I have recently been contacted by Flatirons Development LLC, Denver, CO about a Marcellus lease. They are offering two different leases: one for $500/acre with 15% royalties and the other choice being $600/acre with 12.5% royalties. I'm not so much interested in the two different leases, but more so on information regarding Flatiron. I can't seem to find much about them online. Has anyone else had this offer in western PA, especially in Clearfield, Jefferson and Elk counties? I'm in the northeast corner of Jefferson, near DuBois, PA.
Here is a little information I have found. There are numerous other operators you should talk to if you're interested in leasing. There is on-going exploration currently in those three counties...
focused on acquiring and growing oil and gas production in North America to supply our country’s energy needs. The company was formed in February of 2007. The founders of Flatirons were involved in the development and growth of Western Gas Resources, Inc. prior to its acquisition by Anadarko Petroleum. Collectively the Managing Directors of Flatirons have in excess of 210 years of experience in oil and gas, both midstream and upstream. Brion Wise, the Chairman of Flatirons Board of Directors was the founder of Western Gas Resources and successfully grew the company to $4 billion in Market Capitalization. Each Flatirons director played a role in the growth and success of Western Gas Resources.
Who else should I be talking to? I believe Flatiron LLC is currently drilling on Brockway watershed property where the gas rights are owned by Seneca. It is directly adjacent to the National pipeline as are some other nearby wells. It is also rumored that Flatiron LLC has acquired some wells in Elk County drilled by Dannic Energy out of Indiana, PA. Flatiron has been firm on the $500/acre, 15%, 3 yrs. lease.
Got a verbal offer from another company for $850/15%/5yrs. Seismic testing around Kyle Lake will probably do a lot to determine what happens in northeastern Jefferson. MIGHT get a lot better. ray
Flatirons Development, LLC is a Delaware limited liability company that was formed in December of 2007. The principle place of business of the company is 303 E. 17th Avenue, Suite 940 Denver, Colorado 80203.
The company was organized to find and develop oil and gas projects, with an emphasis on resource plays such as oil or gas shales, tight gas sands, coal bed methane or conventional formations that are contiguous in nature. The company has used capital to purchase lease positions but because of our strong operational background we prefer to employ capital in drilling and development of wells and systems. We will consider either oil or natural gas projects. Flatirons Development currently has a lease position and gas production in the Fayetteville shale play in the Arkoma Basin of Arkansas. The company has also drilled a vertical well in the New Albany shale in Kentucky and will be drilling a horizontal well to that same formation in the 3rd Quarter of 2009. The company is evaluating several other shale areas in the U.S.
Flatirons Development utilizes the employees of Flatirons Resources which has a very experienced staff with a wide variety of expertise.
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 ]