All things pertaining to the Marcellus & Utica Shale
Beaver County PA Land Groups
Replies to This Discussion
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Permalink Reply by locke on -
Beaver County-Hanover Township activity seems to be increasing. Any recent offers or sign up's ??
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Permalink Reply by Vi Omlor on
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Hi! My husband and I have been following the Beaver Co discussions and would like everyone to know that a number of landowners in Beaver & Lawrence Co have formed a group and have engaged the services of a law office. We have attended 2 meetings and the group is growing. There is an agreement which can be signed in which the lawyers' fees begin only after the first $l,600 per acre is reached in their negotiations with various companies interested in the Marcellus gas. The next meeting will occur on August 25 at 5 p.m. at the Croatian Club in Bessemer. There is no obligation to sign and there is much information to be learned from fellow landowners and the lawyers. If you wish to contact the law office before the meeting the link to it is:
http://www.washingtonpalawyer.com/
We are pleased with the progress the lawyers have made. It takes the landmen off our backs and there is more strength in negotiating a fair price and good environmental terms.
Bob & Vi Omlor Beaver Co
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Permalink Reply by Jon Laughner on
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I heard today of offers by Chesapeakes reps of $600/acre, 12.5% in the Hookstown area. And, back to the South Beaver Twp. area, a small acreage landowner was offered $1000/ at 12.5%. His neighbor with a larger acreage was offered $1500/, 15%.
What we really need is a competitor. Until then, they have very little incentive to negotiate.
There is also the making of a landowner group in the Darlington area.
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Permalink Reply by Shaler on
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There is also one forming that includes washington county and beaver county properties.
Range is active in Beaver County, but all I am hearing is $500/14%. Not to exciting considering this from The Pittsburgh Business Times:
"During Range Resources’ earnings call today, executives honored the industry tradition of gushing over the economics of the Marcellus
Shale. Here’s why:
The company’s rates of return on wells in southwestern Pennsylvania are as follows:
$2.50 per mcf (million cubic feet) = 35 percent ROR
$4.00 per mcf = 60 percent ROR
$5.00 per mcf = 79 percent ROR
$6.00 per mcf = nearly 100 percent ROR"
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Permalink Reply by Sam Douglass on -
And companies are telling their investors that $1 or less per mcf covers all the company's costs - including land costs. And gas sells for $3, $4 or more per mcf --- go figure !
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Permalink Reply by Sam Douglass on
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Just hope that too many neighbors do not cave in to these ridiculously low amounts. If they get enough acres, they will be able to force pooling when the governor and the legislature get done fooling around.
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Permalink Reply by Jim on
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Last week I was offered $600 an acre +12.5% from chesapeake for 3.75 acres in Raccoon
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Permalink Reply by locke on
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Hanover Township, Beaver County 38 acres and I was offered 650 per acre and the common 12.5 from Chesapeake. I said thanks but not at this time.
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Permalink Reply by Jon Laughner on
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As you probably are aware, Chesapeake, thru their lease agents Mason Dixon, have been actively knocking on doors signing leases since early spring. "Standard" offer seems to be about $600/acre in western Beaver and $1500/ with 15% royalty in northern Beaver. Rumors abound with landowners signing leases up to $2500, but not confirmed. There have been the makings of several landowner groups trying to form.
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Permalink Reply by Jon Laughner on
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Sorry, I'm not familiar with any in Hanover. Penn State Extension has a lease meeting Thursday evening, Sept. 2, 2010 at the South Beaver Township Fire Hall beginning at 6:00 PM. Might be a good place to network and find out if there is an interest in forming one?
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