Can anyone tell me recent amounts of $igning Bonus/Consideration per acre in Tioga County, PA?

I've been offered $500/acre + 15% royalty for a five (5) year lease on two parcels I own in Tioga County, PA. It seems low to me but I don't know the going rate of late and would love to. Can anyone share with me any recent amounts of $igning Bonus/Consideration rates per acre in Tioga County, PA? Thanks in advance.

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Permalink Reply by Monte Zane on October 23, 2014 at 9:31am

Thank you for your good wishes, right back at you! Please know that I am not on my own, I have great legal representation. re: Groups: I don't think it makes sense for us to join a group because our minerals are in Southern Tioga and your groups are not.

Permalink Reply by Darlene Nelson on October 23, 2014 at 11:02am

   New to this and was wondering if being a member of a group has any benefit if you already have a lease. Have land in Jefferson county ohio and would like every advantage I can get when CHK comes to cross creek.

 

 

Permalink Reply by Nancy LeNau on October 23, 2014 at 2:38pm

Welcome Darlene !   I have been on this site for Many years and have learned so very much about making the correct decisions for my future.  Before this site.... I knew Nothing !   You are going to learn so much information it will make your head spin.  I also have met a few people on this site and now we are good friends.  I have been leased about 8 years now.  I am on this site.... every evening !   Please stay and learn.   God Bless.....   Nancy

Permalink Reply by Frank Walker on October 23, 2014 at 9:53am

Peggy

Your's is a good observation.  Certainly it is congruent with ongoing Utica revelations, especially in Northern Tioga.

Were I a gas production company, and given the possibility Northern Tioga Utica shale prospectivity might exceed even that of the Marcellus, I'd be attempting to tie up Northern Tioga land, as much as I could and as quickly as possible, at today's low lease rates and paltry royalty fractions.  When it comes to the Utica, I think the natural gas production companies "smell gas"!!!

Permalink Reply by Victoria Ayers on October 22, 2014 at 10:46am

My brother and I have 140 acres in Richmond Twp., and a guy from SWEPI has been bugging since two weeks before the public announcement  of the Gee/Neal well production numbers to renew a lease that doesn't expire for a year.  He offered, and my bro. accepted, 2/5ths of the original bonus on his share, but I haven't signed yet.  My bro. says everything else about the lease was as in the original, which would be 15% and no share in cleaning the gas at the well head, but I haven't actually seen the document.  The guy is not a great negotiator; his story has changed several times.  First we weren't going to be put into a drilling unit, then two weeks later we were.  He told me I essentially have no choice but to sign because SWEPI owns "half a million acres" and there is no competition.  He also told me others would want to buy my rights (isn't that competition?) so they could charge SWEPI more and make a profit.  Apparently that this was effectively telling me SWEPI could go higher didn't occur to him!  Now it's a limited time offer because they will soon go into some kind of detail negotiations, whatever that means.  I don't know what to do.  I don't want to queer the deal but I don't want to give away an irreplaceable asset either.  I have kids and hope to have grand children.  I'd like to at least be able to contribute to their ongoing welfare.  Should I continue to put him off and go to the landowners meeting in Lawrenceville to see what others are thinking?

Permalink Reply by Peggy A Murray on October 22, 2014 at 1:22pm

I didn't know there was a landowners meeting in Lawrenceville> Where and when? I was also told that Shell held all the land so I would have to accept a lower price.

Permalink Reply by Victoria Ayers on October 22, 2014 at 1:58pm

29th, 6:30 PM, Lawrenceville fire house.

Permalink Reply by Monte Zane on October 23, 2014 at 3:19am
The first rule of negotiations is You have to be willing to walk away and that works for SWEPI, too, I suppose, unless your land is important to them. The Second rule is never take the first offer. Of course, you have to listen to your intuition if you can keep your fears out of it for a second or two. I'm right there with you.
Permalink Reply by Chris on October 24, 2014 at 10:44am
Potter county..brookland pa.near coudersport..10 years ...750 an acre...12.5%...this is too low and too long... Got a good lawyer in Scranton pa
Permalink Reply by Landowner on October 24, 2014 at 12:50pm

Which company was this Chris?

Permalink Reply by Chris on October 25, 2014 at 12:10am

Continental

Permalink Reply by Charles Randolph on October 28, 2014 at 4:23am

Chris, Was this Harold Hamm's Continental Resources out of Oklahoma or some land man outfit going by the name of Continental ?

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