As anyone signed in pultney towship belmont county? Never Asked

Hello. i have 80 acres that I own the rights on. Im outside of bellaire on rt 214. I did deed searches and noticed that my neighbors all signed with reserve energy in 2006 for $5/acre/year. That makes me want to puke. Will anyone ever be back to ask us? I have 80 my neighbors have 80,30,8,124,18, and 24. so with a combined 364 that have not been leased yet you think someone would be askin? Equity now owns all of the surrounding mineral rights can they drill adjacent with out owning ours?

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Permalink Reply by Jim Litwinowicz on August 28, 2011 at 3:08am

Be smart. Have a meeting of all those landowners.  Organize, learn as much as you can, share attorney fees, and then approach several companies to get the best deal you can.  Groups have much more leverage than any individual landowner.

 

They can drill adjacent to boundaries but are not allowed to drill under unleased property.

Permalink Reply by Finnbear on August 29, 2011 at 4:33pm

When do those leases signed in 2006 expire? If they were 5 year term, they should end this year. Did they have an extension clause? if so, does the landowner have the right to refuse?

 

Permalink Reply by Matt on August 29, 2011 at 10:34pm

10 year leases 5 per acre per year over 10 year. 50/ acre basically

 

Permalink Reply by Finnbear on August 30, 2011 at 1:56am
Your neighbors are stuck with that until 2016 when it expires. This is another example of why people should never sign a lease without fully understanding what they are giving away. A few dollars spent on a good explanation from a competent oil and gas attorney would have done wonders for your neighbors. I can't believe they gave away drilling rights for 10 years that cheaply.
Permalink Reply by Matt on August 30, 2011 at 9:46am
horizontal deep well???
Permalink Reply by Finnbear on August 30, 2011 at 2:18pm
Yes. The ODNR website shows they drilled to the Trenton and plugged back so they could drill the horizontal leg.
Permalink Reply by Inchworm antenna on August 30, 2011 at 4:47pm
My understanding is DPS Penn, who is signing for Chesapeake is interested anywhere in Belmont.  I know Consol drills there too.  With 80 acres you may be able to support a vertical Utica deep well all on your own.  You can also call Equity and ask if they would like to lease your land but for more like at least 3k per acre.  If they are not agreeable then tell them you will consider leasing with another driller who hopefully will put a vertical deep well on your place.   good luck
Permalink Reply by Matt on August 31, 2011 at 1:43pm
a neighbor just went to nals meeting. saying they are signing for 3850 in belmont county. is this the highest yet? dps penn is saying they can even do better. what in the world is going on. 17.5 % royalties. is there that much gas under 80 acres??
Permalink Reply by Finnbear on September 1, 2011 at 4:37am
Last week, NALS was offering $4250 in Belmont. When contacted this week they retracted that offer. Now its $3850? I still think they are just shopping prices around the O&G companies to see if anyone bites. I very seriously question whether they have a real offer from a driller at that $.

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