Belmont County Activity

Recently this group has a bunch of new members but still has very little activity. How about ALL members sharing what they know is happening in Belmont County. Have you or any of your neighbors signed a lease? Have you or your neighbors been approached with any lease offers? Do you know of any landowner groups in Belmont County? What issues have you had to deal with in this process? Is anyone looking a pipeline right-of-way leases? What terms do you want in your lease when you do finally sign and why? The more information we share here with each other, the better prepared we will all be when we do sign leases and cash in on the mineral wealth under our lands in Belmont County.
Finnbear

PS - I am participating in the Smith-Goshen Landowners group, a landowner based, non-profit group. See http://hcolg.org/HowItWorks.html for an explanation of what a landowner non-profit is and how it works.

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Replies to This Discussion

Permalink Reply by Matt on August 31, 2011 at 10:47pm
im in pultney township. bellaire. 214 area. 3850 is the highest ive heard. why does it keep going up
Permalink Reply by Shower Bath on September 1, 2011 at 1:08am

Because if you are in the "wet zone" it is probably worth somewhere between $5,000 and $20,000 an acre. I know those are big numbers, but that is what has been seen in the Eagle Ford Shale Play in Texas, which has been compared with the Utica. Now, I'm not saying a landowner will ever get the top dollar, but you will get a very good idea of the value of these leases when Chesapeape sells 1/3 of the play in a joint venture in Sept/Oct. Most likely to a foriegn company.

Randy

Permalink Reply by Tony on September 2, 2011 at 12:00pm
I meet tonight with a young man from DPS PENN who is writing leases for CHESAPEAKE. He offered $3800 per acre and 17.5% royalty
Permalink Reply by Matt on September 4, 2011 at 2:12am
read the first line of the lease. its chesapeake appalachia llc. and read where they can use your land to just drill a bore to store waste or other gas. that kind of scares me.
Permalink Reply by Finnbear on September 4, 2011 at 3:28am
Does the addendum take care of that issue? Most of these shale leases I have seen have a clause in the addendum that removes the storage clause.
Permalink Reply by Doc on September 7, 2011 at 6:25am
The lease appears to be unchanged, but the suggested addendum removes the storage of both water and waste. The addendum is different than that attached to the previous land groups, so have your attorney/representative read it carefully.
Permalink Reply by Finnbear on September 2, 2011 at 12:09pm
Got a call from a Gulfport land agent this morning. $4000, 17% gross royalty.
Permalink Reply by Tony on September 2, 2011 at 12:34pm

The amount of money is staggering to me. So what if I sign? What guarantees do I have that I get this lump sum payment? What says I get this royalty money? Has anyone here actually signed a lease and recieved this lump sum payment? I guess I'm guess I'm just scared of being screwed over...

Permalink Reply by Finnbear on September 2, 2011 at 11:21pm
I should clarify that Gulfport called me direct. This was NOT our group's offer from Gulfport.
Permalink Reply by billmac on September 8, 2011 at 4:55am
i assume you took that offer? thats one of the largest amounts i have heard of in our area.
Permalink Reply by Finnbear on September 8, 2011 at 5:17am
I'm waiting on the lease to show up in the mail. I don't know if the terms are acceptable yet.
Permalink Reply by Shower Bath on September 2, 2011 at 2:31pm

Tony, Your concerns are well-founded. An individual landowner can be misled or confused by a person who does this for a living. My opinion/best advice would be for you to seriously check out the landowner group that Finnbear is involved with, or as an alternative contact the KWGD law firm in Canton and get on the waiting list for their Group 6. Your chances of getting a landowner friendly lease and top dollar will be with a large group taking competitive bids. Best of luck with whatever you choose to do.

Randy

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