$14,500.00 an acre

Hello folks I'am posting this to give folks a ideal of the value of their mineral rights here in Greene County.
I leased my Marcellus shale five years ago for five thousand dollars an acre recently the company elected to extend the lease for another five years paying the oringal bonus money again.
So that equals 10 thousand an acre.
I recently signed a lease with a land group out of WV for 4500.00 an acre for the Utica. Only the Utica.
All that togther equals 14500.00 an acre in the last five years and I still have everything between the Utica and Marcellus still unleased along with everything beneath the Utica still unleased.
Iam posting this for all the people contemplating selling their mineral rights here in Greene County PA DONT!!!!!!!!
There worth way more then you will ever get paid for them upfront.

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Permalink Reply by Richard Droske on December 12, 2014 at 8:33am

I am also in Venango, 142 acres leased to Halcon, and very close to the Allam well. Where do you see the results from the Allam well? Last I heard they drilled and just capped.

Permalink Reply by deer spotter on December 13, 2014 at 2:36am

Allam well is not plugged, Well was on 30 day flare test in July 2014. Since than Halcon has started the permitting process to connect the Allam well and the Pilgrim well. However doubt if Halcon has the resources to complete the build out. Could be looking for a JV partner.

Permalink Reply by Nancy LeNau on December 12, 2014 at 3:53pm

rmc,  Would you be willing to share your lawyers name and Tel. # ?   Thank you, Nancy LeNau

Permalink Reply by rmc on December 13, 2014 at 1:47am

Hello Nancy I can give you my present lawyers name and tel# but am not sure if that is allowed on this site. 

My lawyer simply reviews any legal agreements and makes suggestions but with that being said I do know he negotiates for some of his clients.

Maybe you could friend me or maybe Keith will Chime in and say its ok.

Permalink Reply by rmc on December 13, 2014 at 1:54am

Nancy I cant give anyone attorney credit for our first Marcellus lease as it was truly a group effort with input from multiple parties. 

Permalink Reply by Nancy LeNau on December 13, 2014 at 3:05pm

rmc, Thank you, I was just wondering.  A Friend gave me an attorney in W.V., but as yet, I don't need one at this time. Just trying to keep ahead of things. Many Thanks for your reply !   God Bless, Nancy

Permalink Reply by Troy Valesko on July 9, 2015 at 8:18am
Hi i only got 1500.00 an ac on original lease and it was suppose to end this year but they chose to extend at same price !! This is not fair ! People got way more . I dont want to extend . Do i have to ? Can somebody help me?
Permalink Reply by Dexter Green on July 9, 2015 at 2:53pm

"This is not fair ! People got way more."

People who got "way more" signed better deals.  It's as simple as that.  

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on July 10, 2015 at 4:48am

Troy,

     Read your lease closely, some leases have a paragraph that allows a landowner to find a better $/acre rate then allow the owner of the current lease to meet the price or terminate the lease.

If you have that paragraph the lessee will try to pay for the 2nd term hoping you don't read your contract. Some landowners wouldn't sign without that option so you may have lucked out and gotten a decent lease thanks to a neighbor.

Let me know if you need help making this determination.

Permalink Reply by ray schmidt on July 10, 2015 at 1:34pm

did they extend before lease expired? my contract states they can extend for 3 years at same price.btw. i have a.l.o.v. lease signed april of 2011

Permalink Reply by Rich on July 11, 2015 at 3:54am
Troy,
Did you agree to those terms in your original lease?
Permalink Reply by Jeff Kerr on July 11, 2015 at 4:49pm

the maps i see greene co PA is in the sweet spot of the dry utica. now what is a fair price per acre and a fair % on royalties 

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