Replies to This Discussion

Permalink Reply by Corrho on June 5, 2013 at 5:05am

Hi everyone, I am in Columbiana County, Salem township.  I received a letter today that said many of my neighbors have sold their mineral rights to Gateway.  I personally haven't heard of any and don't have any intention of selling.  Have you or anyone you know of actually sold or is this a ploy to try to intimidate us to get us to sell.   They make the offer with a statement that says they don't know how much longer they will be able to continue to offer, they say it is impossible to know if their investments have been wise  because the ODNR well data shows that the results were not what we hoped for.  I am hearing conflicting information on that front as the oil may not be so great but the ngl is really good.

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Permalink Reply by The Hiker on June 5, 2013 at 6:34am

Ha ha, that's a good one.   If it's so terrible, why are they offering to buy your minerals?  Sounds like a bad investment to me, and even ODNR agrees (not true).  Tell him you'd rather not be responsible for selling him a "pig in a poke", and maybe he could find better, safer investments on wall street.  lol.   Yes, intimidation techniques from landman 101.  I'm sure GMS is filled with stories like this.  I have heard the "you better sell/lease now, because we're moving out..." many times personally, and friends have also.  My answer is "good, hurry, leave now".....

Columbiana County is shown to be smack in the middle of the "rich gas" window (lots of NGL's, and exactly what was hoped for).   Chesapeake has drilled many wells in Columbiana concentrated in a strip from SW to NE, and Salem Twp. is right in the thick of it.  Hence, the letter to buy your minerals (for pennies on the dollar ultimately).   This thread had another offer to buy in Wayne township-to your south.  The Utica/Point Pleasant shale play is in its early stages, and you can expect it to heat up everywhere in the coming years, especially in the rich gas zone.   These guys that contacted you are either shils for one of the gascos, who have the inside skinny and appreciate the real value underground, or reps for really wealthy guys looking for another place to stash their money and earn big returns.   Both categories can stand to wait for the play to develop, because they don't need their money for everyday purposes like you and me, and can afford to let it sit, earning nothing, knowing there is a payday bonanza at the end. 

Hold on.  Good luck.

 

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Permalink Reply by Corrho on June 5, 2013 at 9:44am

Hi Hiker, I agree with you because these companies keep nagging.  I would rather not sell to them and not get anything than to sell to them and have to sit on top of their treasures.

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Permalink Reply by joe long on June 5, 2013 at 8:58am

bounty minerals offered me 8000.00 acre to buy i am in Greene county pa.

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Permalink Reply by Tammy on June 7, 2013 at 9:24am

I'm in PA, Beaver county, Ohioville boro & I received an offer

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Permalink Reply by The Hiker on June 8, 2013 at 1:02am

Thanks joe and Tammy;   Any more out there from Western PA?  Lawrence or Washington Counties?

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Permalink Reply by mark on June 8, 2013 at 1:40am

I personally did'nt recieve an offer but neighbor was offered 2500 an acre hanover township,beaver county Pa company from AL I think it was

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Permalink Reply by mlb on July 5, 2013 at 4:43am

Tammy just curious if they gave you a dollar amount or not.  I received one also a while back for I think about 4300 an acre.  Not a lot more than bonus money.  This is in South Beaver.  Thanks.

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Permalink Reply by EG Lind on June 10, 2013 at 3:29am

We got a visit from a BP rep, offered 3900/acre 'to lease' and 18% royalties for acreage up in Kinsman area - Trumbull county, in Ohio (for you out of state folks).  

How do I know if that is a good deal?  How can I get a better deal?  

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Permalink Reply by dmac on June 10, 2013 at 3:34am

Carroll co was as high as 5900 per acre 20% gross. Last I heard its around 3500 per acre. 20% still is the avg

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Permalink Reply by scott peterson on June 10, 2013 at 3:36am

We are talking about "buying" mineral rights not leasing.

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Permalink Reply by dmac on June 10, 2013 at 3:55am

My bad. We got hit by Gateway as well. They doubled their offer one week later after we declined the first. So my advice on company's like this is to hold out if this is an avenue you are considering.

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