Carroll County Ohio SURE Group

Just got a call from my parents, they are part of the Carroll County Ohio SURE (Standing United Really Excels) Group.  They just signed over 7000 acres for $3500.00 an acre with a 20% royalty clause!   You guys need to remember this when your dealing with the companies! That is a BUNCH of money!!!

 

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Permalink Reply by Larry Andrew Chako on June 10, 2011 at 11:09am

Dear Mr. Jenkins,

 

I am a member of the Marcellus Shale group and I own a small parcel of land in Trumbull Co. I've been sent a draft lease from a landman representing Chesapeake. I would be very grateful to receive a copy of the lease the SURE Group negotiated? I would like to compare the language before I get back to the landman and begin to negotiate. 

 

Thanks,

Larry Chako

Permalink Reply by Finnbear on June 10, 2011 at 5:18pm

The ALOV/SURE lease can be seen here at http://www.alov.us/

 

Permalink Reply by Larry Andrew Chako on June 11, 2011 at 2:17am
Thanks so much for the information.
Permalink Reply by MonBel O & G Landowner Watchman on June 11, 2011 at 5:23am

That offer might be good, considering the 25 to 50 dollar per acre bonus and a lousy contract we had in this area exactly one year ago this month..........Put contract language with a FIRM, DATED DRILLING COMMITTMENT and a whole lot more together with the actual values of the Marcellus, the Utica and the "TBR" and RECONSIDER THE SUPPRESSED INFORMATION along with THE MBO and MCF VALUES PER SECTION. You may then wish to rethink the current leasing talk we are seeing on the net. WE are only beginning the first inning of this ball game!

Permalink Reply by Larry Jenkins on June 13, 2011 at 5:12am
RL Yes I agree the offer we accepted was very good but it will be worth more money a year from now.  Problem there is keeping that many contiguous acres together for another year!!  As i said earlier the money is not nearly as important as the lease!!
Permalink Reply by Robert J Ellis on June 21, 2011 at 4:14am
I have been offered a lease by Kenyon Oil for Chesapeake and I just received an email that Kenyon would not be leasing after June 30 in Braceville Twp. where my property is located.  I'm not sure how meaningful this is as far as getting any future offers from other companies.
Permalink Reply by Mike h on June 21, 2011 at 4:22am
Braceville Twp. is Trumbull County not Carroll - not sure what it has to do with this thread about the SURE group.
Permalink Reply by Mark Allen on June 24, 2011 at 3:13pm

The lease is the base, the addendums[ryders] are the meat , remember if you have the proper addendums you will be in good shape. The holding of acreage sometimes can be difficult, how long do you hold out. Sometimes the best offer is from a company who will drill, some are giving big promises of $3500 and 20% just to get attention, have they paid?     NO It is intent to purchase with many stipulations.

 

When a company comes to you and wants to make an offer, get the lease form accepted 1st,then a fair royalty and then market vALUE bonus.

 

so RL has your acreage hit $2000 AN ACRE YET?  or are you still at the  $50 per 

Permalink Reply by Larry Andrew Chako on June 28, 2011 at 4:17am
Does anyone have a ballpark $ figure a on what a fair shut-in royalty percent might be?
Permalink Reply by MonBel O & G Landowner Watchman on June 28, 2011 at 6:18am

Investigate here  www.mineralrightsweb.com

 

 

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