Where in WPa. ? mike?
butler county specifically, but also in general
Like the song says, "Go on, take the money and run."
01.01.2011 = $1500.00 around 02.01.2011 = $2000.00 around 04.01.2011 = $1500.00 around 07.01.2011 = $3000.00 around 09.15.2011 = $3250.00 around 10.25.2011 = $3500.00 it looks like it went up $2000.00 in a year I think it is going in the right way. But who knows? 100+ acre Southern Lawrence
In the dry gas areas, I think it will be quite a while (if ever) before you see any big money being offered. There are three tiers.
I honestly think that hitting big oil in OH was the nail in the coffin for big up front money for all the dry gas areas. NY is about to open up, so is Maryland. We're not the only game in town anymore. PA's impending impact fee & increased environmental regulations have and will significantly increase drilling costs. Companies have been drilling to hold down leases, but even the big boys will slow down significantly at sub $3.50 gas.
I thought they banned Fracking in New York? If so New York might as well be methane gas from a hamster.
It was under a moratorium, which is about to expire.
The outcome will be interesting!
All those other sates already have impact fees, so that won't be a deterent.
Just my opinion but with offers in the oil region of Ohio seemingly topping out @ $5000-6000+ I would seriously contemplate cashing in now. My gut says we're peaking here in the "WET GAS" areas @ close to $4000.
Another thing to consider: I feel relieved to be leased now before the enviromaniacs in the current administration start causing grief. Look at the Obama Politics being played regarding the Keystone Pipeline out west. Any moment now the Feds can start their crap and ruin our chances.
Another thing to consider is getting royalties in your lifetime. The gas isn't going anywhere and they can't produce it all at once....Some say there's 100 years of gas between the Utica and Marcellus plays.......I won't be here that long that's for sure!
Seems the ones getting drilled around here are those who signed first for cheap BUT who's getting royalties first?
The real money will come from the royalties , bonus is just an appetizer.
Another thing that scares me is the economic state of Europa......What happens if they take the big crap? How much is oil going to be worth then.......?
Lots to consider. Time may or may not be on your side.
hey glen - i am thinking the same way about the royalties.- i live in butler county and wonder if they can hold everyone by production - or could there be another round of leasing for those of us who leased a couple years ago. what do you think - seems like alot of work in a short amount of time to tie up most of butler county.
not sure of the date but S. Butler School District has $3750 acre and 18 % royalty and other fees they are getting as well.