Is anyone in the group knowledgeable about current events, particularly near Overbrook Road?  What type of unitization is in process for what well?

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http://www.ahs.dep.pa.gov/eFACTSWeb/searchResults_singleSite.aspx?S...

Not Middlesex, but close by. Permit application, Clinton and Fawn Twp. 

Range appears to be moving in.

Flaring the Reno well. Very Bright.

Must be done fracking. The parade of water trucks has stopped and just a few vehicles around the pad.

Can't exactly remember why they flare. Assuming at this point they are testing flow and have no pipeline to put it in so just burn it off.

 

Lots of REX leases from Middlesex Twp were recorded on Wednesday this week FMV. Are you still talking to the landman or did he give up on you for awhile. Or maybe you  were one of those recorded?

No one has talked to me and I my Phillips lease is up on the 13th.  

I guess he gave up on me for a while.  lol   I should take a look at those new leases just to see where most of them are. I have been completely surrounded 3 deep by Rex leases for about the last year or more and sorta quit looking them up. 

He will be back. Rex has been pretty active in northern Middlesex and southern Penn Twps and Huntly and Huntly has been fairly aggressive with a 10 yr lease lets say south of 228.

Maybe a good thing, little bit of competition out there. 

I believe I am in a spot that Rex would like to have. I can wait them out. As you say you usually only have 1 chance at getting it right and I am not signing till it is "right".

Even if I signed right now I expect I would not be in a unit for a year or two so they might not get serious till then, We shall see.

Pipeline guy was around as I mentioned in another thread. Just wanted to survey at this point, would not quote any kind of dollar number yet. Waiting to see If they even want to cross my property. (Mark West - Reno to Rape) As far as I can tell they have not even started the permit process yet.

The more I study the pipelines the more I think they are bad deals for the landowner.

There is going to be a ton of money made over the next 20-30 years on these lines and from what I see so far they are not paying near enough. Absolutly need some annual rental or "wheelage" which I believe is very hard to get. As I said I have not received an offer yet so I could be wrong but, I have a feeling it will be a tough negotiation.

Denise - IMHO  they will be around sooner or later. Sign a "good"one !!

yep been studying....know what i want and what I will accept....going to try some stuff and see how it goes...I was thinking....they do a Pugh clause for land not held by a well, how about one for the differnt layers not drilled...for example, you drill marcellus...well that leaves utica and the rest untouched if you dont want to drill them why cant i let someone else...will see what happens.    there is an 8 in transmission line accross my property already with an unstated right of way, so i think when it comes time i will not have mush to say about another pipe if they use the same location.   ashame would like to pay my mortgage off.   lol.   

 

I am directly West of the Kennedy site....being farms not too many neighbors away....never met them, but i have met some of their realatives.   we wukk see what i can get   then it goes to an attny,   not sure if we will use the one we always use for everything else or look for one that specializes oil and gas.

 

Denise, keep on studying. lol   The more I "study" this stuff I keep turning up little bits and pieces that may be to my advantage in negotiations. Alas, so far I have not seen any "negotiation " on Rexs part, just here it is take it or leave it. So far I have left it. But at least the landman knows I am not a complete chump so hopefully it will work out in the end.

Pugh clauses - near and dear to my heart. I have said this before but I will say it again: Mention a Pugh Clause to a land man is like throwing Holy Water at the Devil. They cringe and stutter and just say no way. Here to the center of the earth.

Frankly, even if you could get both horizontal and vertical clauses, I don't think you really would have much chance of leasing it to someone else. Mainly because I would think you would be surrounded by leases that do not have them. You would be just a little island in the middle.

That said, I still think Pugh is a good lever in negotiation. Keep hammering it and it at least shows you are aware of the extra value that is there in the other layers.I have hit em with "Ok, no Pugh, how about an extra 500 for each of the other layers?"  They just try to change the subject and say "Well you are gonna get royalty's off the other layers".  

Probably not going to win that battle but might be able to get a bit more per acre upfront. But it also sets up a give in for, to my mind the most important thing in a non surface lease - No deductions on the royalty.  Like "Ok, no Pugh, but how bout another 1% on the royalty and no deductions". Never know, hard a$$ em on every little point and if they really want your ground you may get what you want.

They will try and scare ya with "We will just drill around you". Maybe they will. Just depends on your situation, how bad ya need the $$$, etc, etc.

Sorry to ramble on so long - but fair warning - I will be back with some thoughts on the pipelines. lol

Cheers

well they need me or fritz to get the smaller plots that have no surface.    my leases had a lot of surface conditions that i would like to keep and no storage.  dont think i will ever give in to that.   i agree better to sign no agreement then a bad one.   shall see when they come knocking....thought i would have seen someone other then the pirahi wanting to buy the rights not to lease.   one kept calling so i told them when they can offerr 5 million dollars call and we can chat.   that and when the beggars call and ask if they can record for training.   i say no     throws them and they keep talking then they realize and dont know what to do...so i say no and hang up

got to have fun with skum

Denise, on the pipeline ROW - I would not give up so quickly.

I am no sure what you mean by "unstated right of way"but I am going to make some assumptions.

I am assuming that it was there when you bought the property, signed by a previous owner and just carried over.

I am assuming that there is a piece of paper somewhere signed by somebody that has all the terms and conditions of the ROW.

I am assuming that it would be a good idea to try to get a copy of that piece of paper!  LOL

I am assuming that the piece of paper "might" have some conditions that are in your favor. ie: Additional lines may require additional compensation and renegotiation

I am assuming that somewhere, either on your deed, survey, or on the pole markers they put on the road crossings that you can determine exactly who has control of the ROW.

The pipeline guy that I talked to indicated that they may possibly put as many as 5 lines through that ROW in the future and pay for each additional one. Landman talk - take it for what it is worth.

IMHO - pipeline ROWs are going to be very valuable in the future. 

Don't give up on that 8" ROW yet. May not be enough in it to "pay off the mortage" but every little bit helps!  LOL

Cheers

.

thanks for the info...they have been marking the pipeline for years and dont do anything or contact us  just i will walk the field and find new paint or flags....even my survey states unstated right away...when i asked phillips at the time...they said at the time it was unstated and that 1- ft on each side was good...that is all they mow on other properties....

Very curious situation Denise. "unstated" has me stumped. Need somebody smarter than me to figure that one out.

1 ft each side don't sound like much, must just be a local line for homes. 

IMHO I would press Phillips to fully explain what they got there. And show some paperwork, for sure.

sorry typo 10 foot....guess that is what i get for typing in low light.

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