Replies to This Discussion

Permalink Reply by Jon on January 22, 2014 at 7:31pm

So it sounds like they overpaid for stuff and their revenue is way down for the year. how that's pertinent to us ......... who knows. it might be why they aren't doing anything. then again it could be something else. whatever happened to the cracker plant they're building here?

Permalink Reply by Philip Thackray on January 23, 2014 at 7:48am

Keith, FMV,

Keith could move the SWEPI stuff to the SWEPI discussion that I started in Oct 27, 13.

Phil

Permalink Reply by cheliped on January 21, 2014 at 7:34pm

what township are you in mark alters?  Did not know Range was interested in Butler county.

Permalink Reply by FairMktValue on January 22, 2014 at 4:25pm

Yes, Range via Huntley and Huntley has been working Southern Middlesex and Clinton twps for a while now. Have a well -Goldshletter- in Clinton I believe. 

Permalink Reply by Philip Thackray on January 21, 2014 at 6:27pm

Peter Williams,

There are three golf courses in Penn Township.  But all three are more in the Rex area than in the XTO area.

Phil

Permalink Reply by Oliver Perry on January 21, 2014 at 6:35pm

Mark,

I don't believe Swepi is leasing in Butler County at the present time. Southeast Land Services does all of Swepi's leasing, and the email address I have for them is below. Good luck but don't be surprised if they don't reply back.

southeast.lease@gmail.com

Here are the phone numbers Phil is referring to:

The phone number for the Swepi office in Butler is 724-256-9259.

You can also try the Shell Appalachia Call Center:

Joe Minnitte

Case Manager

877-842-7308

E-mail: Appalachia@shell.com

Permalink Reply by Misty on February 5, 2014 at 9:00am

I just got a offer from R.E. Gas Development, LLC (a subsidiary of Rex Energy) for $2500.00 a acre with a 15% royalty, a no surface lease in Northern Butler County, West Sunbury, PA area. 

Permalink Reply by LewPa on February 5, 2014 at 9:21am

Misty

You definitely want a no deductions clause in that 15% royalty. Amy Molloy at S R Law in Slippery Rock is very good and has a lot of experience in OG leases if you don't have a lawyer. You should really have a lawyer. Good luck and stick to your guns!  LewPa

Permalink Reply by Misty on February 5, 2014 at 3:11pm

Thank you LewPA,  We have only .46 acre of land so we wouldn't be paid much.  I don't think we would get much if anything in royalties either if anything.  Our concern is most of the neighbors around us are under a lease with Shell.  Shell offered us $1000.00 a acre and we turned them down.  The only reason we are considering this lease is because they are offering a bigger bonus and we are concerned that our land could be pooled in the future and end up with nothing.  Thanks for the lawyer advice.  I really don't want to spend $250.00 a hour to review a lease when it's for very little money.  I could see it if we had acres of land.

Permalink Reply by Oliver Perry on February 5, 2014 at 6:38pm

Misty,

It is very interesting that REX has offered you a lease if you are surrounded by Swepi leased land. The rumors that Swepi might be selling leases to REX could very well be true and that would be great news for northern Butler County. 

I understand your reluctance in spending $250 for an attorney considering your small plot of land. After taxes and attorney fees you would be left with very little. But I think it would be worth it to make sure you and your land are protected for the life of the lease which could be decades long. Something to think about. Good luck to you.

Permalink Reply by Misty on February 5, 2014 at 7:19pm

I have a mortgage on my property.  I was reading that people with mortgages should be getting permission from their banks.  I called my bank and they told me to email them  the information the landman sent as they have to approve it.  They told me if I signed a gas/oil lease and the gas company can't drill they will charge me for the money they spent.  Anyway, the bank is looking over it. I read that most people don't know they are supposed to ask the bank.  I'm not in any hurry anyway.

Permalink Reply by Jon on February 5, 2014 at 9:20pm

It should only take $50/ less than an hour of work initially for an attorney. You don't have very much bargaining power with such a small piece of land though so they might not accept a revised lease.

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