Earl, What does the dormant minerals act do for a landowner? What's the gist of it? Thanks!
It seems if nothing is done with the minerals on your land for a period of twenty years or more the surface owner can do a mineral title search and notify the last know mineral owner and if that person fails to reactivate the mineral ownership at the registry of deeds you can than claim legal ownership.I would suggest you search the general laws of Ohio or Hire an attorney to do so as this could bea very valuable find good luck
We have large tract of land in Licking County and have been approached by a producer wanting to buy a lease for Utica Shale. We are sorting our way through figuring out what is an expected lease bonus amount and best terms on the lease. Anyone have any input on areas close to us?
Glad to join the group from Ashtabula County, Ohio. We just read about the BP Leasing of 85,000 acres in Trumball County located just below our county. Good news at $3900 per acre according to the printed reports.
If you own property, you should know what you own. Many title agencies, especially those that issue title insurance, only search for 40 or 60 years. In Ohio, "all mineral" reservations date back as early as the 1830s! That includes your oil and gas rights.
How do you determine if you own the oil and gas under your property?
We will provide you with a fast and and accurate search of all recorded documents pertaining to your property. From that, you can make the determination yourself (or bring it to your attorney), or we can refer you to one of several local attorneys to help you with this determination.
If your attorney is already working on this for you, tell them to have us do your search! This will save you and your lawyer valuable time and money.
Do you have royalties owed to you? Has your lease been turned down for "title defects"? We can get you the information you need.
We are a local, veteran owned and insured business, with extensive oil, gas, and mineral experience. Get the information the oil companies won't give you!
HG Resources LLC
580-284-2183
Note: WE ARE NOT ATTORNEYS, AND ARE NOT ATTEMPTING TO PRACTICE LAW. We are not paid for any attorney referrals made. We provide you with the information, which you can use as you choose. Always consider the services of a licensed, insured attorney in all matters. The Ohio State Bar offers free referrals and information at their website: http://www.ohiobar.org. Thank you!
Hi, I am a Certified Minerals Appraiser (AIMA) and I work up and down the Utica trend. As an appraiser, who tries to link the current Lease Bonus with the Fair Market Value of the underlying Mineral Rights, I wonder if YOU have noticed a lack of action in the Utica leasing activities? It is now so quiet that I have started to discount the few reported Lease Bonus amounts by a percentage (15-25%) for Lack of Marketability. Any Comments? Regards, John Gustavson CMA # 1992-1
2 Likes
Landowners are going to love this in the Utica.
We hook into the wellhead, strip out the NGLs and pay on a percentage net backs. We take the methane, make LNG in the field and resell to converted drilling rigs, frac units and other service companies to run on natural gas. This method allows the Producer to potentially NOT Flare the gas, continue to drill a field where there is delayed or no midstream pipeline access, flow the Oil and monetize the operations.. This also creates opportunity for the Drilling Rig owners/operators and associated service companies that can or will convert to CNG and/or LNG engines to substantially reduce their operating expenses. Our skid mounted LNG machines are going to be in limited production for 2013 and 2014. We can fund the entire operation using our capital, so you can save money from gallon one. We could sell LNG in the field for $1.00 per gallon depending on upstream gas analysis, locations and other factors. We expect to save E&P, Oilfield service and transportation companies millions each month in fuel cost and other operational efficiencies.
http://prezi.com/cupcvewv4hrl/our-services/?kw=view-cupcvewv4hrl&rc=ref-28915997
RigZone Article:
http://www.rigzone.com/news/oil_gas/a/126499/AmericaCNG_to_Roll_Out_Solution_to_Associated_Gas_Production/?pgNum=0
We need all you utica shale mineral owners to start demanding 25% royalty.
Most anywhere else the O/G companies give up 25% easily but they are still getting utica owners for cheap. Research Texas and Louisiana offers and royalties. You sometime have to play hardball and hold out on them. Oh and don't lease or do business with chesepeake unless you can afford to sue them.
We have been presented with an offer to lease our mineral rights in Harrison County OH. We were presented with a Protection Lease and a copy out of the 1910 recorders book showing what might be a problem with the title.
I have found a lawyer who says he can get the title issue cleared up quickly if there even is one. He knows the counsel at Chesapeake and he knows the Landman. He has proposed to negotiate our lease for use for a percentage of the upfront money. He is very confident that he can almost double the up front money offer and significantly increase the royalty offer.
Any comment would be appreciated as I am a nooby to this and have been studying for the last week.
Any problem with title is for the O&G company's landman to clear up, not you. If they want your signature on a lease, they will do the work.
If you do not want to learn about the subject, pay the lawyer to do the negotiating. Maybe a percentage of any increase they obtain in the bonus offer, not a percentage of the whole thing. I would never give anyone a part of my royalty, in case they suggest that. I would rather pay a lawyer an hourly rate, but whatever floats your boat.
The state of Ohio has very good maps and production data available online. You should be able to figure out what wells are close and how much they are producing.
The terms of the lease are quite important as well. Do not accept a standard lease. If you search "Chesapeake royalty problem", you'll find probably ten times the hits compared to Gulfport or Rice or any other competitor. Good luck
Protective lease is Disneyland for the operator, it gives them an excuse to not pay you until title is cleared up. I wouldn't believe anyone who says they can clear your title who hasn't even looked at it. People might need to be found and there could even be a lawsuit involved.
Why would the Landman contact us if we were not the rightful owners? There is a well with it's laterals that end just north of our parcel. We are not the surface owners. The lawyer gave us a second option for payment of his negotiating the lease. 20% of what he can get us over the initial offer.
Does anyone know when drilling in Meigs county will start? Our farm in in the northern part on the county near Athens county line. I haven't heard anything in years.
We own the mineral rights of approximately 60 acres in Liberty District, Marshall County, WV. We have been told that we will be unable to lease these rights due to the Victory Storage Field. Does anyone have any experience regarding this issue? We would prefer to lease these rights and may consider selling. Thanks in advance for any information.