I am looking at a lease offer in Guernsey county. Does anyone have recent experience with the going offers in this area? It is also a 5 year + 5year option. I am used to OK and TX and those are long terms in my experience. But I am much less familiar with OH. Anyone have experience they wish to share?
I dont like 5 years. I dont think it’s in the mineral owners favor. All oil & gas leases are negotiable. Good luck!
Five year primary is red flag one. Five year extension is red flag two. Way too long. The National Association of Royalty Owners has an Ohio Chapter. You might want to join and get involved with finding out what is going on in the area.
5/5 is pretty much the standard here in Ohio. What company are you dealing with, and what general area of Guernsey?
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5 year primary term is pretty normal in Guernsey
I live in Guernsey county. I have acreage leased, some for 8 years. 18%( and some higher) royalties, 5 year is the standard here. My farmer friend did lease for 21% royalties. 3,500$ an acre lease is standard now, also. Se Ohio is very hot right now, Im sure you know.
If five is standard, then it is what it is. I would not agree for a five year option though. Get a good attorney to review the lease for more friendly mineral owner clauses.