Leasing in Stark County, OH

I have been working with Chesapeake Energy in leasing my land.  Has anyone else been approached about leasing.  I am told they are planning on drilling in the Utica Shale.  I am sure there are other members who have been contacted. 

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Replies to This Discussion

Permalink Reply by Nate on November 17, 2010 at 2:40am
Congrats Dave, glad you got your deal done!
Permalink Reply by Brent Laner on November 17, 2010 at 12:51pm
Dave, would you be able to share the attorney's name and number?
Permalink Reply by David Mohn on November 17, 2010 at 12:53pm
if you give me your email address. I don't want to put it in this blog. I will send it to you privately.
Permalink Reply by Timothy K. Clay on November 17, 2010 at 5:34pm
David: Are you able to share with us what you signed for. I am not sure how close we are to you we are s. of Canal Fulton on 93. Thanks, Tim
Permalink Reply by Nick Schlabach on December 5, 2010 at 6:49am
I was contacted yesterday by a rep from Chesapeake Energy on 12/4/2010. he said they are interested in drilling in our area, south west Start County (outside Wilmot, Ohio). I only have 5 acres, but there are some large farms that suround me. He said they would like to have things wraped up before Christmas. I told him that I'm not signing anything till I do some research on this and talk to all my neighbor's. Do you know of ant attorney's in this area that we could talk to? Thanks, Nick
Permalink Reply by Mike Ruof on December 15, 2010 at 11:15am

Nick:  Can you tell us what the offer from Chesapeke was for?  I am near you and was also contacted by them last week and have not agreed to anything yet. 

Thanks,Mike

Permalink Reply by Nick Schlabach on December 15, 2010 at 11:31am

They were offering $300.00 per acre and there royalty calculations were $703.00 per month. There was going to be a meeting in PlainTwp about this type of drilling that I was going to go to but it was canceled due to the weather. It has not been rescheduled yet.

Permalink Reply by Mike Ruof on December 15, 2010 at 11:51am

Thanks, I received approx. the same for small acreage.  Mike

Permalink Reply by Nick Schlabach on December 15, 2010 at 11:57am

 Mike, Where are you located at?

Thanks,

Nick

Permalink Reply by David Mohn on December 15, 2010 at 2:26pm

I live on the other side of Stark County and that is the offer they made to me last summer.  It sounded good then but I just signed last month for quite a bit more per acre.  I got together with some of the other farms that border mine and I put together about 450 acres for them.  Small group in the scale of things but it helped when we met and had about 6 people there all working together.  I think it helped by going this route. 

I would suggest calling your neighbors and see if they have been contacted.  Chances are they have and if you all work together, I think you might be more of a percentage on royalty and a large signing bonue.  But bottom line, you have to do what you feel best for you and your family.  Just try to learn as much as you can so you can make an informed decision if and when you sign. 

Permalink Reply by Nick Schlabach on December 15, 2010 at 2:32pm

Did you take the contract to a lawyer to look it over before signing?

Permalink Reply by David Mohn on December 15, 2010 at 3:17pm

actually the person from CHK brought us changes that were put together for another group.  These changes were put together by an oil and gas atty.   We looked them over and they seemed ok.  then we took them to our own atty and paid him to review them and he was ok with the admendments.   The person from CHK was very good to work with. 

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