Replies to This Discussion

Permalink Reply by Jeffrey L. Rubis on September 9, 2014 at 5:24pm

People must be getting interested in Springfield twp. in Jefferson co.as this past week I have recvd. offers from 2 law firms and 2 oil companies...but I feel the oil company offers aren't worth considering at this point...holding out for a better offer....

Permalink Reply by bo boboski on September 9, 2014 at 10:35pm

I've heard people around Amsterdam are getting offers to lease from$3500 pr. acre and 15% royalties to $5700 and 17%. Don't know about mineral buyers. They must be thinking about drilling. Isnt there numerous old coal mines around that area? And would that be a problem? I also heard of a pipeline going under the town itself. That may be another reason for the recent interest from O&G co.s They'll have a way to get the product out & sell it.

Permalink Reply by bo boboski on September 10, 2014 at 12:15pm

Jeffrey, where are you located in Springfield twp.?

Permalink Reply by Jeffrey L. Rubis on September 11, 2014 at 5:00am

Actually Wolf's Run, out side of Amsterdam, Ohio...138 acres on the top of the hill.....

Permalink Reply by Ryan N Nyardy on September 11, 2014 at 5:07am

Jeff, it's always good to weigh your options. If you'd like to receive other offers, feel free to contact me anytime. 

Ryan N. Nyardy

Sr. Partner/Land Agent

Buck Run Energy Partners, LLC

ryannyardy@hotmail.com

614.949.7331

Permalink Reply by TERRY L MILLER on March 14, 2016 at 5:28am

how come there's no up dates up to now from back in 2011, my lease is up  april 11 2016

my property is in the northern section of Jefferson co. bordering  to my north Columbiana co. and to my west 1 mile carroll co. any one have any info I would like to talk with you.

sincerely Terry Miller email me at terrymiller92253@att.net

Permalink Reply by Jefferson on March 18, 2016 at 11:34am

We have been contacted to start renewing our lease it ends in August 2016.  We are in southern Jefferson near Jefferson/Belmont/Harrison border.  It can also auto renew at same rate/terms.  However, they say they don't have that kind of money due to low gas/oil prices.  I agree they might not have the money but I don't want taken advantaged off either.  They are also trying to change language in the lease to benefit the oil company and not the landowner.  Have heard of others that the oil companies are just letting leases expire.  Have also heard of others getting auto renewed at same terms which is what many of the 5+5 or 5+3 leases are.  We randomly get letters from a company in PA and Carrollton to buy minerals/royalties but those just go in the trash. Hope this helps.

Permalink Reply by Matt Lanctot on March 21, 2016 at 3:56am

@Jefferson

I've worked in both leasing and buying minerals.  It is hard to say what the best route to take without knowing what they are offering to renew the lease.  In all areas, operators are attempting to renegotiate this payment, as prices are just too low.  Many have not renewed at all, and here in PA, some of those terms/payments were already very low. 

In my humble opinion, if the offer is too low, I would allow my lease to expire.  You'll be told that they might drill "around" you or that your minerals are worth much less without a lease, but that is far from true in many cases.   If you take a renewal payment of 500/acre and they return to lease at 2000/acre in a few years, that would have been a 1,500/acre loss.  As far as the new lease terms that are "benefitting the driller", I would be happy to look at those and see if it's common language or if they are asking for too much.  I would recommend an attorney to do that also...an oil and gas attorney.  A lawyer without at least a few years in the industry would call people like me for the answers - it happens every day. 

People who lease or purchase minerals often try to devalue your minerals - that's their job.  It doesn't always mean they are wrong, but it is irresponsible for someone (anyone, including you) to assume they know what's going to happen next.   Best thing to do is hedge against either outcome, as far as I'm concerned.  That's something you need to decide based on your financial situation.  I always tell folks to speak with their families, then to a financial advisor.   I'm meeting with one this Wednesday regarding my own mineral assets...I'm sure I know what he'll tell me: prepare for the worst and be ready for the best, meaning NOT to keep all of your eggs in one volatile-and-uncertain basket. 

That said, I don't know why you would "trash" offers to purchase your minerals.  

Permalink Reply by TERRY L MILLER on March 21, 2016 at 4:20am

WELL IF THEY DONT WANT TO RENEW THE 3 YR LEASE UNDER THE TERMS ON THE CONTRACT THEY CAN BLOW WIND.. MY SON IS 18 AND CAN WAIT THEM OUT. THE GAS AND OIL PRICES WILL SKY ROCKET SOMEDAY WHEN THEY QUIT PLAYING THERE GAMES TRYING TO GET SOMETHING FOR NOTHING.. I CAN SEE HOW THEY CAN SPEND MILLIONS OR BILLIONS ON LEASES AND JUST WALK AWAY LEAVING ALL THAT MONEY ON THE TABLE. I'M A GAMBLER AND THE ARE TO.. I'M HOLDING A WINNING POKER HAND AND THERE GONG TO HAVE TO CALL TO SEE IT. I JUST HAVE TO TELL THEM THANK YOU VERY MUCH FOR THE FREE SIGN ON BONUS MONEY. THAT WAS VERY NICE OF YOU ALL. PLUS THEY DIDNT PUT THE NEW PIPE LINES AND THE FILTERING PLANTS IN JUST FOR SHITS AND GIGGLES.. THAT WOULD BE VERY CARELESS BUSINESS ,THANKS FOR YOU RESPONSES

Permalink Reply by Jefferson on March 21, 2016 at 1:48pm

Well said Terry!!!  I"m willing to wait it out, I'm young and my kids are younger.  

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