rex energy is drilling up a storm here in derry twp. outside of new derry, superior area. i only have 5 acres here that i leased to rex for 200 an acre early last summer. they have 5 horizonals allready completed with 2 more scheduled before year end. rex also drilled 3 or 4 shallow wells in the superior area, the drilling blocks in this area are eaglehouse, panizzi, and slavek plans. rex has a joint venture with williams a texas firm that specializes in horizonal wells. they are to commence drilling in pa. the start of the new year.my concerns are not so much as property owner, i am more concerned with the stock price with this company. i am betting that this marcellus shale has a future.
hey frank I saw a site out near your house up on the hill. Whats going on there? Are they still drilling or fracing? They had the whole hill side lit up. Also, what unit is that well in? I didn't see you outside, so I didn't stop.
Seismic testers were at my house Sunday (I still didn't sign, but permitted for testing.) I have three stakes running through the property. I hope those aren't the stakes they put the cables through because they would have to run one right through my barn. They burrowed a whole right through some real thick brush and then out the other side to Ecker farm. I don't know if it was for line of sight or if they need to get a quad through there.
that unit is in the eaglehouse bloc. they work 24-7's, plus all holidays, work crews live mostly out of state. if you come down johnson spring road, and make a right on to mccalough road it will make a loop and come right back into new derry. carol and her husband stopped by the other day, i think they signed, also a friend of mine north of new derry ,whose proprety joins ekers farm signed with williams company he has 3 acres. i got a royalty check today, that nearly doubled last months, they have the other 2 wells tied in and producing gas. 3 horizonals total in this bloc. rex energy had a letter enclosed that stated williams co. from texas will be handling all activites in westmoreland county including the exsisting wells. i have their address and e-mail address if you want to correspond with them. you should have came up the drive way, i am usually home. you may not see a vechile because my wife is probably out doing chores etc.
The Williams landman has been in touch with me. We're negotiating now and making progress. Glad to hear about the royalty check. It'll be a while until I see one. I kinda wish they could give us a better timeframe on when to expect things. They must be getting everyone around eckers property now. So far Williams has been very reasonable to deal with. Maybe I'll stop by next time I am over there snooping.
the going rate here in derry twp. is up around 2k to 3k per acre. 12 1/2 to 20% but, with all the activity in this area and ,some success with hor. drilling in this area they know, they have gas here. has there been any hor. wells in your area with good production? i and a lot of other people in my area signed in the fall of 08 for 200 per acre,but that was before a a tree was cut down or, a 20 foot hole drilled for a horizonal well.but, now 1 year later and 6 horizonals within a 1/2 mile radius producing gas, land oweners are getting 2k plus 12 1/2% t0 20% per acre. there are a lot of big players in this game, largest gas co's in the world are vieng for acreage in this shale zone. i think most of their offers will be about the same till some one drills, and has sucess, then prices will rise rapidly. also gov. rendaell has put tariffs on these companys that wern't there a year ago. i wish you a lot of luck, but be careful you don,t get shut out of the boom ,if you have small acreage. i only have 5 acres in a 350 acre bloc, i am satisfid with what royalaties i have recieved thus far, much higer than we expected. on the other hand there are some smaller land owners who didn;t sign, i believe they got shut out.
I see. I thought the lease rates were going to go up here in Clearfield co. with the winning bid of $5250 for acreage in Moshannon State forest that just took place, however it's not--that's within 10 - 15 miles of my house. We have 71 acres and our neighbors are joining forces to have a larger tract to entice better offers. We'll see what happens.
wow!!!! that sounds good for, you and the neighbors, there was a large well production down in washington county, and the rates only went up to about 3 k per acre.do you know what company got this contract from the state?. if they are giving that kind of dollars, they are certain they will recoup their funds. with 71 acres you probably will have an influx of land agents. ..... with the dollars etc. you and you friends have to reap, i would go together and get an attorney who is versed in gas exploration, land oweners rights, not a divorce lawyer if you know what i mean. some of the larger land owners in my area got attorneys and had clauses and addendums added to their contracts dealing with roads, back fill, reclamation,noise , dust, pollution etc. be vigalant with the percent of royalties, 1/2 % is alot of bucks in this marcellus deal and horizonal wells. no comparison to sallow wells. my royalaty check for one month surpassed the 200 an acre i signed on for......my royalty check averaged about 220.00 per acre this month.i dont have a well or a pipe on my acreage, my propety lies in the 350 acre bloc that has 3 wells all horizonal. so be careful ,good luck and, dont let the gas company and uncle sam walk away with it all.
No, Carol. I'm betting Nick works for Vandalia Energy Partners, a contract land company, since he changed his profile page address to reference the company. However, Williams may be using Vandalia Energy Partners to do their Marcellus leasing. Therefore, what Nick is doing, claiming Williams bought Rex, is a perfect example of how contract landmen create lawsuits for the companies for which they lease.
Williams absolutely did not buy out Rex Energy. Williams is earning a 50% interest in 44,000 acres Rex Energy has leased in Westmoreland, Centre and Clearfield Counties, but as of Rex Energy's June corporate presentation, Williams still has to carry Rex Energy for another $12 million. Therefore, Williams has not yet earned their share of the Rex Energy acreage.
As part of this joint venture, Williams was suppose to take over operatorship of the joint venture areas at the beginning of 2010. From reading conference call scripts, I gather this transition got pushed out till April. Rex Energy drilled two of the three Slavek Trust wells, and Williams drilled the third. Williams is suppose to be completing all three of these wells in June. Williams is now drilling the Uschak-2 pad which consists of five wells and then has three wells planned on the Uschak-1 pad. Rex Energy is expecting Williams will add a rig in the Central PA area during the third quarter.
may, you are absolutly right, i have a small amount of stock in williams and rex, they are two indivual companies on the stock exchange symbols WMB & REXX. i have 5 acres in the pannizi unit the first two royalty checks i recieved were rexx letter head, the last three checks had a williams letter head. the myth that williams bought rexx out is mistaken. these two companies have signed a a joint venture, the complexites of the deal i am not familiar with.
What makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen.[ Read More ]