Discussing the Marcellus and Utica Shale
Range Resources in New Brighton area
A friend was just approached by a landsman from Range offering him $300 an acre and 14% royalties. Has anyone else been contacted in this area with an offer?
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LandownerPermalink Reply by Jim Litwinowicz on -
300/acre seems awfully low. I bet it is a delay rental agreement at $300/acre/yr for five years which would make it similar to $1500/acre fr a five year lease.....but with a significant difference. As soon as the drill, or "commence" drilling, the delay rentals stop so that you may only get on years payment if they drill the first year.
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