eqt bids $4750 per acre for pittsburgh airport property

http://www.post-gazette.com/stories/business/news/eqt-consol-bid-on...       i think the individual landowners in this area are being low balled right now!

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Permalink Reply by Jason on December 5, 2012 at 7:34am
Couldn't agree more. I'm in Hanover Beaver County. I believe the low figure (and I signed MUCH lower a year ago) is mainly due to lack of infrastructure. Seems like everything is slowly creeping into lower Beaver County.
Permalink Reply by Jelso on December 5, 2012 at 8:34am

EQT bid $4750 but purposely did not include the check that makes their bid valid.  I would not put a lot of credence in that Value.  Consol's bid is much more in line with the present value in the area.

Permalink Reply by Schnoozie on December 5, 2012 at 9:00am

Dont worry the Allegheny County Dems will treat this just like they treated USAIR.

Go look at the terminal where all the crickets are chirping.

I am stunned that any gas company sent in a proposal and would actually deal with these thieves. 

Permalink Reply by Ragnars Repo on December 5, 2012 at 10:27am
So true. USair paid outrageous landing fees at PIT for years. Higher than Laguardia and Boston. If I'm not mistaken they asked for relief and county officials said no. USair leaves and the media and politicians paint them as a big greedy company. Hope the wells make enough to keep them happy or else.
If drilling does occur schoonzie, you will be spot on. That will be the most noise at that airport in years.
Permalink Reply by Schnoozie on December 5, 2012 at 11:11am

It was a really big deal before we moved to Mercer Co. Most do not remember the impact on the school districts in Beaver Co. many employees lived there, the loss of the salaries, the reservation center, mechanics, it was huge. The combined efforts and coordination by the media and local politicians to portray usair as outlandish and greedy and to influence their decision making process is very similar to what we are seeing today with a certain local politician who resembles a Telle-Tubbie and a very specific drilling company. It's without taste and any shred of maturity. Those politicians were nowhere to be found once the company left and all those people lost their jobs. 

They said they would do it...and they did. The similarities are startling. They would have trashed the Cracker plant deal also without a doubt had they had their noses in it.

 

Permalink Reply by Paul Martinelli on December 6, 2012 at 4:25am

I believe Consol's bid is also invalid......they don't have 5 years horizonatl drilling experience.

Permalink Reply by Corvette on December 5, 2012 at 12:28pm

Try living in Jefferson county Ohio. Chesapeake offers $300 an acre. Talk about lowball!!

Permalink Reply by Samuel J. Orr on December 5, 2012 at 5:50pm

The offers by Range are very poor indeed. I do not believe Range is a big player or controls much acreage in Venango County. My guess is that Vista, a driller of conventional vertical wells is sitting in the catbird's seat. They have drilled hundreds of wells in Venango County and are continuing to drill. It is unlikely that the leases which they hold restrict their leasehold interests to the shallower strata. Therefore, they are in a position to enter a joint venture involving  their acreage with SHELL/SWEPI or another large player like XTO. In Mercer County they apparently entered into a joint venture with Shell in which they (Vista) were paid $2000/acre for the rights to the deep gas. Vista is a private company and thus it is impossible to know if they got in addition a percentage over-ride royalty on the deep gas. As recently as December 2011, Vista's standard lease provided a royalty of 12.5% to the landowner/lessor.  I look forward to other posts that agree or disagree with my take on Venango County.

Permalink Reply by Samuel J. Orr on December 6, 2012 at 12:45am

Do you know anything specific about Venango County geology? It is bordered by Butler County, with Butler being just south of Venango! I have 237 acres not far from Mercer County, with Mercer being just east of Venango . Again, I am sure that you know that. I appreciate your posts even though they make prospects of getting a decent lease look rather gloomy! I realize the Marcellus shale is pretty thin where I am, but the Utica looks good.

Permalink Reply by james on December 6, 2012 at 7:41am

Joe, if Venago County is not going to be very good as you suggest, then why is Halcon drilling at least 3 wells, along with shell and Range both only working a few miles away from these sites? I know of at least 6 well sites within 10 miles apart by Range, Shell, and Halcon, doesnt sound like a dead area to me??????

Permalink Reply by Jelso on December 6, 2012 at 8:15am

It's not dead, it's dry.  Someone will lease you in due time.

Permalink Reply by Samuel J. Orr on December 6, 2012 at 9:09am

Jetso: Are you a landowner, a landman,  a geologist or what? I sincerely ask this because I would like someone who really knows the geology of Venango, Crawford, Mercer and Butler Counties. Is there a crrent map that shows the presumptive dividing line between wet gas and dry gas. My property iis in the northwest quadrant of Venango County I have heard that the Range well in Cochranton is quite good. I understood they hit oil As for the gas, I heard the fracking was not complete but that was over a month ago. My property is about 8 miles south of that well and perhaps a mile or two to the east. It is also perhaps 2 miles north of Halcon's Allam well. I include all this on the rare chance that someone knows the geology and how it varies. I have been under the impression that my property is probably close to the dividing line for wet gas or dry gas.. I obviously hope that it is wet gas. As a matter of fact I hope the geologists are wrong and the whole county is wet gas. Best wishes to all for a joyous holiday season. 

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