5 year Lease with Shell/Rex .....

September 16th makes five years for Lease with Shell, which Rex took over.

Northern Butler County, Venango Township.  Will see what future holds.

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Permalink Reply by Trapper on September 17, 2016 at 4:25am
Mid October for me here in Southern Lawrence County......
Haven't heard a peep yet......
Permalink Reply by Oliver Perry on September 18, 2016 at 8:39am

I wish you good luck Terry. It seems to me that REX has forgotten about Venango Township.

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on September 18, 2016 at 2:53pm

Oly & Trapper,

     Being forgotten is better than being underpaid by around 100 to 90% of what your lease calls for.

You can collect a nice bonus when you Lease again. Remember "The Bonus is Everything, The Royalty is nothing".

Taken from a meeting where DPS Penn Reps told us incorrectly "The Bonus is Nothing, The Royalty is Everything". Nothing could be further from the truth.

Permalink Reply by Chris on September 21, 2016 at 6:18am

Rex is not planning to drill much additional acreage over the next few years. Due to low gas prices they basically lose money on every mcf sold (but we will make it up in volume! as the joke used to go during the last internet bubble). You can check their public filings to get a feel for what areas they plan to develop.

Permalink Reply by Michael R Mason on September 21, 2016 at 6:40am

I called REX and they notified me the lease for my property wont be renewed. Lawrence County RT108 and RT388

Feel free to call and ask them directly for your property.

Rex Energy
Tom Merco
724-302-5106
Call 8/26/2016  lease will not be renewed

Permalink Reply by Holly Girdwood on September 22, 2016 at 1:33am
I have also been notified that Rex isn't renewing our lease in Worth Twp Butler County

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