Experience with Rice Energy

Wondered if anyone has had dealings with Rice and what their signing bonus  and royalty rates are?

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Permalink Reply by Jason on August 30, 2013 at 4:27pm
My brother is in eastern Washington County (union Twp).
Has about 4 acres and offering him $6,000 / acre and 18%. Not sure what "enhancement" clause states.
Range offering him $4,000. I have no idea why offers are so high. He called me tonight with the news. I thought it was a dry gas area (Marcellus) but I'm not sure about Utica and UD.

Jason
Permalink Reply by Finnbear on September 3, 2013 at 1:35am

Washington County PA or OH?

Permalink Reply by Corvette on August 30, 2013 at 11:04pm

Thank you for the replies. I called Rice and I'm waiting for them to research and see  if they are interested in my land. Prices are high, was told by an attorney working with Great River that a geological survey showed that  Jefferson county Ohio is sitting on a huge gas pocket. Things have been quiet here through all the drilling hoopla and now we are the hot spot. 

Permalink Reply by Xfinity on August 31, 2013 at 3:47am
I signed with Rice a few weeks back for $6,000 an acre and 18% gross royalty. My property is 7 acres in size in Nottingham Township, Washington County. I attended their informational meeting at the Nottingham Township building where they offered $6,000 an acre and 18% to everyone with 5 acres and above in the North Strabane, South Strabane, Nottingham, and Somerset townships. I was quite impressed by their offer as well as my attorney was impressed with the language of the lease. It's great to see a company who finally cares about the landowners. Just saw in the paper Rice is having another meeting Tuesday, September 3rd at the Hilton Garden Inn in Southpointe.
Permalink Reply by rmc on August 31, 2013 at 9:20am
I heard that Rice has signed some leases here in Richhill township pa for 5400. Hundred an acre with 20 percent royality at the well head.Can I prove they did ? Nope do I believe they did yep but sure has been hush hush for some reason.
Permalink Reply by Corvette on September 1, 2013 at 2:25am

Would you happen to know what time the Rice meeting starts, I may attend it. Thank you

Permalink Reply by Xfinity on September 3, 2013 at 2:11am

I believe the meeting starts at 6pm

Permalink Reply by Corvette on September 3, 2013 at 5:47am

Xfinity, Thank you for the reply. I'm about 80 miles away but I plan on attending.

Permalink Reply by james on September 3, 2013 at 8:41am
Anyone have a landmans number for Rice energy? I see alot of people talking about their lease and the price they are paying for them and sounds like most of the people that have signed with Rice are happy. We have over 1000 acres up north that is all in one block and didn't know if Rice would be interested in leasing with us? Thanks
Permalink Reply by Corvette on August 31, 2013 at 12:48pm

Rice sounds pretty reputable. Listening to offers from Great River, Paloma and American energy Partners. Thought I would see what Rice is offering.

Permalink Reply by Inchworm antenna on August 31, 2013 at 3:17pm

I see the American Energy Partners ad in our local newspaper looking for land to lease.  It goes on to say they are experienced form their careers at Chesapeake.  Does this mean they learned how to squeeze royalty owners out of their royalty, too? Look at the royalty AND expense issues Chesapeake is being sued for.  This stuff just keeps seeming to repeat itself in many areas of the country the country.  Is this one of the things folks at AEP also learned from their recent careers at Chesapeake?  I don't know, but the questions are worth asking.  See the recent articles about this issue, and be careful about your decisions and who you sign with. Might be best to go with a reputable royalty payer.

Permalink Reply by Corvette on August 31, 2013 at 11:49pm

I agree, been reading where the people in western P.a. signed with Chesapeake and they learned that 20% of nothing is still nothing. Seems McClendon took the market enhancement and changed the intentions of it. You know I really like my property and wonder if this is all worth it to let anyone or any  company have this control of your land. You can have the strongest language to protect your  land but many companies do what they want and tell you if you don't like it to sue them. All the while knowing you don't have the resources or sometimes the fortitude to get into a long drawn out court battle. Like anyone I like the money but I also like my peace of mind.

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