How Are Low Energy Prices Affecting Leasing and Drilling Activity In Your Area?

It would be nice to get a pulse on recent downturns in energy prices and their affect on landowners in the Marcellus and Utica Shale plays. My lease with Rex is up for renewal in October 2016 , so I haven't heard anything from them yet. My gut is telling me that gas drilling may not be quite so adversely affected as oil drilling. Am I right or am I wrong............?

Please let us know your experience thus far and where you're located. Thanks.

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Permalink Reply by Dan Warner on January 15, 2015 at 7:44pm

I don't know if you'd call it a downturn, but an acquaintance just told me he received a $7K/acre bonus on 12/23/2014. This was a re-lease for a second term, paid a month early.  Tyler Co, WV, Statoil.  I believe this was an initial offer.  I'm not at liberty to give details, but it's within 5 miles of Middlebourne, and within 10 miles of Magnum Hunter's Stewart-Winland, Utica gusher.  This was originally a Chesapeake lease that was never drilled.

A family member had a boiler-plate offer from Antero for $3K/16%, but, with the cutbacks, they (Antero) have fallen silent.  Elk Fork, Tyler Co, WV

Permalink Reply by Dan Warner on January 16, 2015 at 2:48am

Antero just received a permit for another well near the TC fairgrounds yesterday.  Drilling was delayed here while a new bridge was constructed to allow access.  The application was filed in October.

Permalink Reply by Robert Allingham on January 16, 2015 at 8:48am

Trapper, I am with Rex in Butler county, center township, Pa. and Rex appears to still be moving forward in this area. They are working like crazy to get water line r/w's following up with gas line r/w's. The landman told me they will be drilling this area in 640 acre units. It appears they are filling up holes in the proposed unit by offering one of my neighbors a gas/oil lease this month. Don't know the terms or details but Rex has not slowed down here yet. It appears they're just getting started.

Permalink Reply by joe long on January 17, 2015 at 12:11pm

moving forward in this area.greene county

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