Caffey Group

Good Day To All:

                            I am new to this sight and would like to know some information !  I own 25 acres on Route # 428 in Sugarcreek  , Venango county , I am 2.4 miles from the Carter farm ( first  Marcellus well )  . Last week I was contacted by phone and talked to Mr Mike Parson from  The Caffey Group , he was interested in a lease on the property said I had no leases on the property at this time !  Fast forward to today and just got a call from Mr Mike Parson and wants to meet me tomorrow at my home ( he is in Franklin ) !!!!!  Has any one else had dealings with the Caffey Group or have been contacted ?  I thank You for your time .  Thanks Dave.............

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Permalink Reply by eric jenson on February 8, 2012 at 8:42pm

Myself i have not had any dealings with this group.  But if you agree to a price (hope it is at least 3200.00/15%)  make sure you do your homework.  Ask for some references also see what kind of cash flow they have.  This is Range resource area!  With the small amount of acreage (25) try to stay in a unit.  Talk with you neighbors  Good Luck!

Permalink Reply by Jim Litwinowicz on February 8, 2012 at 9:42pm

I was in Sugar Creek today talking to landowners.

Caffey is from Texas and they seem to be a company that either flips leases or is  contracted by a company to aggregate land.  They are active right now in both Venango and Mercer Co. Their offers have been low from what I have seen.  Haven't seen a copy of the lease they are offering...not sure anyone has yet.  Ask for a copy of the lease with all addendum to see what they are offering.

Permalink Reply by marilyn ascani on February 9, 2012 at 9:33am

I had heard in the Barnett Shale that this group has massive lawsuits against them for not paying claims.  I dont know the particulars but be careful to check their background on selling anything to them until you research their history in the barnett. 

Permalink Reply by robert vepich on February 9, 2012 at 12:53pm

i also saw that, and have heard from some people that they are awfully close to being late or not paying some more leases up here in PA...be careful, don't want to get locked in for 120 business days and get nothing in return.  

Permalink Reply by eric jenson on February 15, 2012 at 2:03pm

If you look hard enough you will see that just about all groups, drillers,etc.  Have some sort of lawsuit put at them.  Dont think for a miniute that SWEPI, Range, Chevron wont be doing the flip thing!  Venango county is in the early stage. This is a ten,twenty,thirty year process. A large part of us who sign with a compay,group now, does not mean they will be the ones doing the drilling.  Just look at Eastern pa. and Ohio.  It will all look so diferent when the time comes.  Just my thought...At this point Caffey may be the big player!  Just a little low on the offers at this time.  But, if they are buying for RAM who is BHP who is HALCON. (who just may be Flyod Wilson) My guess is they will be the big player here in Venango County time will tell.  Good Luck to all!!!!!!!!

Permalink Reply by Schnoozie on February 15, 2012 at 2:54pm

Is $2,500.00 per acre "just a little low" or "low from what I have seen"??

 

 

Permalink Reply by matthew h mcsparren on February 15, 2012 at 5:57pm

I agree only I  think Wilson is the money man.

Permalink Reply by Mmmarkkk on February 16, 2012 at 4:00pm

Clarification:  RAM is HALCON but HALCON is not BHP!

BHP bought Petrohawk, which was run by Floyd Wilson.

Now, Floyd Wilson has taken his money and bought RAM and reverse merged it into HALCON.  No connection to BHP.

 

Just like if I sold you a Chevy Truck and then turned around and used the money you payed me to buy a Ford Truck.  You don't own my Ford Truck.

Permalink Reply by matthew h mcsparren on February 16, 2012 at 4:20pm

Your are correct, sorry i missed where Eric said BHP is  Halcon. BHP is an Australian co. that bought out Petohawk for 15 billion dollars. Petrohawk was Wilsons co. lots of cash to invest in a NG liquid play ?

Permalink Reply by Midge on February 17, 2012 at 5:52am

love the example.

Permalink Reply by David L Marshall Jr on February 9, 2012 at 3:44pm

 Thank You !!!!!!!!!!!

Permalink Reply by Schnoozie on February 9, 2012 at 4:18pm

Another neighbor over here gets a letter and phone call, but no offer in the letter.

Called it Utica Parcel??

I wonder if the other, and "special in their own way", layers of the earth feel slighted.

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