Lawrence County, KY oil & gas discussion group. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
BEFORE YOU SIGN THAT LEASE
Know what a good lease looks like before you sign that one mailed to you!
Below is a link to the ALOV website. It is one of the better lease contracts for landowners and oil and gas rights. There are over 200,000 acres leased using this lease in Ohio, by the Associated Landowners of the Ohio Valley. The Lease is at the bottom of the page. S.U.R.E. LEASE 2012. Read this lease and see how it compares to the one you have. You just might be stunned. See what a lease that protects you looks like.
Be aware of what a good lease looks like!!!
For a detailed description of the 16 oil and gas plays in the Rome Trough, do a search for the below document. See page 11, Paragraph 3.4 Appalachian Basin Province in Eastern Kentucky for a brief description of the oil and gas plays.
KENTUCKY REASONABLY FORESEEABLE
FOR FLUID MINERALS
U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT
JACKSON FIELD OFFICE
411 Briarwood Drive, Suite 404
Jackson, MS 39206
10 Things To Do And Not To Do
Kentucky Energy and Enviro. Dept. for Natural Resources
Active operator listing,Permit Lists,Production Reports,Spud Repots, Transfer Reports are under resources tab. All are xl spreadsheets.
Kentucky Geological Survey University of Kentucky
Database of research data that is searchable. Data, maps, permits, production and more
Kentucky revised statutes covering oil and gas just some of the rules.
WHO IS LEASING NOW BESIDES GULFLAND?? I live in the middle of gas and oil wells, there are gas wells east oil wells west not much north yet south there are both oil and gas. I cannot understand why the bonuses are so puny. and why people would lease their minerals for pennies when a lot of the leases are setting idle with no royalties.
Exterra and Terranova are actively leasing in Lawrence and Johnson county. Abarta may also be active but I do not know if they are leasing directly or using a landman. Many people sign these small lease amounts without doing any research. It is like giving away the $500. and $1000. bills while keeping the pennies. Look at Tyler county WVA on here. Upper part of the state. They are at $4000.00 bonus. This amount will work its way down WVA into EKY in the coming years. Patience will pay off.
Does the rome trough run through the Louisa quad area? Where can I find a map that shows the oil reserves, pools etc. In my area and Lawrence County KY? Thanks for answering my last question
Lawrence county is in the Rome Trough. Look at the first discussion above." Could it be worth..". The first link in the discussion will show a map of the trough as it sweeps into EKY from WV. The counties that are between the Kentucky river fault system and the Rockcastle river fault system on the map are in the trough. Total reservers are not known, but believed to be "extreme" amounts by Abarta energy. Especially in the Rogersville Shale formation in the trough. They have 60,000 acres under lease in EKY. The Rogersville shale is 2 miles deep. It is only 1 of the 16 different formations in the trough. Ashland drilled a very deep exploratory well years ago and found what they believed to be a "vast reserve." What little deep core samples there are is why a lot more is not known about the various pools. The USGS survey lists all 16 formations form the deep exploratory wells that have been drilled. See the comment below, "Kentucky reasonable..." and do a google search on that wording. It will pull up the report that is a pdf. Most everything being drilled now and the in the recent years is in the Berea Sandstone (shallow) formation with horizontal wells and frac. This is peanuts compared to what is deep. As far as to your comment "I cannot understand why the bonus are so puny." People sign those cheap leases having no clue what is going on and thinking to themselves, hey a few extra bucks. As more people say no thanks and time goes by the $ bonus amounts will go up. Also the first big play in the Rogersville shale that comes in, probably by Abarta, will drive those amounts up very quickly as other big players come in.
I had a visit from a land agent from Terra Resources looking to lease my property and minerals for Chesapeake Appalachia. The land agent did not what depths Chesapeake wanted, I assume they want all depths. They were offering up to $200.00 per acre bonus. I wonder if Chesapeake is back because of the Rome Trough? Yet that should not be a surprise to them. I hope this info helps anyone, and if anybody has any news regarding Chesapeake and how much acreage their after please comment.
The court house is full of land men looking to lease land in Lawrence County KY. From what I understand it is mostly companies trying to tie up all the land they can in the Rome Trough et al. It is sad when these people come here pay landowners pennies on the dollar, so they can hold on to it until the price goes up and then sell for big profits, to the oil and gas companies. It is also sad that none of our public officials are warning landowners about these fly by leasers. no one should lease there lands for more than 2 years and $200.00 per acre at signing. Or do not lease at all.
John, in your previous comment you mentioned Terra Resources. Was it Terra Nova exploration out of Morehead?
to answer the question regarding Terra Resources on Saturday. The company is Terra Resources, LLC out of OK. They claimed they were hired by Chesapeake to acquire lands in Lawrence county KY.
Terra Resources LLC is a KY LLC formed 8/8/2014. Formed by Michael J Potter and Kyle L Potter as registered agent.
Terra Resources LLC 1029 Marco Ln. Lexington KY. 40509
Terra Resources Inc. was a KY registered foreign corporation located in Tulsa Ok but is not now registered to do business in the state. Had previously been registered twice to do business in the state since the 80's. Terra Resources Inc. moved from Tulsa to Dallas in the 90's.
Maybe same group set up differently.
We have been approached by an investment group interested in purchasing our mineral rights in Lawrence County. Any comments on what mineral rights might be worth these days?
i would like to see a rogersville shale group started to follow whats going on in lawrence county kentucky anyone want to start 1 i will join
I hope everybody has had a great winter. I have recently inherited 1/4 ownership in 64 acres of land and mineral rights. It is currently leased but nothing has been done. My question is; and out of curiosity, what type of royalties per acre does the lawrence county area do? My siblings and I all live in Columbus and visit the land on weekends. We usually just chuckle and make jokes to each other “when I get my oil/gas money.” But like I said, I’m just curious how well the area does. I hope you all have a great spring!
I recently was offered $60 per acre by Nytis. Did I receive a low offer or has the value of the leases fallen?
Has anyone had a mineral appraisal in Lawrence county lately, especially in the Berea sandstone area? Pumping or not.
In reply to Larry. $60 per acre is awfully cheap.