my questions

Hi everyone, I am relatively new to the forum and don't understand a lot of this. I have some questions. I have ~7 acres of land that is not yet leased. Rice Energy has a permitted (well?) on the same road that my acreage is found. Then there is another one from Rice that says "drilled" status kind of near by. Some other properties around mine are with Rice while others are not. Does it benefit me to sign with Rice since their site is close to mine? Will this increase my chances of getting royalties if it works out? When I talked to Rice it seemed they wanted to fill in existing areas near where they already had others who signed with them. I don't know what to expect with all of this in the future. I am in my early 30s and hope that this will some day benefit my children. I missed the S-G signing and am looking to the boards here for info and advice. Thanks.

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Replies to This Discussion

Permalink Reply by Finnbear on March 18, 2014 at 6:28am

Depending on what twp you are in, you might benefit most from signing with Rice or Gulfport. They have an agreement to cooperate on the development of 4 townships in Belmont where most of the leases are held by Rice or Gulfport. Who are your immediate neighbors signed with? The companies who hold the land that surrounds yours will probably be the most interested in yours.

Permalink Reply by justme1 on March 18, 2014 at 6:44am

Mine is in Goshen but the wells or sites are just over the line in Smith.

I believe there's a mix of CHK and Rice surrounding the property. I am not sure if any are with Gulfport. I don't live there, just have property there, and only know what I know from the online records search on LandAccess.

Permalink Reply by DESJR on March 18, 2014 at 10:34am

"The Rice-Gulfport agreement covers 4 townships; Goshen, Smith, Wayne, and Washington. It is not a sale or trade of acres but an agreement for Rice to be the operator of the 2 company’s acres in Goshen and Smith and Gulfport to be the operator in Wayne and Washington. This agreement between the top 2 lease owners in these 4 townships creates a very large contiguous acreage position that we will all benefit from"

Permalink Reply by MK on April 18, 2014 at 1:54pm

Do you know if  this agreement also include gathering lines?  Is rice running gathering lines for Gulfport wells? 

Permalink Reply by justme1 on March 20, 2014 at 5:09am

Does anyone have info for Gulfport? I can't find an email or contact person to call to see if they are leasing.

Permalink Reply by DESJR on March 20, 2014 at 10:49am

If you have Rices number, call them. I am sure they can get you the information.

Permalink Reply by adam sorell on March 22, 2014 at 8:00pm

I contacted them but they're least is crappy  $6500 and market enhancement deductions but the guy asked me" How does that sound to you.? Is it something you would be interested in?

If you call let me know how it goes. Good Luck.

Chase Anderson
Landman
Gulfport Energy Corporation
14313 N. May Avenue, Suite 100
Oklahoma City, OK 73134
Office: 405-242-4949
Fax: 405-242-4423

Gulfport is also using this company:   http://www.gateway-land.com/

Permalink Reply by justme1 on March 23, 2014 at 1:49am

did you go with gulfport? do you  know what their lease offer is?

everything i've done so far has been done by us initiating contact with the company; they have not contacted me to make offers like i think most do.  i am not sure if i would get offers from others. 

Rice is the only one i've dealt with so far and not anyone on their behalf--someone in the leasing office in ST C.

Permalink Reply by adam sorell on March 23, 2014 at 7:29am

No. I signed up with Great River but I don't think they will pay. I checked on Land Access.com and every company files the lease immediately. Great River doesn't file the lease for almost 6 month. Either they are terribly disorganized or they are playing games. Even if they do pay I can't imagine trying to get royalties from them since they have no contacts or anything.

I contacted gulfpot and they offered with a bad contract 2011 style.Any good lease is going to be at the wellhead gross with no deductions.

I wished I signed with Paloma. But they said no more signing after Feb. Paloma is an investment energy company. They lease up land ,drill and few token wells that produce good numbers then put all their assets up for sale and move to another area.

I am like you. I have little more than 10acres.

The terms that Gulfport Energy has approved is $6,500 x 5+5 x 20% royalty. 

Market Enhancement Clause: It is agreed between the Lessor and Lessee that, notwithstanding any language herein to the contrary, all oil, gas or other proceeds accruing to the Lessor under this lease or by state law shall be without deduction, directly or indirectly, for the cost of producing, gathering, storing, dehydrating, transporting and marketing the oil, gas and other products produced hereunder to transform the product into marketable form; however, any such costs which result in enhancing the value of the marketable oil, gas or other products to receive a better price may be deducted from Lessor’s share of production so long as they are based on Lessee’s actual cost of such enhancements . 
Permalink Reply by justme1 on March 23, 2014 at 7:39am
Mine looks about the same from Rice
Permalink Reply by adam sorell on March 23, 2014 at 7:52am

The EOU group  has a good lease but like i said I don't if they will honor it lol.

The guy signing the leases is always there on weekends in the the Curves fitness center in Bridgeport. The number is 635-0505

Permalink Reply by adam sorell on July 16, 2014 at 11:41am

So did you sign a lease??? I'm working on getting out of mine with GRE.

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