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Denver Gallentine's Discussions

Modification: What happens if You Do Not Sign?

Started this discussion. Last reply by Denver Gallentine Sep 17, 2013. 9 Replies

Here is my question: The family has a section of land the oil co wants to drill on. The oil co wants a modification signed. They have offered a very large signing bonus to sign the modification (on…Continue

Contract w/ Oil/Gas Lawyer has Section I Question

Started this discussion. Last reply by Jed Clampett Mar 14, 2013. 17 Replies

I have taken everyone's advice and contacted an oil/gas attorney to negotiate a lease w/ the oil company because the lease offered was not what I felt was fair.My question is the contract w/ the…Continue

Leases in Carroll County

Started Jan 26, 2012 0 Replies

     We have land in Rose Township.  The original Lease was signed in 1964 by my parents.  Tere was also apooling agreement.  The pooling agreement was notorized, but the lease doesn't seem to…Continue

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Profile Information

Introduce Yourself
None
What is your role?
Landowner
Which state(s) are you following?
West Virginia, Ohio
What shale plays do you follow?
Marcellus

Comment Wall (11 comments)

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At 12:39am on July 1, 2013, Robin Hockett said…

Hi Denver, the energy company already had the rights from way back, surface use then mineral, but guess primary passed and didn't will to anyone so they did a search for all heirs and my Mom's generation was as far as they had to go.. all in all as I say, small share of a small area of land, and most of the heirs had already signed amended lease before they found us.

At 10:24pm on December 21, 2012, gasoholic said…

Denver, Merry Christmas and Happy Holidays to you and yours also! 

At 2:37pm on December 21, 2012, Brent Laner said…

Thanks Denny! I'll settle for one big one!! Merry Christmas to you and your tribe also.

Brent

At 1:45pm on December 21, 2012, Kim D said…

Thank you for the Christmas wishes, Denver...what a nice surprise.  I, in turn, hope the same for you!! Merry Christmas to you and yours!!

At 10:51am on June 27, 2012, Utica Shale said…

Denver,

 1st, I did say that I would sell my royalties for $50,000 per acre.

 But I do not think any investor would ever pay that amount.

 So, a fair offer is somewhere between $5,000 and $50,000.

 Probably more like between $5,000 and $18,000 (see below)

 

 Assuming wet gas area and one producing well per 200 acres of the PU ...

 1 well in a 200 acre PU or

 3 wells in a 640 acre PU or

 6 wells in 1,280 acre PU

 are all roughly the same royalties per acre.

 

 We can estimate between $300 to $500 per acre per month for the first year.

 That is $3,600 to $6,000 per acre total royalties the first year.

 Then another $3,600 to $6,000 per acre total royalties for the next 4 years.

 Then another $3,600 to $6,000 per acre total royalties for next 7 years.

 Note rapidly decreasing royalties and the well(s) must last 12 years.

 

 Total Royalties is $10,800 to $18,000 per acre over the entire life of the well(s). 

 

 Selling Royalties for $5,000 per acre is about 50% of the low end (only 27% of the high end).

 50% cash-in-hand for you today and maybe 50% royalties eventually for the investor.

 If you need the guaranteed cash today then consider offers over $5,000.

 

 I decided that I want 100% of my royalties and will risk waiting for a well. 

 $18,000/acre royalties over 12 years could be lower taxes than a huge lump sum payment.

 

 Decisions - Decisions ...

 

 

At 7:46pm on April 27, 2012, Matt Williams said…
Hey Denver, have you sent out the papers we talked about? I have been watching, but nothing yet. Matt
At 9:07am on April 13, 2012, Matt Williams said…
304-785-9628 is my number, give me a call.
At 6:20pm on April 12, 2012, Matt Williams said…
Denver, I had a great aunt named Agnus. I think her married last name was Sole. Is this her?
At 6:32pm on January 25, 2012, Jan R. said…

I will check this out.  Thanks.

 

At 4:53pm on January 25, 2012, Utica Shale said…

I own acreage in Columbiana County and Coshocton County but none in Carrol County.

 
 
 

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