Not too long ago there was a lot of chatter about the large acreage packages being put together. I am guessing these are currently in the marketing phase. Does anyone have any updates on any of these? I opted to pass on several offers and am wondering if I made the right choice. Any factual information would be appreciated.
Just happened this Tuesday.
A group in Northern Beaver County and Southern Lawrence County evidently received the best offer on their land package...i believe it was something like 30,000 acres. I was told by two folks that the best offer was from Chesapeake... for $2350 per acre and 15%, and of course the firm representing them got $150/acre of that. I also was told they only wanted the land in Beaver County. I believe this info is true as i heard it from 2 folks involved in the package.
Doesn't sound like it was worth the effort to me, but what do I know : )
Wow, Sorry. I guess my customers were at the wrong meeting or fed me BS.
Until someone else posts what happened differently, I still have to believe what I was told. Seems weird that you were there, but not posting what the results were as per the OP question, doesn't it?
Please enlighten us!
there was an offer made by chk. don't know how many acres but my neighbor confirmed the $2300. he has a large chunk in beaver county. i believe thses people could have done better on thier own!
Mark, Anyone who signed with O+G some years ago were not idiots. If folks would have never signed with O+G back then, none of this would be happening right now. They were the ones who took the big gamble and sunk tons of money into two test holes to the basement in Beaver County in 2007. They were the ones who marketed their leases, knowledge, and data to Chesapeake. I have one parcel leased to O+G in 2006 for very little money...but it runs out soon. I don't feel bad about it. If CHK doesn't drill soon, then I (all who signed with O+G) will be in the drivers seat cause the utica play will have been proven by then...about the time our leases run out....some of which already have.
Yea, I heard the same things and I am not happy about it...wasn't right. I'm not sure what your definition of 'many' is, but i've only heard of about a handful that this happened to. I hate to see this type of greed creep into a good situation.
We all reap what we sow in some form or another.