment by Christiane Marshall on August 1, 2011 at 12:40pm

Does anyone understand this map I found at ODNR? It looks like there is no Marcellus in Noble County:

 

http://www.dnr.state.oh.us/LinkClick.aspx?fileticket=c070Q7UtUyo%3d...

Comment by Private KeepOut on August 1, 2011 at 12:17pm

I think it has to be added by admin.

• ‹ Previous
• 1
• …
• 11
• 12
• 13
• 14
• 15
• Next ›
• Page