I am in Liberty township and a few months ago got an offer to buy my royalties for 1500 to 1800 per acre, but they would do a more in-depth look if I was serious which "mite change the numbers" slightly....even tho I am not drilled or receiving any royalties ..talked to a landsman rite b4 I contacted them and he advised caution as there will be "significant" activity in my area in the "near future"....how about it, anybody else get an offer or hear anything or see any activity here in Tioga Co. ?
I am curious. Thanks for your post. Was the offer to lease them or purchase them?
Josie over in Delmar where it is dead!
Shell is drilling in Chatham township now, a lot of pipeline work is about to start.I heard Shell was working in Texas for a while now there back in Tioga,I think we will all see activity pick up.
Thanks, guys ! hope to get more replies and I will b posting anything I hear...Jim, thanks ..not gonna sell anything rite now (yes the offer was to buy the rights which are leased til '16)....
My guess from talking to people who are potential sellers and buyers is that OGMs in Tioga County are worth somewhere in the range of $1,000 to 2,000/acre right now. Obviously some people believe in figures that are higher or lower, and they won't be making any deals. And there are special situations where there's already a horizontal well or two and significant royalty income coming, so I'm just talking about the generic situations. Across the line to the west in Potter County I've seen sales at $500/acre and lower, and to the east in Bradford County prices are higher in many areas, but in the middle of Tioga County I suspect my estimate is pretty accurate.
The problem, of course, is that production in Tioga County hasn't been very good. And while gas prices have improved a bit over the last year, costs and environmental restrictions have gone up too. It's a gamble buying or selling under current conditions - I'm not completely sure which position will prove to have been the best in the long run.
thanks for the input Jack !! :)
Hi Jack & Gringo and everyone interested,
It's been a year since I last asked and am checking back in. Have you guys seen any sales for mineral only, no real property, on rights that are already leased, are in a production unit and the well is not yet producing? (Delmar) Thanks
Does anyone have first or second hand knowledge of any actual sales that took place and if so, in which township?
It's all starting again.. only this time people know what they are looking at. You'll see a Utica Phase.. an upper D phase.. a TBR Phase- all segmented by pipeline construction.. new tech- takeovers.. falling prices- spiking prices-- welcome to the Carousel- up and down.. round and round.