Replies to This Discussion

Permalink Reply by Robert on September 13, 2011 at 1:30pm

Do you mind sharing what your lease offer amount was?

Permalink Reply by Gary Ball on September 13, 2011 at 2:08pm

4900 per acre and 19%

Permalink Reply by Deb on September 13, 2011 at 2:14pm

Listen to your gut on this one. Credible contracts do not give you less than 48 hours to review or not have time to have reviewed by legal experts. What happens if you don't sign on Thursday? We heard that back in December 2010 and now offers are about twice as much with increased royalties. They tried the high pressure sales tactics and it was a turn off. Whatever you sign will have long term impact and the leases I have seen have the oil and gas companies favored. Some of the land groups have sample contracts and when you compare the two then you can see a real difference in the two. If you can not get it reviewed by legal before Thursday then consider not signing until you can.
Be wise about signing anything in a short turn around time.

Permalink Reply by Gary Ball on September 13, 2011 at 10:14pm

Very well said

Permalink Reply by Mickgyver on September 14, 2011 at 9:00am

Which Company if you can made a offer and dont be pushed you have your rights and if they want it someone elese will too if they cant wait

Permalink Reply by Doc on September 15, 2011 at 1:12pm

Suddenly both CHK and Hess are leaving messages with promises of better offers. Seems prudent to explore them all.

Permalink Reply by time will tell on September 15, 2011 at 4:03pm

when you say offers do you mean to you or a group ? Do you know anything about Exxons meeting in wheeling today and tomorrow .

Permalink Reply by Mickgyver on September 18, 2011 at 8:43am

I thought about this issue again and maybe the rush is because all of the bigger players are coming in and if you hold out too long you may be lured away to a better offer . There must be a little more solid information available that we are not hearing about to have made the area pretty hot to want to have Hess admit that they basically paid about $8800 per acre to buy into consol ,and the lowball sale from consol was over $6000 .Then chesapeke compared this utica as maybe better than the barnett shale I heard , and I was looking on this Marcellus Site (which incidentally is a real good idea for all of us to learn from)site and found a posted lease that shows what they are getting in texas Barnett where the production has been proven a little longer , xto had an offer to people in 2008 of $20,000 per acre with a 25% royalty with only 36 months primary with an extension of 2 years for another $20,000 per acre. This is obviously because the real production information has made the acres very valuable and desirable . You know for sure this is not a guesswork play for these companies because nobody would invest this heavy this early unless they knew the profits would be great . I dont mind if I make money and they make money as long as we get a chance to know what we really have under us . As I saw on another post ,our ancesters sold out the coal rights in this area for a song and we should get educated enough to prevent a repeat of this. Does anyone know where to find if a certain county in ohio will be better production versus others according to the way the underground geological plates and such run. Geology.com has a lot of information but I cant get a separation on the county variences per area as we travel west . Any thoughts would be interesting since I took sooooo long to put in my 2 cents worth