Butler County Recorder of Deeds website has lease info (no real $ per acre or royalty info recorded that I've seen)... do a "simple search" on "Last name" 'R E Gas' and you'll come up with a lot; also can search Phillips Production, BLX, etc. I recently saw East Resources has something signed with JP Morgan, not a lease... mortgage or something... for additional financing through a private investor/investment firm? (Looks like they sold or mortgaged their interest in 3 wells in Slippery Rock and Mercer Co.)
East also just (3 weeks ago, 03/17) assigned a number of leases from Conno, Lancaster, and Muddy Creek Twps (and others?) to R E Gas Development. Some of these were my neighbors in Muddy Creek Twp who signed with East summer of 2008. I didn't sign (offered $500 ac/12.5%/5 yr; $750 for 10 yr).
A friend has 11 ac in Middlesex Twp, Glade Mills; said they were offered $1500/15% (I think) a month or 2 ago.
I talked to someone about 2 months ago who told me a Franklin Twp lease with Phillips was for this rate also.
Another friend in Lancaster Twp just told me today they were offered $3000/ac (50-100 ac), not sure what royalty, not sure of the company (her husband is handling details). This seems to be a BIG jump from the $1500 I've been seeing talked about/offered.
My attorney in Slippery Rock is Ronald Coyer and he has been working with gas/oil leases for over 10 years. He is very knowledgeable in the area of gas/oil land leases. A lease is written to benefit the drilling company and being that we are not familiar with the "lingo", it is written in a way that it actually sounds good until the attorney sees seemingly innocent statements in a different light. After these statements are explained to you, it will become clear why you hired an attorney.
My family owns 150 acers off of Carbon center Road . We would be interested in a group to make a better lease deal. Our 5 year lease ran out with PCC . We would like to know if you have found any others in Summit Twp.
What makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen.[ Read More ]