Leasing offers around Amsterdam

My farm is actually at Wolf's Run outside Amsterdam in Springfield twp.--138 acres...I just recvd. another letter about leasing yesterday...so that makes 3 offers....plus the 2 law firms in less then 2 weeks....

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Permalink Reply by Jeffrey L. Rubis on September 11, 2014 at 4:46am

Also recvd. a letter yesterday from Cougar Land Services

Permalink Reply by bo boboski on September 11, 2014 at 8:37am

Thx.  looks like someone is gonna be drilling that twp. soon. probably chesacheat.  watch your back!   Pipeline going in too.

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on September 11, 2014 at 2:27pm

Jeff,

     Know who you are leasing to. If they don't drill, don't lease to them, since they are middle men that will resale your lease and make the money you would have gotten if you leased directly to the driller.

Take a look at ODNR drilling maps and spreadsheets to find out who is drilling in your area, then lease to them.

If you need help finding the maps or spreadsheets, let me know.

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on September 11, 2014 at 2:35pm

Jeff,

    I took a quick look at the ODNR Drilling map and it shows Chesapeake headed towards Amsterdam out of the South West.

My condolences.

Permalink Reply by Jeffrey L. Rubis on September 11, 2014 at 4:56pm

I'm sorry I've viewed several maps of my farm off of 275 and they have bought leases not 1/2 mile from my farm...what are you seeing that I am not???

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on September 12, 2014 at 12:43pm

Jeff,

   I said "my condolences" that you don't have a good drilling company in your area.

You'll understand my comment when you get your first royalty check.

Permalink Reply by Jeffrey L. Rubis on September 11, 2014 at 4:38pm

Thank you I will...

Permalink Reply by Jeffrey L. Rubis on September 11, 2014 at 5:03pm

I plan on getting a hold of my friend Rich De Latore and see what he has to say...thanks for the info....

Permalink Reply by bo boboski on September 12, 2014 at 2:43am

Looks to me like your acreage off 275. may be included in the KIRK well,which is permitted to the south east of you, or maybe the EVANS well, which is to the n.w. of you. either well could reach you from those pads. Looks like Chesapeake is getting their wells in that area mapped out & leased so they can soon drill. They may have a mineral rights buying company under a different name buying up those minerals for them, instead of just leasing them, thus having to pay bonuses and royalties. tricky!

Permalink Reply by Jeffrey L. Rubis on September 12, 2014 at 1:47pm

THANK YOU !! for all the advice...I have my ears open to all possibilities at this point...I'm not jumping into anything unless I know all the facts...(I'm not desperate).....but since I live in Cincinnati, I do rely on others first hand accounts up there.....I thought when you said condolences you were meaning that my farm wasn't in a target area....I've heard mixed reviews on Chesapeake.....and have added this forum to my investigating tools.....anyone who wants to weigh in on their experiences I'm listening.....my wife's cousin was treated well by Chesapeake but was in a group and had leverage...got another phone call from a lawyer in Canton today who wants to represent me....have to do a check on him and add that

to my folder of facts......Thanks again.....

Permalink Reply by bo boboski on September 12, 2014 at 11:15pm

Please keep others from, or interested in that area informed because Chesapeakes landman has been offering only $3500 per acre and 15% as a 1st offer, hoping some will be uninformed enough to sign that lease. Others reported getting $5700. and 17%. I think 20% should be more like it!Your attorney that reps. you should know what the going rate for that area should be. others in your boat would need to know. others may want to form a landgroup if a lot of people around you are unleased. Bad thing is, it looks like CHKP. is drilling all around you, so no other co. may be interested. That reduces the leverage in negotiations.

Permalink Reply by bo boboski on September 13, 2014 at 7:39am

Also, Jeff, I kinda suspect something bigger may be coming to the Amsterdam area. The railroad tracks are getting updated,A pipeline is coming thru. CHKP. is leasing and royalty/mineral buyers are snooping around. There may be a processing plant,or compressor station in the works. Landowners will be the last to know, usually AFTER they sold or leased their Oil& Gas. I heard the Allensworths out towards Kilgore got $5700 signing bonus and 17% royalties. that's hearsay,but if true, should be the going rate?

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