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Seismic testing in Hookstown... HELP ?
170 Replies

We had a man  come to our farm  today and wanted us to sign papers to let them do Seismic testing on our farm.  The mans name was Mike Allstead from SEITEL, out of Monaca, PA. He offered us $5.00 per…Continue

Started this discussion. Last reply by craig Jan 8.

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Latest Activity

Nancy replied to nick's discussion 'any recent news on the Industry, Ohioville well sites?' in the group Beaver County, PA
"Thank you Larry for your honesty and information. Where are you located ?  God Bless, Nancy"
Apr 2
Nancy replied to Jack Straw's discussion 'Jack's Picks IV'
"Thank you Jack... for all your helpful information !   Hope you had a Wonderful Easter !  Nancy"
Mar 31
Nancy replied to Ron Eiselstein's discussion '"Fang's Agenda"'
"Mark is good but my vote is for Fang !  He has helped me out in the past too ! He has 100 % of my respect."
Mar 19
Nancy replied to Gary's discussion 'Mcmasters well on Hill road ,Hookstown/Georgetown' in the group Beaver County, PA
"McMasters well was started fracking on Feb. 25th."
Mar 6
Nancy replied to Jon Laughner's discussion 'Penn State Extension Pipeline and Seismic Meeting' in the group Beaver County, PA
"Steven, You are very correct,Thank you....but at least if Seitel does the testing, I will at least have some say of how it is done so as not to harm my animals. If Chesapeake comes in.... I would have no say.  Not to say that Chesapeake still…"
Feb 12
Nancy replied to Jon Laughner's discussion 'Penn State Extension Pipeline and Seismic Meeting' in the group Beaver County, PA
"Have to add.... I have been hearing many good things about the company Seitel. They do many seismic testing and people seem to be very happy with them. This is good to hear. A company that stands behind what they tell you.... I will write more about…"
Feb 11
Nancy replied to Jon Laughner's discussion 'Penn State Extension Pipeline and Seismic Meeting' in the group Beaver County, PA
"Yes, Gary. The meeting did take place. Daniel and I went Thursday, 1:30 - 3 :30 pm. at the Hookstown Vol. Fire Dept.  We pre Registered and paid our $10.00 each to a jar. Nothing was said that I didn't already know. I was very…"
Feb 8
Nancy replied to Gary's discussion 'Mcmasters well on Hill road ,Hookstown/Georgetown' in the group Beaver County, PA
"Thank you for this information, Jason !   The Best of Luck to the McMasters.... they have been having a hard time with Uncle Sam, since Mr. McMasters has passed."
Feb 7
Nancy replied to Jack Straw's discussion 'Jack's Picks IV'
"Thank you Jack... for posting this information.  We have a pair of Bald Eagles on our farm. They fish out of our lakes.  Just Beautiful !  I hope MANY read your posts !  You... are My Fountain..for great information !  …"
Feb 4
Jason and Nancy are now friends
Jan 29
Nancy replied to Jason's discussion 'Greene Twp well - Gas Valley Road'
"Jason, Where is Gas Valley Road in Greene Township ?  Is it off off 168 ?  Many Thanks, Nancy"
Jan 29
Nancy left a comment for Todd Smith
"Hi Todd, I have a 76 acre farm on Upper Service Road in Hookstown, PA.  It is not far from the Intersection of Rt. 30 and Rt. 168.  Maybe 3 miles.  I also have a house and 2 1/2 acres in Hanover, Pa. (Clinton) My Husband Daniel and I…"
Jan 24
Nancy and Todd Smith are now friends
Jan 24
Nancy replied to Gary's discussion 'McMichael Well Independence Township' in the group Beaver County, PA
"Great Information !  Thanks Todd !    Nancy"
Jan 24
Nancy replied to Gary's discussion 'Mcmasters well on Hill road ,Hookstown/Georgetown' in the group Beaver County, PA
"Thank you Todd !  Your information is very much appreciated !  Nancy"
Jan 23
Nancy replied to Gary's discussion 'Noss Well Hanover Township' in the group Beaver County, PA
"Todd, I found out this information today ( I was told to check back in a month when they had their finals)  and I had also asked about the McMasters well in Georgetown, PA, (Hill Road) and I was sent the wrong information.  Have you…"
Jan 22

Profile Information

What is your role in the Marcellus?
Landowner
Why are you here?
Learning
Which state(s) are you following?
Pennsylvania, West Virginia, Ohio
Tell us your story...
I am trying to find out what shale plays are under my property. Also the depth and thickness. I know the Marcellus and Utica are there but I am now told there might be another and also possibly oil ? My gas lease will be up in Sept. of this year. I am just trying to find out more information to help me decide what to do about my next possible lease and what my mineral rights are worth.

I was contacted by an attourney. He is looking for people to sign with him for Chesapeake who have not signed any lease yet. The offer was $2,800.00 and 17 1/2. This offer was for Green Township in Beaver County.  Today is Sept. 26th, 2011.

Comment Wall (3 comments)

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At 10:05pm on March 9, 2012, Dave said…

thx nancy

drill baby drill-and kick it the right (vertical then horizontal)

At 11:35pm on August 5, 2011, craig said…

Thank you for the kind words. Life is one big lesson, the day you quit learning is the day you essentially die....at least that is the way I see it so far. 

Just heard good news about another surveyed pad in my area....they are getting pretty darn close!

I see you have conversed with Mark O.....he's a good guy as well.  

Hi Mark if you see this!

 

At 11:27pm on May 24, 2011, craig said…

Nancy,

There is no difference in royalty payments between a property with a well, or a property without a well. Royalties are based on the % royalty stated in your lease(or 12.5% state minimum) and the percentage of acreage you own in the declared unit. 

Here's how it basically goes:

A well is drilled and a unit is declared for that well only. The unit will consist of all properties that the gas co. feels will be drained by the well. Now if you have 76 acres leased and all 76 are in the unit and the units' total acres is 760 acres, then you effectively own 1/10 of the total unit acreage. Lets say the well produces $1,000,000  per month of gas.... then what the unit holders will receive is 12 1/2% (or what is in your lease) of $1,000,000 which is $125,000/month for all 760 acres. Now you have 1/10 of the total acres of the unit, so you would get $12,500/month or about $165/acre/month. In reality I have seen folks getting their initial checks that was for $300+/acre/month!!! There have been checks at $50/acre/month as well though. 

If your lease is for 15%, as mine is, then you would get 15%. All leases could be for differing %'s as well. To throw another monkey wrench into things here's another scenerio...I know someone who was just included in a unit in Ohioville/South Beaver. He has leased 250+ acres, however they are only taking .4 of one acre in this unit. So he won't get royalties on 250 acres, only 4 tenths of one acre. The downside is his lease expires May 2012 but since some of his property is in a declared unit, the whole leased property is tied up and it won't expire, so he will miss the $$'s and opportunity to re-lease next year. The upside is that they are drilling right there, and will probably be drilling close again and including the rest of his property. 

See, there are all kinds of wrinkles in leasing gas rights.

Have a good day!
Craig

 

 
 
 

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