How much per acre in a monthly royalty check ? Certainly it would depend on a few or maybe many factors ..... but give examples if you have them please.
If someone has the figure for drilling in a section ( say about a square mile or 640 acres ) and how many wells were drilled ( horizontal or verticle ) we could then do the math for the size of our acerage included in the section. Or for others who may own many sections etc.
yes , maybe in Mexico, but in your land unit, which comprises usually 6 wells, per square mile (640 acres)
no horizontal well has been getting less that 2-3MMFD, the vertical well, yes.. not in PA anyway..
so more likely you are looking at a boldfaced liar.. work with a land coalition or group of land owners with lawyers..
multiply 6 wells by 2 mmfd an you get your estimated production... the UTICA is stil very much unexplored, and based on new core samples and a few test rigs, could be far larger in final production than the Marcellus shale..
BTW, most companies would not get out of bed for .75MMFD..., not when they can get 2-3 MMFD somewhere else for sure..
do your own research and do nothing witout a gas lawyer..
I have been told by Atlas they its about 1 well per 40 acres-that seems to be working for them. This is in SW Pennsylvannia Green County. They have been averaging initial production of 5M cubic feet and maintaining 40% of that for months. In the case of 640 acre units that would be about 16 horizontal wells depending on configuration of the property.
If you’re for individuals rights, you’re on the right track. To change this, you will suffer in the long run without protecting the other person rights. These two news articles cover your first step into the question to drill or not. You should reviewed and considered with more research
Yo can easily check the Geoplogy of your area on teh Web..
go to Goolge.com and enter "utica shale maps' and you will get a bunch of links.. takes practice reading and making sense of the maps though. if you look for some of my older posts here, I have attached many geology documents..
but to answwer your question yes.. it covers all of NYS west of the hudson and most of Northen PA all the way up to Montreal..
they are paying for exisitng leases, and still have to pay the landowners whatever percentage was agreed to in the lease
I am company A , I want to buy Company B leases of 20,000 acres . We workout a price of 14,000$ and acre and Company A takes over the leases from Company B. I as Company A must still pay whatever percentage to whoever teh lease holders are? whether its 10% or 15 or 20%
What is interesting is that Company B is trying to buy the leases at 1,000$ or less and basically resell them at a masssive profit at the land owner's expense
some profit is expected but 1,400% ??? for doing what amounts to paperwork?
that is why you must have a knowledgeable Lawyer on your side as well and work with a coalition..
individually , your goose is cooked..
that is why during WWII , shipping was done in Convoys, and not individual ships, safety in numbers ;-)
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 ]