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NC Iowa | The offer we received was as follows:
They will pay you X amount of dollars for a mineral lease on your property. They wanted all of our acres in order to make the payment substantial enough. It was a 10-year lease. The well would only take up about 3 acres per well and even less when they were done drilling and if the well stayed. If they did end up drilling on our property, we would have been paid X amount for the well. If they found hydrogen and wanted to drill more wells on our property we would have been paid again for each well that was drilled. Also, if hydrogen was found and they eventually started selling it, we would receive 15% of the profit. The company was very willing to negotiate and work with us on any discrepancies we had with the contract or anything we wanted changed. There was obviously a lot more to the contract but that is the short version of it.
It was tempting but no we did not sign the contract. We turned it down mostly because we felt they weren't paying enough per acre and to make it worthwhile, you had to sign up all your acres which in my view was giving a company free run of all your ground.
Neighbor a mile down the road ended up signing up for it and the company drilled a well. The workers said they drilled down to 8,000 feet. They were going to go to 10,000 feet but for some reason the higher ups told them to quit and start taking it all back down. Also heard that they found hydrogen, but it didn't sound like it was enough to be viable. The well has since been all removed except I believe they still have to fill and cap the well. They originally said it was going to be farmed again this year, but it was not cleaned up in time. Still waiting to see if they get it all cleaned up and back to farmland again or not.
Edit to add: I said X amount of dollars because I honestly don't remember what the exact offers were
Edited by jtrees90 6/25/2026 17:05
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Hydrogen
