Current State of Affairs for Guernsey County Jackson Twp:

I am new to the site, and am so thankful for this resource!  My hats off to the publisher, and congrats to all who have any interest in Ohio.  It is a great day to be learning of my fellow Ohioans having something so real and positive to hope for!

 

That said, can anyone please give me the low-down on what is going on in Guernsey County?  What is a good per acre signing bonus?  What is a good % on the lease?  What is a reasonable fee for a consultant as a percentage?  Has their been any progress in this county insofar as sampling, etc.?

 

My family's interest is about 500 acres, as we have a lot of interested parties and information seems to get lost in translation or shall we call it the classic "operator" effect. 

 

I sincerely appreciate your time and help in educating me on the basics. 

 

Jimmy C

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Permalink Reply by Philip Brutz on August 31, 2011 at 1:59am

I would contact this law firm and ask them if they are setting up a 6th landowners group. They have the best contract out there.

Ryan W. Reaves
Krugliak, Wilkins, Griffiths & Dougherty Co., L.P.A.
4775 Munson St., N.W., P.O. Box 36963
Canton, Ohio 44735-6963
Direct Dial: 330-244-2365
Main Phone: 330-497-0700, ext. 150
Fax: 330-497-4020
Email: rreaves@kwgd.com

http:// w***********

Permalink Reply by craig on August 31, 2011 at 6:20am

Personally I would never agree to any percentage of future royalties. A percentage of signing bonus or a flat per acre rate will allow you to understand what their 'services' will cost you. 

With that much acreage, I would make the time to educate myself, then deal directly with the company who is actively drilling in your area. Use a lawyer along the way. Understand exactly what it is you are signing.

That's my .02¢

Oh, and you will need a financial advisor to help you invest your signing bonus and future royalties.... and to pay the least amount of taxes that you can.

 

Permalink Reply by Steven Gardner on August 31, 2011 at 8:01am

Guernsey county is in the "wave" now in my opinion. If you're just jumping in I would first read every thing on this site .. start back in early spring, check all the adj counties. Talk to all your neighbors and see what they know. I agree with Craig .. never agree to anyone taking a part of your future royalties.. thats why I would also recommend contacting KWGD at w*********** and talk to them directly.

They also have a links page to lots of ODNR info  http://w***********/practiceareas/PracticeAreaDetails.aspx?AreaID=25

Current well operations can be found at http://www.ohiodnr.com/oil/shale/tabid/23174/Default.aspx

and more here.. http://www.dnr.state.oh.us/mineralhomepage/tabid/10352/Default.aspx

Don't sign anything until you educate yourself .. and family.. two heads are better than one and only you can do the leg work..

 

 

 

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