Olin Hupp
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Introduce Yourself
I have been approached to lease land I own in Morgan co Ohio
What is your role?
Landowner
Which state(s) are you following?
Ohio
What shale plays do you follow?
Marcellus

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At 4:17pm on July 7, 2011, Finnbear said…

There is no such thing as "normal" when it comes to landmen. They all have different creative schemes for getting their "cut" of your oil & gas money. Some ask for a flat % of whatever signing bonus money they can negotiate for you. Some ask for a % of any royalty you may get. Some will ask for a flat fee. Some will take "all sums above" a figure you agree to. Some make a their own deal with the oil & gas company that is separate from and over and above your lease. Often there are combinations of these methods utilized. Your best bet is to join a non-profit landowner group if you are willing to take the time and do the research and educate yourself. A group with large acreage committed will have considerable bargaining power with O&G companies and you don't have to give up as much of your lease bonus/royalty. You only get to sell your mineral rights once so educate yourself and do it right.

 

Subject: Letter agreement with broker: Ohio Landowners
   Sent: Jul 7, 2011 7:37 PM

   A message from Olin Hupp to all members of Ohio Landowners on Go       Marcellus Shale!

   I was approached by Pro-Classic Real Estate to sign a letter agreement allowing them to offer my land in Morgan Co for oil & gas lease. Pro-Classic ask for "all sums" above $1250 for introducing me to any interested oil & gas co.

   Is a "all sums above" normal instead of a % of the per acre?
 
 
 

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