Washington County Lease

Hello,

I have about 8 acres in Washington County and my plot is about 3 miles from Noble County. I've heard Noble county is paying $3k to $5k per acre w/ the average around $3,400 per acre and 18% royalty.

 

I was offered $2,250 to lease my acres and 15% royalty. My neighbors appear to be accepting this offering so I'm assuming if I don't go w/ this company then I won't be able to go w/ anybody due to my small # of acres. Do you agree?

 

Also, the Landman said if I don't go w/ them I'll miss out on the money and the O&G company will just go around me. Can the O&G company just "go around me?" I thought they needed continuous acres all leased to drill.

 

Finally, since I'm so close to Noble county do you think $2,250 acre/15% royalty is fair? I'd really like to get the royalty up to 18% if possible.

 

Comments please.

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Replies to This Discussion

Permalink Reply by Luke Miles on June 28, 2012 at 8:42am

Who is leasing in that area?

Permalink Reply by darren l on June 28, 2012 at 4:12pm

I live in washington county and the closer you are to Noble County the better.Have patience and hang in there.Better yet, join a landowner group.Check out Washington county group site.Sounds like offers ive been hearing from "flippers".

Permalink Reply by Steve Wagner on July 1, 2012 at 10:24am
Sound advice! Check into a landowners group. I know there have been $3000/acre and 18% with a good landowner lease!

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