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TOPIC: Madison County Residents-Beware of Low Ball Leases

Madison County Residents-Beware of Low Ball Leases 01 Apr 2010 11:24 #36

The following article is from the Madison Courier:

www.madisoncountycourier.com/cazenovia-n...further-north-12507/

Michael Brown local farmer in area just signed an $18,000 lease over 5 years on his 515 acres. Sad when our farmers feel they need to do anything to survive and get taken advantage of at the tune of $35 per acre.
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The following user(s) said Thank You: nkolet

Re:Madison County Residents-Beware of Low Ball Leases 01 Apr 2010 11:39 #38

That is why we need this board. Great information to know, sad thing to hear.
"Pass Gas Now!"
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Re:Madison County Residents-Beware of Low Ball Leases 01 Apr 2010 17:31 #41

hopefully that $$ will help him stay afloat and not lose the farm. Yeah it stinks but alot of farmers are hurting realy bad atm.
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Re:Madison County Residents-Beware of Low Ball Leases 01 Apr 2010 20:09 #42

I agree with Bonafide, If it helps him stay afloat then it is a godsend for him. Hopefully he may see some royalties later.
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Re:Madison County Residents-Beware of Low Ball Lea 01 Apr 2010 20:21 #43

HELLLLLLOOOO!

why should we need to accept a crap offer to to stay afloat?
??
?
??????????????
leases are forever


bullcrap
our state is screwing us

NY Natural Gas NOW!
Clearly the Best Solution!
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Re:Madison County Residents-Beware of Low Ball Lea 01 Apr 2010 22:16 #44

Virt I think you mean Easements are forever. However leases could go on for a long time if not worded correctly.
What was the royalty? On the land in madison? Remember 12.5 is really 8.5 unless you state all cost taken out. Is this a big deal yes it is!
Every percentage depending on the amount of land in a spacing unit could me huge dollars.
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Re:Madison County Residents-Beware of Low Ball Lea 01 Apr 2010 22:45 #47

I actually DID mean leases Bryant
only because there is the potential
in today's climate
to be held by production rather than pay a fair rate

I know when it comes down to it there are tough choices for those in dire straits
but
it is still
bullcrap!
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Re:Madison County Residents-Beware of Low Ball Lea 01 Apr 2010 23:07 #49

Your right it is crap and some pri** is sitting home sipping wine from the toxic vinyard that daddy left him cutting a check to fight a cause that has not solid ground. You know my feeling on this
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Re:Madison County Residents-Beware of Low Ball Lea 01 Apr 2010 23:10 #50

hey check out video on my stuff page.
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Re:Madison County Residents-Beware of Low Ball Lea 01 Apr 2010 23:11 #51

Do you know what the royalty was on the Madison land?
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Re:Madison County Residents-Beware of Low Ball Lea 02 Apr 2010 09:40 #54

Bryant I could not clarify the royalty amount as I wrote to the author of the article for more info and told him to get the word out in his area thru the paper and gave him several links to better inform those people.
I understand some people are truly desparate to stay solvent as they are not getting a fair deal on their milk and other products. Finally to answer your question, in paying this fellow $35 per acre I can't believe its anything other than a standard gas company boiler plate lease at 12.5% Royalty with deducts.
Another lease came to light yesterday as I heard Don Cook, a farmer and maple sugar producer in Sherburne Four signed his 300+ Acres with Norse at $250 per acre and 12.5% royalty payment.
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Re:Madison County Residents-Beware of Low Ball Lea 02 Apr 2010 14:53 #55

Thats fact.What happens once the well is drilled? 70 of Cook's acre are in a proposed spacing unit does that mean 230 are held by production? Depends on the lease and level of competence the attorney had if an attorney was used. Another thing any royalty should have all cost taken out so you have a true % royalty other wise expenses could run 4.5% so you actually end up with 8% royalty thats what all the fuss was about recently in PA. We have been telling folks this for 2 years now. This information will instantly give you 4.5% more. Most coalitions are in search of the perfect lease. But how about the folks that are put in spacing units by no choice of their own. How about folks that are faced with easements,Coalition members and folks that have leases need this this information. That is why the jlcny is being formed for all lands.The friendsville group had a great web site a deal was delivered and poof gone no more website.
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