What's going on in your area?? any info???

Just curious...

     I am in Liberty township and a few months ago got an offer to buy my royalties for 1500 to 1800 per acre, but they would do a more in-depth look if I was serious which "mite change the numbers" slightly....even tho I am not drilled or receiving any royalties ..talked to a landsman rite b4 I contacted them and he advised caution as there will be "significant" activity in my area in the "near future"....how about it, anybody else get an offer or hear anything or see any activity here in Tioga Co. ?

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Replies to This Discussion

Permalink Reply by Rick on December 21, 2017 at 8:27am

Rumor has it that the rig will be moving to the Houck 433 in Delmar township after the Neals.  Additional permits have been pulled for the Cruttenden in Middlebury as well.

Permalink Reply by Michael Sasarak on December 23, 2017 at 6:30am
Just curious. I am about to sign a lease with Seneca. I know the gas activity has picked up quite a bit. They want to sign the lease for 10 years. We will prob negotiate for 7 or 5 years. They did mention the property may fall into the grid for one or two of the new well pads being installed but aren’t sure and I may be able to get royalties for that which is u known currently. What are the current lease rates per acre you are seeing? They are offering $1,500/acre. I know the previous lease was $2,500/ acre.
Permalink Reply by Thomas Lilli on December 23, 2017 at 6:40am

So much more to the question. We are down in liberty on Mt top road. Signed with repsol 1500/15/5 w/3yr ext at the end of the primary term. We have all kinds of addendums and about as bullet proof as you can get “no deduction clause”. It all has to be considered. At the time we signed, that was about the best one could expect. Also, might want to know the unit size.  

I hired red legal counsel. Probably a good idea before signing anything. 

Permalink Reply by paleface on December 23, 2017 at 12:06pm
Permalink Reply by paleface on December 24, 2017 at 2:12pm

 Merry Bonus and Happy Royalty's to everyone.

Permalink Reply by paleface on January 6, 2018 at 3:40am
Permalink Reply by paleface on January 13, 2018 at 4:09am
Permalink Reply by Deb Reynolds on January 15, 2018 at 12:54am

thanks, as always, for sharing these, pale!

Permalink Reply by paleface on January 16, 2018 at 3:49am

Your welcome.

Permalink Reply by Becky Moore on January 19, 2018 at 2:19am

Michael, Did you end up signing with Seneca? 10 years?

Permalink Reply by paleface on January 20, 2018 at 4:19am
Permalink Reply by paleface on January 27, 2018 at 1:00pm

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