Replies to This Discussion

Permalink Reply by deer spotter on April 15, 2014 at 10:41am

US Shale is not a drilling co. Gibson and crew had a company in 2010 Tri- County Landowners that signed several hundred landowners in the Clarion area to a market agreement, not a lease to a drilling co. Nobody got paid. Rex does drill shale wells and operates in the Buttler co. area. Is this Franklin PA. Venango co. and is REX looking that far north?

Permalink Reply by Al Shields on April 15, 2014 at 10:58am

Franklin TWP  in Butler Co ..   just north of  Butler ...    There seems to be  a lot of interest but only one company drilling now ...   REX and XTO are looking to lease... maybe Shell and COG    

   Thanks Deer Spotter   ... this Gibson group looks like trouble to me...   

Permalink Reply by Roger Leight on May 28, 2014 at 9:53am

Depending on where you are in Franklin Twp. as to which company you should lease with. Both Rex & XTO have plans for drilling in the township in the near future. I would caution you to not sign with the company just because of a slightly better signing bonus or royalty especially if the majority of your neighbors are signed with the other company. I have heard an attorney tell their client to sign with one company as they were offering a slightly higher bonus & a higher royalty & the companies always do lease swaps if you are in the drilling area. I asked if the attorney would pay them the difference if the other company did not flip the lease like he said they always do. That doesn't always happen & you could be left out in the cold as I have seen this happen. Find out who your neighbors have signed with & get their landman's name & number & contact him or her. Both companies offers & terms will be close but the money in the long term is getting in the drilling unit & collecting the royalties. One last word of advice, only lease your land so be careful not to sell your oil & gas rights as they will be gone forever & someone else will get the royalty.

Permalink Reply by Al Shields on May 28, 2014 at 10:01am

Roger,  we have a lawyer handling this , but the trick is not to pay for anything such as transportation and expenses  , they both seem to be holding at the state amounts...  This has been going on and on...   and now getting old news...      Al  Shields