Replies to This Discussion

Permalink Reply by Rob on October 23, 2009 at 5:52am

I contacted Rex in State College they are suppose to get back to me. I will let everyone know what they say.

Permalink Reply by Bill on November 18, 2009 at 5:19am

Rob,
I also contacted Rex. A landman called back two days later and asked me my parcel numbers and said he would map it out and get back to me. He called back and said my property, in Clay Township, is not in Rex's "buy area" at this time. However, he told me it was likely to change quickly (within a couple months), and that Rex would probably call me before they called him to let me know what the status was.
Bill

Permalink Reply by Rob on November 18, 2009 at 7:22am

Bill,
Do you happen to have the guys phone # they never returned my call. I am in Venango Twp. I will let you know what they are saying
Thanks

Permalink Reply by Bill on November 25, 2009 at 5:08am

Rob,
I went to their website and called the number there; 814-278-7267.

Bill

Permalink Reply by Rob on November 25, 2009 at 6:01am

Bill
Thanks I will contact them after Thanksgiving. Have a great Holiday!!
Rob

Permalink Reply by Tom on January 5, 2010 at 6:30am

Good Afternoon Rob and everybody else.

I (and my brother) are working on a lease in Summit Twp with Phillips Exploration - 42 acres @ $1500/acre and 15% royalty.

Permalink Reply by Rob on January 5, 2010 at 8:30am

Tom
How close is that to Venango Twp. I contacted Rex about our ground 375ac of oil and gas bordering on state game lands. They are not leasing at this time in Venango.
Thanks

Permalink Reply by Tom on January 5, 2010 at 8:45am

We are in the middle of Butler Co - would imagine you are north bordering Venango County. Sean is from Phillips, try him at 724 422-7898-actually just e mailed him. His e mail sdelaney@phillipsres.com.- have your property tax # and acreage available. They usually have to check with the company geologist.

Permalink Reply by Rob on January 5, 2010 at 11:08am

Thanks a bunch. I appreciate the help. I live in the Lancaster area, so its hard to stay on top of whats going on in Western Pa.
Rob

Permalink Reply by Robert Norris on January 13, 2010 at 10:53am

We just sign a lease with Rex and are in the "90 days" period, waiting for the lease to go through channels. I'm always hesitant to proclaim to the world the specifics of a contract, but I will say that we signed for more than the $1,200 being offered by another company (in payments over 5 years) and we did better than the 12.5 % royalty. We are leasing a little under 50 acres, in several adjacent parcels.

We did not go through an attorney. I did ask for an addendum that states that our water wells would be checked before and after any drilling on our property, that we had a say on well, road, and pipeline locations, and a few other things. The lease agent had a standard addendum that seemed to fit our needs. I believe I found the addendum suggestions at the website w*****************. We also changed the original lease to include the right of first refusal.

There was a lot of good information at http://naturalgas.extension.psu.edu/Leasing.htm and I attended one of the PSU extension meetings explaining Marcellus drilling last year.

The land agent was patient with us and answered many of the questions we had. Time will tell if we made any mistakes, but having talked to many others signing leases over the last couple of years, I believe we did very well.

Permalink Reply by Rob C on January 13, 2010 at 3:41pm

Do you mind sharing what township you're in? I'm in Adams, also approached by a very professional agent for Rex. Thanks!

Permalink Reply by Robert Norris on January 13, 2010 at 3:51pm

We are in Middlesex Township. Our land agent is George Karazsia [karazsiag@yahoo.com]. Bob

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