MDS Lease Sale

At the end of 2010 and beginning of 2011, there was a joint effort group lease in several Western Pa. counties. Does anyone know how this ended?

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Permalink Reply by Prospector on August 14, 2011 at 11:44am

You can check they're website out under Knapp Aquisitions.  Anyways, I think they are expecting bids to start coming in mid September and the landowners will be paid at the end of the year.  Right now that is all I heard of and I am trying to follow it closely as well.  I think it will be interesting to see how this pans out.  I hope for the best.

 

Permalink Reply by jb379 on August 15, 2011 at 9:29am

Prospector,

 

I was one of the individuals who passed on this project and am wondering if I made a mistake.  On the site you suggested there are updates, but none as of late.  Where did you get your information?  I would like to keep an eye on this to see if it pans out or if it was all a bunch of hype like many other projects that came through the area.  Thanks.

 

JB

Permalink Reply by Prospector on August 16, 2011 at 8:41am

I know what you mean about the site not being updated recently.  I got tired of waiting for the updates, so I just sent them an email and that is the response I got.  I am anxious as well to see how this goes.  Keep me posted if you heard anything else new.

 

Thanks

Permalink Reply by R. East on August 19, 2011 at 5:47am

I heard on the street that they arent getting much interest because the acreage is so scattered. I think its difficult to get a "new" player interested because of the depressed price of NG and the ones already here really dont need additional acreage. I think its best to keep the landowner groups small and somewhat contiguous.  

 

Permalink Reply by jb379 on August 22, 2011 at 1:50am

With all due respect....all of this "on the street" stuff is getting old unless sources get sighted.  If your "on the street" info turns out to be accurate, I will owe you an apology. 

 

JB

Permalink Reply by Prospector on August 22, 2011 at 1:07pm

I can't agree more.  The word on the street is affected by the big O&G companies, as well as people who want to "talk trash" about those same companies.  It is nice to share info from all kinds of people in this play, but the only true "word" will be spoken when the facts come in.  I guess we will just have to wait and see how this one pans out. 

I hope it works out for the good of all the Pennsylvanians involved in this sale and makes them all BIG money.  I like to see our own people getting rich instead of all these other foreign oil countries.

Permalink Reply by R. East on August 23, 2011 at 7:14am
OK OK..im sorry for the "on the street" remark, but, the phrase was utilized to point out that it was infact just a "rumor", like most everything else you read on here. Having said that, It's pretty evident to me, that MDS has not been successful in flipping the acreage. How long have they had this acreage tied up now? A year or more? I feel sorry for the landowners who get their hopes up after signing with flippers. They should form their own group..........
Permalink Reply by jb379 on August 23, 2011 at 9:12am

Sounds like things are happening according to Mr. Knapp.  It seems you have a problem with the "flipping" concept.  I don't mind as long as a company is up front with their intentions.  After all, I understand being part of a large flip is how most of the high dollar figures are obtained (like it or not).  I understand a company not wanting to pay  a lot for a small tract like mine, however, if it takes being part of a large "flip" to get that top dollar, so be it (as long as I can live with the lease terms and the company's coat tails I jump on is reasonable in their cut).  I guess since I took a pass on this particular project, you don't need to feel sorry for me.  

 

JB

Permalink Reply by SBRW on September 19, 2011 at 12:51am
Bump
Permalink Reply by Prospector on September 24, 2011 at 12:42pm

Any news or anything on the MDS Lease Sale?  Still waiting here.....  I know they have until Dec., but I would really really like to hear something soon.  Even if it is that they achieved the minimal bid amount and the landowners will all be paid, or something of the sorts.

 

Thanks.

Permalink Reply by R. East on September 29, 2011 at 8:17am
For fear of getting slammed again for the"I heard on the street " comment I made August 19th (see above) I will refrain from the heresay. I'm sure MDS will soon be contacting the landowers who signed up with them asking them to execute an extension granting them more time.
Permalink Reply by JayWil on September 29, 2011 at 9:05am
Snyder Brothers are still advertising in local papers so the sign up must still be on while waiting for a LARGE buyer. I wouldn't think that any smaller firms would be able to buy all of the acreage.  It should be a multi-BILLION dollar deal, but with the push to Utica and the price per Mcf below $4, I'm wondering if it will actually happen?

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