Replies to This Discussion

Permalink Reply by Prospector on August 14, 2011 at 11:47am

Just seen a lease for Indiana County from Chevron.  It was an Oil & Gas Lease.  So they are still trying to lease everything under one lease.  So I am not sure what exactly they were after other than all the oil and gas.

• ▶ Reply

Permalink Reply by DIGGER on August 18, 2011 at 7:59am

Do you know what they offered there for an acre there in indiana ? also wonder what they offered on royalties ? 2000 an acre and 15 % royalties here in kiski twp

• ▶ Reply

Permalink Reply by Prospector on August 18, 2011 at 8:23am

Ha, only $750/acre for 5 year or $1500/for a 10year.  Royalties are the same at 15%.  Let me know how long of term that was for in Armstrong county, I am going to make sure the land owner knows this info b/c they are still in negotiations with Chevron.  Any other info will be very much appreciated.

Thank you again.

• ▶ Reply

Permalink Reply by DIGGER on August 18, 2011 at 10:31am

Thats for 5yrs with a 5yr option they r testing water 4 both quality and quanity we have really good spring water (no city water) we dont want it messed up and end up with no water. if by chance god forbid something happend they have to supply water thats equal to it within 48hrs permanent water within 10 days.what twp is that lease 4 ?

• ▶ Reply

Permalink Reply by Prospector on August 18, 2011 at 2:01pm

East Wheatfield Township.  I am trying to figure out why such a difference in offers?  How many acres are you dealing with?  This parcel I am talking about is 34 acres, but is bordered by all properties Chevron (formerly Atlas) has leased.  Can you think of any other stipulations/reasons of why such a difference in offers? 

I also talked to landowner today and he is going for a Marcellus gas lease only, so as not to include any of the other stratas.  But just to be clear, the $750/acre offer was a regular oil and gas lease, which would take in all stratas.

You definitely don't want anything to happen to your water.  So, Good Luck!

• ▶ Reply

Permalink Reply by DIGGER on August 19, 2011 at 4:32am

Thats for 5 acres I own, 22 acres that my father owns, and 33 that my grandmother owns. We are bordered around all of our land by Chevron also. We tried for Marcellus Strata only and they said they wouldnt nog. anything other than all Strata. Everyone around me it didnt matter how many acres they own, all leases were the same as     mine.There might not be alot of options with them owning everything around the property.sounds like he is in the same situation as we are in.

• ▶ Reply