Here are few more things most have learned along the way:
It takes ALOT of research if you want to know what you're doing - these OGas companies have 150 years of refining to get the most out of the landowners. GoMarcellusShale has tons of information.
Don't go with the basic Oil/Gas lease as these are one-sided for the Oil/gas company. Many around me signed early and are freaking out of the rights they signed away.
Go for gross royalty (not net). Make sure the lawyer puts in wording that protects that gross royalty from becoming weakened.
Watch out if Landmen come back. Some will say just about anything to get you to sign. They can be very aggressive and try to scare you into signing - especially their boilerplate lease. Be wary of any lawyer they reccomend.
We went to several lawyers before we found one that seemed fair. Jeff Rokisky is who we went with. We have no lease yet so he's still unproven. We are not leased yet but CHK and HESS have leased almost everyone around us. Just as we were getting ready to negotiate CHK (who is in our immediate area) had they're big mess-up last year. There is a well drilled very close to us and rumour says that it's good. Time will tell. Right now CHK is trying to save it's leases that are running out. Some early leases had been signed and these are the ones about to expire. Hope this information helps you. You might want to look up: Uticashaleblog.com for some interesting charts and maps.
What makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen.[ Read More ]