Hi! We are located in Franklin Township, Monroe County, Ohio. We were approached by a landman who represents Gulfport Energy. Our lease would be just shy of 200 acres. The terms they offered are $4000 per acre and 18% royalties. We had a previous Antero lease (2012-2022) for $5500 per acre and 20% royalties, but they never drilled.
Has anyone heard about any movement being made by Gulfport in Monroe County? This offer is much lower than our previous offer, and we are concerned about their Midstream partnerships and constraints.
We also reached out to mineral attorneys who are licensed to practice in Ohio, but haven’t heard back from them.
@JA_OWNER - Antero is no longer active there. Antero’s main focus is West Virginia. I would suggest calling the Petroleum Landman with Gulfport and working with him on getting you a better lease.
No one else is going to be knocking on your door. Don’t be silly. Take advantage of every opportunity now. Just because you lease doesn’t mean you’ll be drilled. And they could drill in your area and only use a very small portion of your land. If you delay the options, they will be looking elsewhere. And a lawyer will just steal from you, as well as advisors. Be sure to sign a NON-DEDUCTIVE LEASE and look for language about the amount of your property they need to use. Ask for a minimum of 80% guaranteed.
You do realize that if Gulfport is the operator and drills the well, it won’t matter whom you sign the lease with as you’ll still have to deal with their midstream partnerships, which you have no control over and whatever you mean about your concerns with said midstream partnerships.
The reason I asked about Gulfport’s midstream partnerships is because Antero didn’t drill during our previous lease partly because of challenges with their midstream partnerships. After significant research, I can’t find any information as to who Gulfport partners with in my area. Ultimately no, it doesn’t matter who they partner with if they end up drilling. However, at the time of my original post, we were talking with Ascent, Expand, and Gulfport, so we wanted to know who would be the best overall company to lease through not just for the lease, but in hopes that their ability to get our minerals to market would be achieved.