lease offers in stark county

Chesepeake tells me they are closing operations in Stark Co. because they have about all of the land leased,I better sign on before they move on.Latest offer is 1000$ for 10 years or 750$ for 5 years,even though there are some in Stark getting over 1500$ for 5 years.I am not sure what to believe.

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Replies to This Discussion

Permalink Reply by Allen Voshall on April 19, 2011 at 4:03am

James,

That's $1500 for 10 years in Stark, right?

Permalink Reply by David Mohn on April 19, 2011 at 9:00am
I signed back in Nov. for 1500 per acre for 10 year lease.  The also offered 1000 for a 5 year lease with the right to renew the lease for another 5 years and 1000 per acre offer.  I felt that if they are going to drill they will do so within 5 years.  Then they have the land tied up for however long the well produces.  I took a gamble like everyone else.   Just my opinion.  Others in the area went for the 5 year lease.  Who knows who is right? 
Permalink Reply by Allen Voshall on April 19, 2011 at 11:26am

David,

I'm inclined to agree with you, chances are that they will get underway before having to renew lots of leases, so probably better to take the 10 year option.  But no way to be 100% sure.

Permalink Reply by James Harber on April 19, 2011 at 4:58pm
You can take that price now, if you have to have it, but if you would wait another 6 months the price will be a thousand dollars higher. I know most people need the money NOW, and I understand that, just make sure you take no less than 15% royalty. We are talking about 40-50 years of income for you and your family and children. Of course, you know the oil and gas companies make $1 billion dollars off each well, right. You do the math.
Permalink Reply by Allen Kraft on April 20, 2011 at 1:04am

I've communicated with a local operator that has quite a bit of HBP (held by production) acreage in OH.  He has been in the business for about 30 yrs.  He is waiting for about $4,000 per acre with a carry and an option to participate in the wells.

 

Just to give people an idea of the possible numbers.  He no dummy.

Permalink Reply by michael moschella on July 12, 2011 at 11:57am
Please send me information on your land we are leasing in Stark county starting at 1200 12.5% royalty 5 year lease How many acres do you have.
Permalink Reply by james r smucker on July 12, 2011 at 5:03pm

I have 95 acres in sw Stark county.

 

Permalink Reply by michael moschella on July 13, 2011 at 5:10am

James my number is 724.914.

0532 and I am with abarta oil and gas out of pittsburgh pa ty

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