Lease Offers: Potter County / Date / Royalty % / Bonus per Acre / Acreage

These are dated, but I wanted to get these down for future reference.

Pennsylvania-Potter County     05/16/2011     12.50%     $500.00    5 years     89.00
Pennsylvania-Potter County     03/15/2011     15.00%     $1750.00    5 years     115.00

 

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Replies to This Discussion

Permalink Reply by Mike on January 21, 2015 at 6:18am

I have a question for those of you who know one helluva lot more about this that I do. Is the lease starting date the date than the landowner signs the lease or the day that the Company signs and you receive you bonus payment?

Permalink Reply by Jack Young on January 21, 2015 at 7:52am

Unless the lease states otherwise, the primary term of a lease starts the date used on the lease regardless of whether everyone has signed or not. The payment date has no impact on the lease term. Some leases give an effective date, however, and that would override the lease date. So the answer depends on the language of the lease itself.  

Permalink Reply by Janice L. Hancharick on February 17, 2015 at 3:40pm

While it was indicated earlier that leasing offers were rescinded  recently... not actual leases ,  I have heard that leases too can be rescinded because companies hadn't signed the documents in hand.  Hearsay isn't valuable unless it can be confirmed.  Anyone in Potter or McKean having a Marcellus and/or Utica lease that contains both the lessor and lessee's names???

Permalink Reply by Janice L. Hancharick on February 23, 2015 at 9:56pm

JKLM is still leasing in Potter.  Charles Cole Hospital leased 760 AC for $2,200, 12.5 %, 5 yrs. I believe.  It's a company that has made solid inroads leasing in eastern Potter.  After Dr. Engelder's recent presentation in Coudersport  focused on our Utica's potential, it was obvious to the audience (100+ on a bitter evening) that JKLM has known all along Potter is a good investment.

NAPE TX conversations indicate that Mr. Pagula will be having competition as the region becomes more than "AC of interest".  

Competition is good for everyone!  More than corporations leased recently.  Individuals received decent leases late in '14.  Our progress is slower than we'd like, but it's nice to see the game board getting some action.  Come on Polar Vortex!  Our resources are ready and waiting!

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