Replies to This Discussion

Permalink Reply by Steven Gardner on March 21, 2013 at 2:04pm

I got a letter from them today wanting to lease my oil & gas that their "courthouse research has shown I own an interest". Well I do and its been leased for over a year now and they are offering less than we leased for..?.  My letter indicates they are looking for property in the southwestern part of Guernsey.

Permalink Reply by Tony Yurina on March 22, 2013 at 1:51am

I was told by a former employee of Keystone they had production in PA they operated prior to the Marcellus Shale play.  They are an established company.  

Permalink Reply by Steven Gardner on March 24, 2013 at 2:42am

I did a quick sec of state search of Oh, PA and WV and found them registered in PA with a creation date of 2/28/13 ... Go Figure ! ..

Permalink Reply by s palinkas on March 22, 2013 at 4:34am

I received the same letter. I am not leased. Shell bailed out on our lease last year.

Permalink Reply by Brian M on March 23, 2013 at 10:01am

I too received a letter. Talked to a nice gentleman in their office (I'm sure it was their home office but that's OK).

Their letter was $4000.00 & 18%...I told him minimum 5000.00 & 20% gross.... he said possibly could do 5000.00 but firm on the 18%......

I'm pondering!!!

ANY THOUGHTS anyone???

He also said they're dealing with a group in Guernsey right now.... I want no part of a group!

Permalink Reply by James Yoder on March 23, 2013 at 4:40pm

My Father-In-Law received a letter from them a few weeks back as well. We sat down with a landman and had a good discussion regarding their lease and terms. They seemed very flexible and willing to work with us. We've yet to receive an offer of $5,000 per acre, so please let us know if that is firm. I don't know of any other company that is actively leasing in Guernsey County? That said, I've not been able to procure much information on this company. Though we had more than enough information with Shell, signed a lease with them roughly a year ago, and have been given the run around, and obviously never received a bonus check. They granted my Father-In-Law his release, and he has an appointment to sign with them this week. I'll keep the group posted as to how this plays out.

Permalink Reply by evan on March 24, 2013 at 4:22am

C arrizzo , Gulfport, Eclipse and Antero are doing some leasing in Guernsey. Ive talked to them  recently

Permalink Reply by Brian M on March 24, 2013 at 4:27am

What $$ are they offereing

Permalink Reply by James Yoder on March 24, 2013 at 5:50am

I probably should have been more clear, My family is west of I-77, I'm not sure any of those companies are out this way.

Permalink Reply by Brian M on March 24, 2013 at 3:19am

I think if we start taking anything less than 5000.00 & 18-20% we start to de-vaulue our land. Plus have them make the contract say "negotiable at re-newel time"

Permalink Reply by Brian M on March 24, 2013 at 6:37am

We all know there is gas and/or oil in the ground. It may not happen now but when our illustrious government lets companies drill without taxing or over regulating the last thing you want is to be tied into a lease for 10 years at a low rate.

Another fact is oil & gas co. want what's best for them not the family who is scraping by and could use 5000.00 6000.00 acres to live. Face it, you oli & gas co. make billions and could use the tax breaks anyways.

If things were bad why are many companies coming to Utica from Texas and other parts of the US. Most Oil & Gas co. look at an active well then look at their production rates, jump like buzzards to lease everything that is not leased at the best cost for the company. I understand business is business!

I say patience for landowners in Utica will pay off big time. Now, if you need the money then I say sign especially if you could lose the farm, so to speak.

Love the USA and free enterprise but there are too many palms being greased to screw the average citizen.

Permalink Reply by bo boboski on March 24, 2013 at 10:20am

I think you boys should just wait till EQT has a flowtest on the red lane & cubbison rd  wells. that should tell the story for that area. Who knows,maybe $6000,and 21% might be in the cards? couple months out ,be patient. Keystone will wait. EQT may want more acreage!

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