WOW! talk about cherry picking. Broken hearts and broken dreams.

I was looking on the Butler County web site to see if there were any leases being recorded around me as I have been waiting on a lease from Shell for two months that now I don't think is going to materialize anytime soon. Well I did see a pattern of leases being recorded in grouped areas. Having the same road address and such. Some within a mile or two of my property but none or very few close by.

Now for the kicker. All of the leases being surrendered back to the O&G rights owners I saw being recorded. What's up with that? Well think about it. We all know now they target areas to put together units right? OK now for today s lesson let us draw a big circle or square if you like what ever your preference. Now let's sign everyone in that area to a lease. The engineers go to work forming a unit. Everyone here knows what a unit looks like. Now the knife cuts its deepest, surrender the leases for everyone that's not in that unit. People that may have been signed with a land group for a year waiting. Signing the lease (we're in the money now!) Waiting 90 business days (AKA 120 real calendar days). Now getting a letter surrender of lease. WOW! what a let down.

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Permalink Reply by T.Fiore on March 9, 2012 at 6:39am

Did the letter of surrender state a reason?          Wonder how many other landowners that has happened to?

Permalink Reply by Paul Blausey on March 9, 2012 at 6:47am

Did this happen to a land group? If so can I ask do you know the Groups name? or Lawyers of the group that allowed this to happen?

Permalink Reply by Lance Nimmo on March 9, 2012 at 8:19am
There should be a law against this. If these folks in fact signed a lease with Long Consulting and now they are backing out, that is BS. There should be legislation and punitive penalties for companies that don't pay lease money if there is in fact no title defect, etc...
Permalink Reply by Nut leesduh on March 9, 2012 at 9:24am

OK if you read my post you can see some things are as I see them. No I did not see or hear of any letters. I only assumed that there could have been letters. Other posts on here insinuate that some people don't even get letters that they have to check the court house to see any activity on their lease. Sorry about the confusion as I did mix facts with conjecture. You can go to the Butler County web site and read the surrender of lease your self and conject your own story as to what it means. I was just giving the only reasonable explanation that made sense to me.

Permalink Reply by Dave on March 9, 2012 at 9:48am

could they have been from the snyder-blx mds deal that washed out?

I am not aware of how that works but a bunch of those deals,dreams crapped out in december

Jim ShoosPermalink Reply by Jim Shoos on March 10, 2012 at 3:46am

You're not doing anybody a favor by posing conjecture as being facts.  It's not as if there isn't enough distrust and animosity towards oil and gas companies without you feeling the need to promote rampant speculation.

Permalink Reply by Dave on March 9, 2012 at 10:32am

option lease recorded.....thats how a group or law firm controls it as I understand

I don't think these are from a driller....I hope 

not sure the difference between surrender or release from lease

hopefully one of our esteemed barristers could enlighten us

Permalink Reply by Dave on March 9, 2012 at 11:19am

merely conjecture on my part did not even know utica shale was a group

Blx snyders and mds had thousands of acres tied up for over a year @ 4k to 4.5 k and it crapped out for some but not all

again only thinking out loud if a right of first refusal was in the lease and it was recorded it would have to be released(let go)

I am completely unaware and totally uninvolved

Permalink Reply by eric jenson on March 9, 2012 at 10:43am

At $2.30 We may see a lot of this.  But, like they say. "thats the nature of the beast"

Permalink Reply by Frank Walker on March 9, 2012 at 11:57am

You nailed it, Eric.  So many other posts.  Your's is the smartest.

It's not "right" or "fair".  But conditions 90 days ago were so much different than they are today.  There is actually danger, with gas so low as you point out, some of these gas companies could go down the "turlet".  Certainly some are fighting for their lives, thinking "survival" above all else.  It's not that the gas companies want to hurt anyone or appear dishonorable.  But, just for openers, look at this weather.  It is ridiculously warm right here in PA, where I live.  And it is five to ten degrees warmer in Philly and NY than it is in our rural regions.  People burn a lot less gas to heat their homes when it is this warm . . . . if they burn any at all.

Bottom line, there is a glut of gas.  Somethin' has gotta give.

Permalink Reply by Chartist on March 9, 2012 at 1:19pm

where's those nimrods talking about the juicy steak in the kitchen now?  I loved the imagery when I read that line on this site....It's all greed, human nature don't you know......You take the money and run....Ya know, bird in the hand and all......I still say, half the folks here won't live to see a dime in royalties.

0l1a6laz7smpfPermalink Reply by 0l1a6laz7smpf on March 9, 2012 at 1:58pm

so much for those that kept saying,' ha, the real money is in royalties not the upfront bonus'..you only hope your families will be gracious to share it with one another!

will this help get the NG back into more use?

http://www.cngnow.com/Pages/information.aspx

.

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