Upshur County, WV

Comment

Comment by Richard Fanelly on September 8, 2011 at 1:11pm

Have 75 acres along Middle Fork river south of Ellamore. 30 yr old lease w/EQT but still in production. Offered practically nothing for pooling modification. Don't expect to hear from them again until gas prices rise and my immediate area is proved out.

Thanks Ron for starting site.

Comment by Ron Fowler on March 23, 2010 at 3:52pm

I think you are right 400/12.5 offer is an insult. EQT wanted us to agree to a no bonus, 12.5 net royaltly and an unlimited pooling and unititaztion. All with a forever primary term. Blows my mind that they are getting it from others. Our location is southern Upshur. If you are near Helvetia then between there and the Wildlife Center seems to be the hot spot. Rumor is that the Marcellus is 400' thick. True?? My view is that if Chesepeake is footing the bill for a seismic survey, then they think there will be a big pay out. If they can get mineral owners to sign on now at little or no cost, then they will be sitting in the cat bird seat. As has been said; They get the gold, we get the shaft.

Comment by Robert L. Fry on March 23, 2010 at 9:08am

Hi Ron,

Where in Upshur is your farm? My farm is in Randolph. We received an offer of $400 + %12.5. We quickly turned it down and have not heard more since.

Picking off the naive and week is the way of wolves you know. I don't trust any of the energy companies of landsmen. Based on the ate pipleline development activity and pace of Marcellus development, I am not anticipating acceptable offers any time soon. The only thing that might accelerate things would be the pace of foreign investment which seems to be growing exponentially.
Rob

Comment by Ron Fowler on March 23, 2010 at 8:40am

I believe in the value of information sharing. So, I will start the discussion for Upshur Co., and hope others will join in. Our story: EQT has a 60+ year old lease on our farm, and they have approached us to do lease modifications. We didn't like their first proposal and made some counter proposals. Their firt proposal was VERY EQT favorable. We think our counter proposals was more in the win-win for them and us. They have not responded back. That has been 2 months ago. Grapevine says that EQT is being very sucessful in picking off the uninformed and aged. We will see what happens. I think we are just in the very beginnings of gas exploration here in Upshur Co. We have also been approached by a seismic survey company seeking permission for access to our farm. This is financed by Chesapeake Energy.