MDS Lease Sale

At the end of 2010 and beginning of 2011, there was a joint effort group lease in several Western Pa. counties. Does anyone know how this ended?

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Permalink Reply by JD on November 30, 2011 at 7:07am

if the deal is dead or has been dead, all party's involved would be open to a lawsuite for not disclosing the details including the bank in Canada.  It's a long shot at this point but it's certainly has a lot of people involved with a lot of time and money. Either way, Less than a month to be paid.

Heard some rumors too but just that, rumors. Heard it sold, heard only partially sold, heard the deal is dead. Only time will tell.  

Permalink Reply by SBRW on December 1, 2011 at 2:14am

What no regional or area basic detail?  Like for ex: parts of armstrong county getting ....?  Indiana, Butler, Westmorland etc....?  Or we are teaming up and retaining x amount and drilling our selves or sold part to ? etc.... Nothing more than we will be sending letters and or you can call?   Has to be a number of acres leased or retained etc... some kind of vague info with acreage and numbers.  

3uq96odaochmjPermalink Reply by 3uq96odaochmj on December 1, 2011 at 3:15am

Chill mahn..........drink sum tequila and listen to sum Bob Marley muzik mahn.......whut will be, will be................

Permalink Reply by SBRW on December 1, 2011 at 3:38am

Ahh Jasper - Bob Marley reminds me of some of my college days of doing just as you stated "chill mahn" lol.  I am as chilled as one can be but I am sure everyone would like some details - just saying - no info posted for over a year now and still the same.  Its like a running soap opera episode - same spill some time later. 

3uq96odaochmjPermalink Reply by 3uq96odaochmj on November 30, 2011 at 12:37pm

No lawsuit needed by anyone.  It was an honest effort for everyone to make money.  As they say....."Oh well".  (get it?  "well" - hahahaha)

Permalink Reply by JayWil on December 7, 2011 at 12:20pm

Anyone get a letter in the mail?  Just curious about how this huge group sale is panning out.

Permalink Reply by Chuck Lane on December 7, 2011 at 12:33pm

Knapp website has an update today saying there is a holdup with the letters as they are anticipating adding additional acreage and the letters will go out Monday.

Permalink Reply by Prospector on December 7, 2011 at 2:35pm

Didn't get a letter, but did call in last week to see the status of my property, it did not get "selected" as many others did not from Clearfield, Centre, and Cambria Counties.  It sounded like the ones sold were from Indiana, Butler, and other ones by them.  However, I was also told there was not too many sold and that Knapp could possibly "move" the properties for around $3000/acre with additional time alotted. 

Just wanted to share.

Permalink Reply by JayWil on December 7, 2011 at 2:58pm

Wasn't this deal to be to a very large one and possibly to an international buyer where ALL acres were to be sold all-or-nothing?  This sounds like other sales where the buyer ends up cherry picking what they want.  Too bad for you ppl who have waited for so long for good news.

Permalink Reply by SBRW on December 8, 2011 at 2:16am

HMM- no ---- they could move the property for around 3k/acre - anyone can for that matter in most places.  Heck I have had more than that offered with out even contacting anyone as of yet as I am tied up in this pick and choose deal until the 31st just as everyone else that signed on thinking this would be a all or nothing deal.  You better bet that they still made their percentage on holding everyones leases while a bunch got nothing out of this deal other than - no answers and their property held for over a yr now.

   Heck anyone want to give me the rights to their gas to try and lease and payment MAY be paid in full by Dec. 31 2012 ?   You won't hear anything from me until next December unless I get this sold and I will won't sell it unless I can get the 4k/acre.  Kind of BS when you stop and think about it. 

 

   Congrat's to everyone that was able to get a deal cut and to everyone else - well at least the offers have went up  ( in most places)  in the past yr that your gas has been tied up only to be not selected.  

 

 I wonder how many acres snyder actually sold/leased and for what price??? I bet they only sold to move other acreage that was not theirs and behind closed doors as they the doors have for sure been locked tight they either sold their property for more than the 4k or just partnered with whom ever bought the leases adjoining theirs.  As I stated before they don't need the money and they are/were not going to give their acreage/gas away for nothing other than a huge sell which apparently did not happen as a whole. 

I for one would not have them move the acreage for the above 3k/acre as you can more than likely make a few phone calls and get the same if not better deal.  Problem with this entire sale is they missed it by a yr or so.  If it would of been put together sooner it would of went as a whole I believe before all the other companies beat them to it for ex: Chief, phillips etc...

Be patient as we all have and hopefully with the new year and budgets the offers increase.  Wonder if everyone that has a offer will get paid by the 31st?   That more than likely will be delayed just as the letters are now.lol What the hell does including more acreage have to do with you getting your letter on your property that has been sold/leased?  I can see for the ones that were not leased but for the ones that have been - why no letter - ?

Permalink Reply by JayWil on December 8, 2011 at 10:17am

It sounds like people are disappointed but not surprised.  I personally only have a few unsigned acres and am not in any hurry.  On this deal I did hear some landowners signed up for 3K minimum, some 4K minimum, and some 5K minimum before the 20 percent commission, and wasn't the term for 10 years?  Leases are going for 3K+ now for 5 years.

Permalink Reply by Keith E on December 7, 2011 at 3:30pm

What a messed up process. Needed extension because too many people signed up. Then can't move acreage because not enough acres in certain areas. I signed on because my acreage was in 4 county area that Knapp was looking to sign in. This was supposed to be a bid for the acreage as a whole. I, for one, am glad to move forward without a deal. My gut feeling is I am better off since this did not go down as promised. Again, what a messed up process.

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