Shell contacted us in April 2012 with an offer to lease our 10 acres in mercer twp for $3200/acre. We hired an attorney, he fine tuned the lease and when we were ready to sign shell said their leasing was on hold. Early Aug. the attorney (whose name im probably not allowed to metion) said shell had resumed leasing and sent us a lease to sign, never pointing out that it was for $2500/acre! We are currently on hold, but don't want to end up with nothing, but also don't want to be played for a sucker. Has anyone else experienced similar situations with an attorney or shell?
It's not just Shell - this happens with all companies. With the prices of gas and other economic factors the price can easily change. People that hold out waiting for the big buck usually get squat - something to think about.
And they say that the "industry" is the one out for money :-(
I understand that, and that natural gas prices are at all time lows, but i also know that the bonuses in mercer co. and trumbell co in ohio have been going up. Not sure if northeren butler co is considered to be utica area?
Yes, Utica wells are being drilled in Butler County.
google Utica Shale Map
Since land can be re-leased, by waiting you will be losing money. I.E. if you wait a year hoping it goes up, you didn't lease your land for 10 years (5+5 lease), you leased it for 11 Years (6+5) at the same rate. Basically you gave Shell a free year. I invest in real estate (among other things). I have learned to get in and get out and not to be greedy. If you are going to hold out you must be willing to walk away from it all should the deal fall apart. Are you will to walk away from $25,000 because you couldn't get $32,000? Take your money and run.
John, I really dont want you to take this too personally, you have 10 acres???
10 acres....and what exactly did your Atty. try to write into the new lease and how much did he bill you for this amazing work to protect your 10 acres??? Which is too small to do almost anything with. unless its flat, with no trees and has a road built on it allready? What was your Atty's opinion???
I would love to hear it. John, my neighbors with 10 acres, friends near North Butler with 1-18 acres may go into a unit if at all. 10 acres is too small to do anything with. The well site off 79 just before the Slippery Rock Exit, (rig gone now), was 12 acres and perfectly flat.
Ask for an explanation and a refund. Taking a shot a Shell here is misplaced.
any news from that well schnoozie - marcellus ? utica? wet/dry? good/bad?
I dont know anything about it except the rig was huge and easily seen on the right side of the road as you head north, I think it was mm 102. I got interested enough to get off the road and try to find it. The drilling area was pretty large and busy with workers.
not a lot of talk about it. Does anybody know anything about it?
Shell is tight lipped about the wells they have here in Lawrence County. Since none are turned in line yet , we can only wonder. All I have heard them say is they are pleased with the Patterson site. Time will tell.
did you see them flare the well?
Haven't seen any glow yet.
Be still my beating heart...Schnoozie, you are a beautiful individual (you too Buggs) where were you three - six months ago? Now that you've sounded off on the sharks, out for client blood, could you please take that a step further and illustrate how joining a landowner group and holding your land hostage are one in the same...