Range Resources Leasing Activity and Areas of Interest

Rich and Brad posted in the comments section regarding Range's leasing interest in Independence and Hopewell TWP's and I have heard of Range's interest in land in western Hanover TWP which is currently under a Chesapeake lease.

Any other news regarding Range's leasing activity and areas of interest?

Thanks,

Todd

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Replies to This Discussion

Permalink Reply by Gary on August 6, 2014 at 8:15pm

Charles here are the guys I used they have done a lot of leases in our area..
http://www.shaleattorneys.com/Default.aspx

I signed in Sept $2,250.00 and 17% no deductions pugh clause for 33% (50 acres) of my land..the other 2/3 rds goes back to be renegotiated at end of term..5 yrs it expires with no renewal... Green Twshp. I was told that RRC will be in my area in about 2 yrs. (2016). I would talk to an attorney before you sign ..you have time...Did you have the seismic done?..

Permalink Reply by Nancy LeNau on August 6, 2014 at 10:11pm

Yes Gary, I was told drilling would be started in Fall of 2016.  We shall see. ?  Also Range.  Information came from a good source.  ( I hope )   Keep a close eye on what Todd tells us.   His information has been Great !  

Permalink Reply by Todd on August 7, 2014 at 12:17pm

Gary,

Did Range indicate if they are interested in drilling your wet Marcellus and Upper Devonian Shales (more specifically the Burkett) there in Greene TWP?  Also, do you know about how many acres Range has leased in your township?

I wouldn't imagine that Range is after your dry Utica; they are all in on the wet gas.

Thanks, Todd

Permalink Reply by Gary on August 8, 2014 at 12:06pm

Todd they didn't give any details as to their plans..when I signed about a thousand acres in Green that I am aware of..

Permalink Reply by Todd on August 8, 2014 at 9:19pm
Gary,

Thanks for the info. Is that 1000 acres in the western, central or eastern part of Greene TWP? Or, is it distributed throughout the township?

Thanks, Todd
Permalink Reply by Nancy LeNau on August 8, 2014 at 9:51pm

Gary and Todd, My neighbor came to my farm a few days ago. She is on the Planning Commity in Greene Township. She is the one that said Range would be drilling in the Fall of 2016.  I will call her and find out who she got this information from.  

Permalink Reply by Todd on August 8, 2014 at 10:15pm

Thanks Nancy,

I was just looking at the Beaver County recorder of deeds site and Range has several thousand acres in Hanover TWP and well over a thousand acres (I didn't count the number) in Greene TWP so far.  Good news is that Range is signing many leases this year in both townships.

However, I can't get Range to step over the line into Hancock!

Permalink Reply by Charles on July 21, 2014 at 10:29am

Thanks to all for the great info, working with lawyer, Chuck

Permalink Reply by Mike on July 28, 2014 at 8:49pm
I know it's hard to gather information, so people's opinions can sometime help. In reading lots of info on our area of souther Beaver County, consol energy, the Pittsburgh Airport and of course Dutch Shell... There is stacked plays, and great gas, possibly one of the biggest wells in Hanover when numbers are reported / gather lines operating.
The signing bonus should be at least $ 1000 higher per acre. Things have been changing so fast in last 5 years, the next 5 will probably have much of this area HBP. My Opinion is these leases signing now might not get another chance. I don' t know if I will ever get another chance, but where the numbers stand now, I would not sign early, unless they were very generous with the $'s.
Permalink Reply by Jason on July 29, 2014 at 12:25am
Mike, I couldn't agree more. Things are very quiet right now unfortunately. For those of us (me included) who have seen the reports from Range, Consol and others about the amount of gas per square mile, we are a very sweet spot. Not to mention that Noss well in eastern Hanover Twp Beaver County that is one of, if not the best Range well drilled. They've kept a tight lid on that well information.

I was blessed to sign for $3k/17 gross 2.5 years ago. I'm unsure if I'll be HBP by 2017. But while I may very well get another lease I would hold out for no less than $3k or more and no less than 17 percent gross. But every situation is different.

And always bounce ideas off those of us on this sight. There's safety in numbers and almost always a good answer to any question.
Permalink Reply by Charles on August 2, 2014 at 9:00am

Jason my name is Chuck and I'm in process of getting my lease renew, I have asked for gross on the 17% offered and they will give me 17% gross at the well head but not at the selling end - is this what you got?  Is gross at the well head a bad deal? 

Permalink Reply by Todd on August 4, 2014 at 10:45pm
Chuck,

Here's my recommendations:

1) Make them wait - don't be in a hurry to sign.

2) A horizontal Pugh Clause is more important than your royalty.

3) WV mandates the market price to be paid unless the lease specifically lists and states the deductions that will be made. WV is a "first marketable product" state. So, there is precedent in close proximity that you should obtain a true gross royalty at the point of sale.

4) I would be asking for $5,000 per acre up front bonus payment.

Todd

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