Utica Leasing Offer in Greene County

Hello Everyone, my family and I own some land in Springhill Township that was recently leased for Marcellus production. Shortly afterwards we were contacted by the same company with a Utica lease offer that was substantially lower. Without disclosing specifics, I was wondering if anyone has leased the Utica rights and if so, what is a fair price. Our offer was less than two thousand per acre. Thanks!
John

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Permalink Reply by MJR on December 9, 2014 at 8:55am

What State and County are you located?

Permalink Reply by John B. on December 9, 2014 at 8:59am
Apologies, I thought I posted in the Greene county forum. The land is in Greene County, PA
Permalink Reply by Mother on December 9, 2014 at 11:34am

HTC offered us 1500.00 at 18%…I don't know any other details, but that's a big fat no!

Permalink Reply by rmc on December 9, 2014 at 1:22pm
I beleive tug Hill is offering 4500.oo hundred an acre for Utica lease in Greene county. Oh and 18 percent.
There's a lawyers group from Moundsville Wv signing people I heard untill the end of the year
Law firm is GKT law firm in Moundsville Wv
Permalink Reply by Jeff Kerr on December 12, 2014 at 9:28am

That is a very low lease price for the utica in Greene Co. PA. I feel that is the core of the Utica in Greene CO. hold out I would not take any thing less than 5-k a acre and 20 % royalties. I have property in Greene Co. Springhill TWP all so. Ned Ridge Rd,

Permalink Reply by Tim Tarr on December 12, 2014 at 5:40pm

Make sure to get a statement (Clause) stating that Leasee acknowledges Lessor has a Marcellus Lease. I can see lawsuits over this. In order to drill Utica they will drill through Marcellus at the pad. Perhaps a non surface Clause would suffice. As always get competent legal advice.

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