Jefferson Co. Land group is with Great Lakes Energy LLC

Has anyone heard of Great lakes Energy LLC ? Not much info online.

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Permalink Reply by Chris on August 19, 2013 at 2:01pm
The last Great Lakes energy I knew of was based about a mile from my house and was bought by range resources about 10 years ago.
Permalink Reply by Terry giuliani on August 19, 2013 at 2:28pm
Chris
Now that you say that, I was approached by them on my first lease but by the time the lease was final it was with Range Resourses. This one I believe is from Canton. Website is just a single page with contact information. This one is a LLC. Cann't figure it out .
Permalink Reply by Mark McGrail on August 19, 2013 at 2:59pm

Isn't this one of the groups fronting for Aubrey McClendon, and run by Orange ?

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on August 19, 2013 at 4:28pm

No, that's Great River.  

Permalink Reply by Corvette on August 20, 2013 at 2:05am

Terry, it's Great River, run by Aubrey McClendon. American Energy Partners  are the drilling company working with  Great River. They did take the Market enhancement clause out, which is good. But I didn't care for the part where the landowner pays 20% of the Ad Valloram taxes. Still thinkin.

Permalink Reply by Terry giuliani on August 20, 2013 at 5:19am
Corvette
Me too have not signed yet
Permalink Reply by Terry giuliani on August 20, 2013 at 5:23am
Sorry guys I got the name wrong
Permalink Reply by Garfield on August 20, 2013 at 6:33am

The AD VALOREM TAXES are a big mistake.. wouldn't so much as even think about it!

Permalink Reply by Garfield on August 20, 2013 at 11:42pm

Ok.. I never thought I'd sign a lease with the ad valorem.. but after talking to my friend he said it's not a problem and we'd only have to pay a small amount and it won't affect us much if we're actually in a unit making money it's a proportionate share.

They got rid of the Market Enhancement Clause.. in Great River's Contract.. so me and my friend are going to sign up with Attorney Joseph Corabi's group.

Deadline is:

Aug. 30 9:00 am - 7:00 pm - Lease Signing
St. Florian Hall 286 Luray Dr. Wintersville, Ohio

Aug. 31 9:00 am - 12:00 noon- FINAL Lease Signing
St. Florian Hall 286 Luray Dr. Wintersville, Ohio

We've agreed we're NOT missing this one since once AEP and Great River are done gathering acreage.. the price will likely fall back much lower and things will quiet down.

Don't want LEFT BEHIND.. deadline is next week best get on the ball!

So far with Corabi's Groupo.. This is the best I've seen in years far as no market enhancement and that's a big improvement to us! Shut in fee is fair too!

Good luck and I hope everyone makes a smart decision.

Permalink Reply by Corvette on August 21, 2013 at 3:17am

Gar, I will probably be signing also. This will help my retirement- old Wheeling Pitt guy. No such thing as a perfect lease but I do not like the Ad Valorem or the shut in clause. Shut in is too long a time frame and it should be at the least$100 an acre. But all in all I can live with it. Good Luck to you!

Permalink Reply by Mark McGrail on August 21, 2013 at 3:59am

Just my two cents,

The Lessee should pay ALL taxes, Ad Valorem, Severance, Excise etc.

The shut in clause - time should be limited to six months, after that the Lessee has to pay landowner a set amount for example $500.00 an acre per year.

Again; just a thought.

Permalink Reply by Corvette on August 21, 2013 at 4:21am

I agree Mark, $50 an acre and 24 months, the Ad Valorem has the landowner paying 20% of  your real estate taxes. The company Pays full on the rest. 

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