Yes, I was already there. I guess I was hoping someone might be familiar with that area or might be able to find out what is going on in that area. There is a vertical well there now and we’re hoping EQT will start drilling horizontally sometime soon!
Wilson is correct in saying that Drilling has been reduced, however that doesn’t mean that things have stopped entirely, I recently received a check for adding on a small interest on a partial that I had signed a lease on in 2013, and Monday in the weekly report that interest was permitted. It’s the Hugle well located in Central and my piece of the pie is Map 6, partial 36, so it might be a few years before well is drilled and fracked, but I am a patient man these day’s and any money received will not be for today’s pricing but hopefully more in the 4-5 $ range, besides this I am still getting calls from peddlers wanting to buy mineral rights from me at today’s pricing, I tell them to go take a hike.
Magnum Hunter filed for Chapter 11 bankruptcy on December 15, 2015 in Wilmington, Delaware.
I am only able to see comments etc from 2015. Is anyone else having this problem?
Ok I just looked at my lease and the area is 13.42250 acres
It does have the Right of First Refusal and the royalty is (1/8) but states it shall be amended to Fifteen Percent (15%)
I don’t have the name of the company who wrote the other lease, I am not home right now but I will be sure to look and get back on here and let you know. Like I said my brother and I both got $22,000 to sign and this “other” company is offering almost 200,000 to sign. So it makes me wonder if they will do something with it. I have another lease with Noble and Consol and one pad they did drill and we are getting checks from them. but the other one has 8 wells on it and all are drilled, but got a phone call from noble and they are NOT going to Frac until the end of 2017. so it is on hold. Just unsure what to do... It just seems to me ( now I know it was almost 5 years ago) when things were much better but Antero spent that kind of bonus money on us, and now this company offering the do they know something we dont??
Yes Jacqueline, I know what you mean because on the Nobel well we made 140,000 in six months and so in a case like that 200,000 does not sound like alot IF they drill, I know I could get more in the long run, PROVIDING they drill .
Katrina,
That seems to be a huge difference from the Antero bonus to what the new company is offering. Do you know the size of parcel and percentage of your ownership? Who is the new company making the offer?
WJ
Katrina, I suspect the offer from the other company is an option to buy your mineral rights, not lease the land where your minerals lie. They are probably not a drilling/exploration company. I’ve had many offers in the past, they aren’t unusual. But if you exercise that option, that means they now own the mineral rights and they will get revenue from whatever is produced now and forever more. $200,000.00 would be your lifetime revenue. Don’t get me wrong, there are cases where this would make sense, but if this is something you want to pass on, or if you can wait until things improve, you may want to look twice at it.
Deb, I haven’t received any notifications from 2016 on this thread. Are you looking for a comment that may be in the individual questions posted at the top of the page?
We signed a five year lease with Antero 4 1/2 years ago. At that time things were good and I was given $22,000 sign on bonus, had the lease in one hand and check in the other. I have done leases with other companies and never saw this before… but anyway… They have not drilled BUT… are dirlling all around it. It is near the Tyler Co. line but in Doddridge County. Still wondering if it will ever happen now, since everything has slowed down. Two weeks ago I got a lease from another company offering me, ( I forget the amount per. acre) but anyway it came up to just a little over $200,000. My brother and I both got one of these, I am wondering what I should do, since everything has slowed down. I mean will they ever get to this well and drill?? Or should I take the $$$ and Run!! Or if they are offering me this kind of money NOW, what do they think is to be? I also wonder what they would do if I would make a counter offer for a little more money if they would take it. Makes you wonder if you should sell or not. WHAT WOULD YOU DO??? Thanks
Katrina,
I had a similar situation. You should check your existing lease. My existing lease with Antero had a “right of first refusal” clause which required me to provide Antero with a bona fide offer in writing before I could lease with another company. This would give them the right to match/beat any other offer. I signed a new lease a little while ago, and made sure the “right of first refusal” was deleted from that lease. Without the right of first refusal, you have leverage to shop around…I know how the ladies love to shop around…hehe. Jerry Yaremko
Katrina,
Something sounds very ‘fishy’ and I have a few concerns on your behalf. I just ran the ‘quick numbers’ and using the numbers I am coming up with is approximately 14,900.00 / acre, which is unheard of.
I have sent a “Friend Request” to you via email on this site, at which point I will share my direct email & phone number, if you wish to discuss things in a more specific manner.
WJ
Holy moly! Good catch Wilson…my last option to buy offer was for $3700.00/acre
I must have the acreage wrong, it was not that much. I will look at the lease that they have sent me and give you the correct acrage. I will do this tomorrow because I will not be able to get to this lease (the new offer) until tomorrow.
Yes I must have the acres wrong, because my brother works for oil and gas and is up to date on all thats going on, he works for WISE, and is over the east cost, he gets all the rig reports and ect… and I know the acres are wrong that I gave you, anyway I will see what it is and let you know once I look at the Buy out or whatever it is. and I can give you their name and the correct acres. I too get offers in the mail every other week to buy my rights but this was the first time it was typed up with the offer and ready to sign… and it was like 200,000. I will be in touch with the rest of the information, this weekend. THANKS
The mineral flippers are out in full force trying to buy up mineral property. They figure prices are down, folks are discouraged and some already spent money they thought they were getting soon. There are lot’s of scenarios and lot’s of flippers. You notice they are not building any coal fired power plants and shutting many coal fired powered plants. What do you think they are building?
Katrina,
I would be happy to assist in any fashion that I can and you are welcome to contact me directly or not, there are many other sage voices on this site.
WJ
NO Bob… the lease was in MY name only and the other lease was in my brothers name only… So It was just an offer to us along, he 200,000 and myself 200,000. I keep forgetting to take a picture of the lease from the company, but will TRY my best to remember to do so this weekend. And can post it on here so you can see, might make better since. But then again Antero does have FIRST RIGHT of REFUSAL, somone told me they have first chance to offer the same. THANKS!
Notice: In today’s Weekly Report where is say’s Modifications, It’s Doddridge County NOT TYLER.
please notice any offer for mineral rights with say 200,000 there may be 200 more people with rights to that property. which means you wouls receive around $ 1,000 total forever. you may receive a check at intervals for royalties. please check out antero on leasing or others offering large payouts. for all property acerage they claim you own.