Our current offer from Chevron is 3000 per acre / 15% royalties. According to the landman they have now reduced new offers to 2500 / 15%. Anyone receive an offer from Chevron recently and for how much? A friend received an offer from Shell of 3250 / 18%. Why is Shell going up and Chevron going down?
With the glut of natural gas currently on the market and an extremely weak economy, I wouldn't expect the offers to go up any time soon. In fact, I'd expect the opposite over the next year or two.
....George...yes, you have mentioned two reasons (and there are probably alot more) why the offers may slow up or go down over the next few years, but I am also hearing that some parts of Butler county are more desirable than others, and that some areas may never see a higher offer, if any.
Randall, what are the desirable areas?
Randall, could you also please list the undesirable areas?
I heard last week that Shell and Chevron were pulling our of northern Butler county and not paying. has anyone else heard this. I live close by there and dont want to waste my time if they are not going to pay, been stalling the Chevron guy who came to visit.
Shell is still pushing very hard in N. Butler County and have two wells under construction, one in Cherry Twp and one in Venango and plans for more. Chevron is also starting to become more aggressive and they are starting construction on a well in Washington Twp with plans to have several rigs working in the N. Butler County area.
So I would say that they are not pulling out at all but increasing.
Who is your Chevron guy? Can you PM me his name and number?
I just received an offer from Shell (I'm in Fairview Township, Butler County). A few days after the offer they told me that they are now pulling out of Fairview township. XTO is also not leasing up this way. Anyone know who is for sure?
did you recieve a lease with a bank draft? then rebuked?
I thought fairview was chevron territory?
If without being overly nosy care to share if it was a swepi land agent and his/her name?
we have family hbp in that area and its held by ch''''on and they do not want to budge
Nothing was signed, it was just an offer. The called today, Eric was his name I believe, to let me know they were ordered to pull out of Fairview Township.
good luck sorry to hear of things eric was the agent ?
there is a couple of erics with swepi
it sounds like you are chevron country- today- tomorrow is another day
with bottom falling out of the dry gas the bigs are covering themselves
if I can help friend me
Eric Boyington I believe was his name. Maybe I'll call Chevron and see what they have to say?