Replies to This Discussion

Permalink Reply by psychosid on December 2, 2011 at 4:34pm

Yeah.  There were a good number of people ready to jump aboard the Buckeye Mineral Development/ALOV when this was posted and many made calls to BMD/ALOV.  I spoke to them 4 times and was told they would take anything in Belmont.  They even put me on hold and came back on to verify.  Now.....who the heck knows?  The only real offer I've seen with good lease language is from the Lensman Group.  Des still has NO lease, no matter what he's saying at the meetings this week. 

Permalink Reply by time will tell on December 2, 2011 at 4:56pm

psychosid , can you add me to your friend list , thanks

Permalink Reply by time will tell on December 2, 2011 at 5:05pm

I have been contacted by a lot of other landowners with the same story , do they really think that we don't talk among each other . 

Whats your thoughts on the long term commitment ?

Looks like a way for them to take you out of the market for a while . As for us were not tying any thing up long term .

Permalink Reply by psychosid on December 4, 2011 at 5:44pm

No chance on the 180+180 day commitment!  Bob Rea is knowledgeable and I believe his process of looking at contiguous acreage and marketing that acreage has merit.  He admitted at the meeting tonight that BMD doesn't have any offer for Belmont County and he even went as far as saying he would never shop an offer during negotiations.  I don't think too many would sign on to the 180 day commitment.  That is a long time.  He also talked about Chesapeake driving the market and stated next year they will begin producing with their joint venture on alot of the acreage they have acquired.  I myself don't believe a good strategy is to hold out for a large bonus and royalty.   A good landowner friendly lease is the goal.  He also talked about force pooling and that the unit size is tied directly to the amount of acreage that can be force pooled.....I'm not sure this is correct.  I also don't know how many oil and gas companies are buying his pugh clause releasing all strata 200' below the Utica and everything above the Queenston.  The Marcellus is above the Queenston in Belmont County and is a known performer in the shale play, so I'd say they will want that. 

Permalink Reply by 09bp5t05myjl3 on December 3, 2011 at 4:34am

Psychosid,

     So I take it your family members that were members of the Lensman group signed & are satisfied? hopefully they did not get pulled away from their deal listening to the landman  has a deal, Mark Leeds deal that would take anyone that was non existent and the ALOV deal that would take anyone that also appears to be untrue & nonexistent, isn't it strange how everytime a good landowners group announces a deal all of a sudden there are all these offers that never actually exist. Have seen it over & over in last 6 months

Permalink Reply by HMMMM! on March 15, 2012 at 9:56am

Got my check from XTO today and thought i'd see who else did!! Tom hate to say it, but boy were you off on this one. LA group canceled all of thier leases and now those of us in York who signed with Mark Leeds are the only one's who got leased. Now nobody wants to lease York. Glad i did what i did, sorry for those who went with LA.

Permalink Reply by 09bp5t05myjl3 on March 15, 2012 at 10:25am

Hmmmm, You are correct at this point I have to admit I was wrong about Lensmans deal, I don't know the facts but I do know that the deal has fallen thru.

  I also feel bad for those that signed with Lensman and hope things turn out right for them! I am still in their Monroe County group at this point & hope they know what went wrong & are making sure they fix it with those landowners & get it right with our group! We are making sure as a group know what we are getting into before we sign anything and protections are in place.

Permalink Reply by HMMMM! on March 15, 2012 at 11:22am

Still can't figure out why you folks need someone to talk for you, it doesn't make sense. Especially with LA track record. Mr. Leeds told us they weren't signing with a company, he even put it on here yet people signed anyway. When i met Leeds i called company and made sure he worked for them and after taht i dealt with him and it worked out great. Would suggest you folks find a real company rep. and deal with him yourselves. Good Luck!

Permalink Reply by 09bp5t05myjl3 on March 16, 2012 at 3:33am

Gale, Hmmm has the right to come on & toot his horn, I hope he got a good lease to go with his bonus, Lensmans deal fell apart for some reason but had nothing to do with Leeds & I don't know for a fact but I also heard many of the lndowners he signed were sent their leases back by XTO cancelled as Leeds signed for amounts he was not authorized to agree to, So we all take our chances and hope it comes out right. I still see the land group as the best choice I spoke to XTO direct & the lease was the old boiler plate lease & there offer was well below market & wanted play used car sales with me (the old what will take I will need take it upstairs) no we cant do that how about this well I need take upstairs again, I am not built play those games & they refused discuss addendums till after we agreed on price & then kept saying we don't usually change our lease, But Im glad it worked out for HMMMM and hope he gets drilled soon.

Permalink Reply by Finnbear on March 16, 2012 at 5:16am

It is foolish (for both sides) to set a price before setting the terms. The terms agreed to in a lease are what is used to determine the price.

Permalink Reply by HMMMM! on March 16, 2012 at 11:27am

Please stop putting words in my mouth, i never said groups were bad! I said i don't understand why groups need people who take a % to talk for them. I'm not sure, but i don't think people in Smith-Goshen group aren't paying a % to Larry Cain. Please correct me if i'm wrong. I did gloat a bit, not because i got paid, but i was being bashed because i signed with a landman and the people now saying Lensman was doing thier best, were telling me and everyone on here that Landmen and Flippers were on the same level as the devil. But it was pointed out on here that Lensman was signing with a flipper and that is exactly what happened, they couldn't flip it so now all those people get nothing. Funny it was ok when Lawyers wanted to sign with a flipper. I suggest that lawyers are alot closer to the evil one than real landmen. Thanks for the good wishes Tom. Sid please stop with all your crap, you were the one who started a topic about how good the XTO lease was then it was ALOV then it was Lensman, but then again it is the political season, i believe they call it waffeling, you know jumping on the boat then changeing sides time after time. Sorry i made you mad and pointing out how you were wrong but you get on here and get all over people who don't agree with you. I went to look at your comments but you erased a whole lot of them. Tom me and some of my nieghbors got phone calls explaining why our checks were late(busy courthouse) but we were all getting paid, couple nieghbors i spoke with got paid some didn't yet, but NO ONE got thier lease returned.

Permalink Reply by Finnbear on March 16, 2012 at 3:49pm

psychosid,

I believe you are absolutely correct about the leasing and any near future drilling getting the cart ahead of the horse for Belmont County. As with much of SE Ohio, the infrastructure simply does not exist at this time to handle the kind of production that is expected from these wells. The area will be as busy with pipeline installation as it will with drilling activity for some time to come. The lease terms are far more important than the signing bonus because that money will come and go but the leases will outlast most of us. Those who sign company-offered boilerplate leases now will come to regret that decision in a few years. It is perfectly acceptable to go it alone IF you fully understand each and every word and clause in the lease you sign. For most landowners this will require the advice of competent legal counsel. For most landowners who don't have the time or ability to educate themselves excessively on oil and gas, going with a landowner group is a good option and the small % they give up for representation is more than made up for when  compared to signing a boilerplate O&G Co. lease.

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