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 petej on February 14, 2012 at 2:06pm

 I'm in northeast Mercer County Dave. Just wondered how your meeting went.

Permalink Reply by David L Marshall Jr on February 14, 2012 at 3:20pm

 Jeff,

        The offer was $ 2500.00 and 15 % - I did-not sign !!!!!!!!!!!  Thanks Dave................

Permalink Reply by randall gottus on February 14, 2012 at 4:21pm

Dave...good decision. Last month when I spoke with the people from Shell, they stated that they will be returning back to Venango county around  June or July of this year. They had to return back to northern butler county and do one more quick final sweep there. I think that Shell has a better reputation than the Caffey Group has.

Permalink Reply by Dave on February 14, 2012 at 4:27pm

I will be very suprised to see them back north.

They told a friend of mine in slippery rock(Butler co) they are not interested in his 18 acres after they leased the surrounding 700 acres adjoining him, that was this friday.

 he had a signed and notarized lease...........

Permalink Reply by randall gottus on February 15, 2012 at 3:56pm

...Dave, as I stated yesterday regarding Shell last month telling me: "one more quick final sweep in northern butler county" must be true then. But I am not sure if they will return to Venango county earlier that what they stated to me, or they may never return to Venango county. I don't know. I am just saying what they told me when I spoke with them early January.

Permalink Reply by Dave on February 15, 2012 at 4:28pm

randall

you signed with shell before the collaspe in venango?

Permalink Reply by randall gottus on February 18, 2012 at 5:26pm

Dave...no, I have signed up with them on my parcel in Butler county, but not in Venango county yet. I am hoping that the information is correct and they return to Venango county this summer.

Permalink Reply by Jim Litwinowicz on February 14, 2012 at 3:34pm

Did you get a copy of the lease? What addendum did they offer?  There is much more to a good lease than just the bonus money/royalty rate.

Did he tell you who they were working for? Always good to know just what company you are signing with.

Permalink Reply by petej on February 14, 2012 at 4:24pm

David, thanks for the quick response.

Sounds a bit low and I think it was a good decision ( Yes, I know the Caffey Group is probably looking to flip ). However, here in our neck of the woods there is limited information to build on as to what terms we should be looking for. To complicate things ( from my "limited" research ), the marcellus layer thins out in this area ( 0-50 feet ) and the Utica while thicker ( 250 -300 ft ) is deeper ( ~ 6,000 ft below sea level ) and relatively unknown as to what will be there. In my opinion, I think we should be looking more at the Utica potential in this area or both depending on where you are. Would greatly welcome opinions! Thanks.

 

Permalink Reply by David L Marshall Jr on February 14, 2012 at 4:58pm

 Thanks to all,

                         The lease left alot to be desired . They wanted from ground to the middle of the earth , just did-not like what I was reading . Also would not tell me who they were working for .                      

            I also talked to Mr Moorehead from Shell and was told that they would be back in the area  in March or April  2012 .

            It is going to have to be a good lease for me to sign  ( The bonus money / royalty rate is not every thing )

            I am not long for this world but my children and their children will be ! So I hope I can do the best I can for them !!!!!!!!!!

          Thanks Dave................

Permalink Reply by petej on February 14, 2012 at 5:24pm

Love your thinking and I'm on the same page. Please don't stop sharing!

Permalink Reply by petej on February 14, 2012 at 4:48pm

Jim, we are going to a meeting wed in Clarks Mills ( Mercer County State Bank, CPA, Lawyer, Geoligist ) and then to the CX-Energy meeting on Thursday in Stoneboro and be reping 8 landowners. The key here is we have approx. 140 unleased acres and are surrounded by minimum ~ 2,000 HBP acres. My question is are we in a really good position or really bad position. We are surrounded by Vista, Range and Atlas.

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