Replies to This Discussion

Permalink Reply by psychosid on October 2, 2011 at 2:29am

4% of the BONUS.  I was past my 15 minutes to edit.  Why is there a 15 minute limit to edit a post?

Permalink Reply by michael j belaj on October 7, 2011 at 1:35am

That is the math for 4% of the bonus.

Permalink Reply by Mickgyver on September 30, 2011 at 5:18pm

The whole situation is not being tired of waiting for an offer it is to masterfully control part of the outcome of the final result, when too many cooks get involved it does spoil the broth , The land groups that have held off have done so because the people involved have strongly maintained the ability to do what is best for their entire group and not just them selves . The only reason the money has gotten better is because some groups that did their homework held out long enough to get the companies to give a little more . The true value of the large group is the fact that they can more effectively generate a better addendum list to be added to a final lease . When you live in the area ,the last thing you should do is rush just to get the money without considering the outcome of your properties use ,it will last for generations The groups that are popping up see the large amounts of money that they end up with when they charge the various percent of the bonus money and they won't live with the results . The people with a little of their own life committed to a group is a group with the best intentions for all concerned . It is a great situation to hold for a while because anyone can see that the longer the production was done in the Eagleford or Bakken Shale the more the landowners initially got . Since our area was compared to both of those shale areas history most likely will repeat itself . I feel those that signed earlier slowed down the steady increase in the properties true value because they were under informed or just plain lied to .While trying not to be rude an offer was always very easy to get, but in order to get a true price that your property is valued at requires due dilligence and patience . In reality the royalty is the real future return but even at 1 or 2 % of the bonus with a large acre block a lot of money is handed to a few  of the people that may not have an acre involved. Also if the people don't know about the coal situation in Belmont County they should do a lot of homework before attempting to negotiate in this area

Permalink Reply by 0i7okn54zwbdo on September 30, 2011 at 5:28pm

This is a terrific summation of things.  You should post this on every thread on this forum.

Permalink Reply by Mickgyver on September 30, 2011 at 5:41pm

Thank You Marcus , It is not that the landowners are being greedy , but this situation occurs in many areas where the person with the most to lose is the one that is least informed. It happens with many companies that add wrong information to their stock research material just to lure the less fortunate into a false sense that an investment is a good choice especially when  it is for a persons retirement fund and many other situations that affect the outcome of our lives. It is a fortunate thing for landowners to be able to get a chance to not have to pay for 30 years of their lives to own a home or property and be able to spend a little more time and money to make the ones you love comfortable but be informed enough so that comfort doesn't come with a price too high for the future of us all. I am afraid the groups that may pop up now are just going to get an easy hike through the woods where the explorers made the path, if you get my meaning

Permalink Reply by time will tell on October 1, 2011 at 10:38am

thats a good point psycosid

Permalink Reply by Cheyenne on October 7, 2011 at 1:15am

For what it's worth, I have been told that the Monroe County Well (near Graysville) will in fact be a horizontal well with each of the legs extending 1 horizontal mile from the lower portion of the verticle shaft.

Lots of rumors and gossip out there right now, but this was told to be someone that usually is very careful & correct in what he says.

 

Additionally I would like to add my opinion about the Smith-Goshen Group. The leaders are good people with hororable intentions. They've worked very hard in representing us landowners. It would be great if we had the same quality hard work and dedication from our political representatives, maybe the bonus tax imposed on us landowners would'nt need to be at 48%. We're holding firm to the group with our land in Belmont County. I'm sure that a few landowners may be flushed out of the group by allowing themselves to give in to fear and uncertainty. Most of us farmers & hard working landowners here in Southeastern Ohio are not strangers to adversities far more challenging than what we are experiencing now with this lease matter. Our ancestors came here with little or nothing, worked this land during drouts, depressions and wars. Those without the grit sold out and left somewhere along the way.  We'll dig in, hold our ground and stay in the fight to the end.   

 

Permalink Reply by Finnbear on October 7, 2011 at 4:49pm

Is that the Whitacre well? It has a single 5625' lateral and a 504+ acre drilling unit. The unit has room for another well parallel to and on each side of the original lateral. I have attached a .pdf file of the drilling plat map.

Attachments:

• Whitacre Well 34111243020000.pdf, 2.2 MB

Permalink Reply by michael j belaj on October 7, 2011 at 8:52pm

Finnbear I just made a copy of the plat thanks for the post. Have they started drilling the well? Every time I look at these plats I am amazed. Thanks Mike 

Permalink Reply by Cheyenne on October 8, 2011 at 12:14am

Yes, You're probably right about the one leg, for now. I would imagine that the investors will want to see how the first leg goes (produces) before making another horizontal leg. 

Attachments:

• Monroe County Well.JPG, 1.1 MB

Permalink Reply by Finnbear on October 8, 2011 at 3:36am

The unit, as it stands today has room for two more wells. It may many years before they drill the next one though.

Permalink Reply by Steven Gardner on October 8, 2011 at 1:24am

Finnbear .. beat me to it. This plat is the first one I've seen that deveates from the 30° well bore direction and it looks to me like they leave room for two more bores on each side at the 500' spacing. If they later bore north too . . they could get ten off this one pad at the 1000+ acres. I also got the Kimbolton well plat yesterday and it has a bore direction of 11°

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