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Permalink Reply by HilltopHome on January 11, 2021 at 3:25pm

  So, this isn't my statement, but my own Excel sheet (created from first statement information) that is laid out easier for me to understand. I excluded some of their info that wasn't of interest to me, and added some calculations ($ per acre, averages) that were of more interest. We're fortunate to have had a fairly large parcel leased (about 40 ac), bigger than some, smaller than others; especially some farm/land owners that have been in the area for generations. We leased at 20% and no deductions. This is for the first 3 months, 2 well heads, and each well head is owned in part by either Eclipse or Triad (though they're really all the same now, Southwestern Energy). As I mentioned earlier, I averaged the gas prices; Eclipse had a portion of each well head production at one price, and the rest at another price (spot and futures pricing I'm guessing). Triad had only one price per month however, applied to both well heads. I left off the operators gross value of the production as well as their larger severance tax portion, not relevant to me, but kept the overall production amount per well head.

  As you would expect, we were thrilled at the amount received, which hopefully will increase further, at least this winter, if NG prices trend upwards. I understand land owners being nervous about putting out financial info on the web, and I'm keeping my own a bit vague; however I've been coming on these forums occasionally for several years now myself looking for tidbits to let me know how much we MIGHT expect once drilled. I think it only fair that I add to the discussion and share with others that are curious and not yet leased or drilled themselves.

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Permalink Reply by Kyle Nuttall on January 20, 2021 at 6:17am

Man, that's nicely organized.  Much better than what the producers do.  Thanks for letting us all see.

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Permalink Reply by HilltopHome on January 21, 2021 at 2:53am

  You're welcome. To make my actual statement even more confusing, I actually have 2 tracts (I combined their totals on my own Excel for simplicity), one being a fairly small parcel that I wasn't sure if we were going to get the mineral rights on, there was some vagueness in the deed. But evidently after all their searches and inquiries with previous owners, next of kin, whatever, it landed in our court. No complaints there.

  I heard back from Southwestern Energy concerning my question on the two different gas sale prices on the Eclipse portion (thus far, they've been quite responsive and helpful with any questions I've had). She said it wasn't a "futures price & spot price" as I was guessing, but simply sales to two different buyers/markets. I don't know the details of how all that is handled. She also said that the statements beginning in Jan. '21, will be directly through SW, not a pass-through of the Eclipse and Triad entities, so I'm guessing the statement look will change once that is in place.

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Permalink Reply by Kyle Nuttall on January 22, 2021 at 10:30am

That makes sense.  They do sell to different buyers, even though the gas is in the same pipeline.  Eventually it splits up into different pipes.

It's always nice to have a little extra mineral right drop into your lap!

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Permalink Reply by adam sorell on January 11, 2021 at 5:16pm

no it was 1.3 on the lease contract.when is asked them about it they said im welcome to get another survery done and submit it.  i have another lease with them for 8acres  but on the lease its only 7.3acres or something..  i got the first check in December its was for $685 and that was all September too. ill post that one tomorrow.  

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Permalink Reply by G.H. on January 13, 2021 at 8:08am

As Hilltop mentioned, it may be possible that a part of your parcel is not in the unit.  Take a look at the division order they sent you, or at the ODNR website unit plats.  Those should show where the unit boundaries are, so you'll be able to see if your entire parcel is included, as well as the acreage that the o&g company surveyed your parcel at. 

The acreage of most of my parcels has been different from the deed when the o&g company surveys for the unit. Usually it has been in my favor, but a few times it has gone the other way too. 

Sorry if this is info you already know, just thought I'd pitch in what knowledge I could.

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Permalink Reply by Kyle Nuttall on January 20, 2021 at 6:13am

I don't know about Ohio, but in West Virginia the old surveys were always wrong.  Not just usually, but always.  I haven't seen old calls plotted on a computer system give a result where the beginning and end point match up.  Sometimes they were close but usually they were far enough off that you had to wonder how they could get it that wrong. It can dramatically change the number of acres in a tract.

Your only solution will be to have another survey done.  I'm confident that your survey would differ from their survey.  Not because they did anything wrong, but because most of the surveys I've seen have ended up with different results.  Usually modern survey results are pretty similar to each other, but they're still often a little bit different.  GPS based surveying is the only way you'll end up with the same result over and over.

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Permalink Reply by Kyle Nuttall on January 20, 2021 at 6:15am

Thanks for sharing.  This kind of info helps everybody know whether they're being treated fairly by the producers.

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Permalink Reply by adam sorell on February 2, 2021 at 10:41am

here another one . .  here's  february just received.  damn if only they do my 8 acres i can take the old lady to Outback. sheet we got lots of rich folk around here. i got friends with 100acres 200 acres. never mentioned nothing to me. lol i wont feel bad at pigging out at their parties no more.

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