Replies to This Discussion

Permalink Reply by Mari-Anne Mahlau on June 20, 2012 at 10:39am

Oh, and there is a pad in our section (not sure of the terminology for the parcel our property is associated with), but not sure how many wells are on the pad.

Permalink Reply by melissa humphrey on June 20, 2012 at 9:27pm

interesting. if not now, should be a future trend.

it is possible you may need to be producing 1st.

 

are you getting royalty?

 

could be hrd to borrow 150k on 15 A.

mkt for 15 A of subsurface outright now with 2$ gas may be 4-5k per.

 

Melissa, with rough guesses

Permalink Reply by Mari-Anne Mahlau on June 21, 2012 at 12:19am

We were just talking with a mortgage expert who suggested we might be able to borrow on potential future assets from it since it would at some point be earning on a regular basis for a number of years. Of course, he is in NJ and admittedly isn't familiar with all of this since it is unique to the areas affected. I just figured I'd ask if anyone had heard of it happening, we are going to ask our bank out in the area,

The pad has been there and there are 6 wells and it looks like they are finishing up running all the pipeline for our unit. Not sure what that means as far as when we might start seeing royalties. Our unit negotiated 20% and got 6K per acre for our bonus, which his mom was paid while she was living.

Permalink Reply by Mari-Anne Mahlau on June 21, 2012 at 12:21am

And we are completely new to any of this. It's all Greek right now and I am trying to educate myself doing research. I was happy to find this site and forum. The other thing the mortgage guy suggested is to see if the gas company that owns our lease would give us an advance on royalties and charge an interest rate where we would just not see royalty checks. That just seemed unlikely to me from an energy company.

Permalink Reply by PHILIP ANGELO on July 23, 2012 at 1:35am

Just be patience don't be hasty. Hast makes waste. Is there a well drilled yet or producing ?

Permalink Reply by Mari-Anne Mahlau on July 23, 2012 at 2:08am

Oh I get the patience thIng, but buying a house right now would be very good considering it is a buyer's market. This house we found was valued at almost 300k 5 years ago and is selling for 235k now. I believe they have drilled all 6 that are slated to be drilled in our unit's pad now. The lines are buried. We just don't know whether they are connected to the mainline yet. We have not heard anything from the company since they notified us that they have exercised their option.

Not that I put much stock in rumors, but I have heard there are two major power plants set to be built in
Bradford county area that will be in operation by 2014 and run on natural gas that would require 200 wells to run. That would mean patience for a lot of us who have not yet gotten royalties.

But anyway, the house we really wanted we offered a seller financing deal on and in the end, they made us a lease option which was ludicrous, so we let the house go though it was really perfect for us. We are close to qualifying for a mortgage, but my husband changed careers and they want him in his current field of education for at least a year to prequalify. Or he has to go back into his former field of biology and chemistry for ninety days...jobs are not happening there.