Lease Offers in Harrison County

Updated November 8, 2011

This webpage is a little over a year old. During this time frame oil and gas leasing
offers have increased significantly.

As of November 8, 2011 the signing bonus has increased to $5350-$5800 with the royalty percentage at 20 % gross. Leases are being signed by several companies. The best lease terms are being realized by the landowner groups that offer their acreage through a competitive bidding process. I personally believe the money offers will continue to increase with time. The highest offers occur when landowners pool their land into contiguous units.

Presumably, all are aware that Chesapeake recently leveraged 25% of their leaseholds in

Eastern Ohio for $15,000 per acre by forming a JV with an undisclosed oil major.

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Replies to This Discussion

Permalink Reply by Al Cramblett on June 28, 2011 at 3:14am

I made a mistake!  The title of this thread is “Lease Offers in Harrison County”. I went off topic in an attempt to explain why some posts had been deleted but ,obviously, did not communicate very well. If one were to look at the initial posts of this thread, you will note some very relevant posts by Nate. Nate's reply to the issue at hand was also “on target”. Use of this site is free unless one is operating a for-profit organization and soliciting  business. If solicitation is occurring, the site publisher requires advertising to be purchased. This defraies the cost of running this website thus making our use of the site possible and free of cost. I personally prefer this approach.

 

Though emotions have been elevated, there is a common, accepted theme which is that landowners should become knowledgeable of oil and gas leasing issues before signing a lease. How and with whom one does this is his or her own choice. Some use the low-cost option of self-education; others opt to purchase services.

 

I respectfully request that we all return to posts which address oil and gas leasing issues and avoid character assassination. In that regard, I just posted another landowner friendly lease under a thread of this heading on this webpage.

Permalink Reply by Rod Dietrich on June 28, 2011 at 3:25am
I have a question regarding this issue, I was told directly that some of the people that post are actually land men either using their real info or fake info, so how does this get handled. They are paid to get our info and try to sign us up on their non-friendly owner leases.
Permalink Reply by Al Cramblett on June 28, 2011 at 3:55am

When” for-profit” posts are noticed, they are deleted. Obviously, not all such posts are discovered. Please bring all “for-profit” posts that you discover to my attention.

Permalink Reply by Hunter on June 29, 2011 at 1:43pm
I was in harrison county today and saw 3 T G S trucks parked near hopedale exit. TGS is a geophysical company that does seismic testing. 
Permalink Reply by porkchop on July 7, 2011 at 8:19am

Where about were they located?

 

Permalink Reply by Hunter on July 7, 2011 at 9:52am
THey were right off the jewitt exit of Hwy 22
Permalink Reply by Al Cramblett on July 19, 2011 at 6:04am
As of July 2011 the signing bonus has increased to $3500-$3700 with the royalty percentage up to 20 %. within Harrison County.  Leases are being signed by several companies. The lease terms seem to be negotiable. I personally believe the money offers will increase with time. The highest offers occur when landowners pool their land into contiguous units.
Permalink Reply by scott jackovitch on July 28, 2011 at 11:37pm
What do we know about Marquette energy ?   After doing some looking around it seems to me one would stand a lot better chance of getting into a drilling unit if they were to sign with CHK. According to the ODNR website CHK has pulled around 20 permits for the Utica and Marquette has 1.  Just looking for some feedback thanks.
Permalink Reply by william on July 29, 2011 at 1:37am
It does seem odd. One can never tell with these OG companies. Marquette will probably flip to some other company. They are offering $3700/acre with 17.5% royalty as a signing bonus. That price is for select acreage in Harrison and Jefferson counties. If they are going to deal those leases then that tells me the land is more valueable than the signing bonus.
Permalink Reply by scott jackovitch on July 29, 2011 at 6:00am
After reading the CHK report today about Eastern Ohio being Rich in oil and wet gas and possibly going to have 40 rigs coming to our state it seems to me they are going to do more drilling than anyone. How many drilling rigs are owned by Marquette ?
Permalink Reply by FXEF on July 29, 2011 at 6:32am

scott,

 

I think Marquette is an Oil & Gas Exploration company, not a drilling company, therefore would not actually own any drilling rigs. Very few O&G companies own drilling rigs. They contract the drilling to a drilling company, usually at a day rate. Chesapeake is an exception to the rule, in that they own Nomac Drilling and have recently added Bronco Drilling to their drilling fleet. Because Chesapeake is so large an operation they still have to contract out some of their drilling work to other drilling companies.  

Permalink Reply by Josh on July 29, 2011 at 6:53am

Marquette Vs. Chesapeake?????

 

I am in a little bit of a pickle here.  I am currently with the bunch that is going to sign with Marquette, however not to impressed with there intentions on drilling and developing this utica shale play.  Any advice would be appreciated.  -Thanks

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