Range

I understand that R Resources leased PA Gamelands or maybe state forest, which neighbors a few props off rte 6 and shin hollow.   $4000 Bonus and another $4000 = $8000.  Not sure what the royalties had been.

 

Bob

Views: 4895

▶ Reply to This

Replies to This Discussion

Permalink Reply by Jim Litwinowicz on August 29, 2012 at 3:22am

James; companies that leased years ago like Atlas or Vista had no idea that deep shales would ever be productive and certainly not the huge numbers that they are producing now. So don't be angry with them. If you bought some land twenty years ago and just recently found gold, would you look up the previous owner and give them half?  You got $200/mo for quite a few years...maybe decades....most people never got a dime. And you will still get substantial royalties when horizontal wells are drilled.

Range certainly took advantage of what they knew before word got out about the Marcellus. They took a huge financial risk by being the first and they made sure it paid of big time. If they hadn't taken that risk, no one would be getting the monies they are now. Or at the least, things would be way less developed than they are now if some other company took the first risk years later.

Everyone needs to be very careful with all O & G companies, just as they need to be careful with contractors, insurance companies, credit card companies and every other commercial entity.

Very sorry to hear about your father's passing. Mine passed away ten years ago and I think of him every day.

3uq96odaochmjPermalink Reply by 3uq96odaochmj on August 29, 2012 at 5:37am

Yes, Range was still paying $5-$15 per acre in northern Washington County in 2006-2007.  They definately knew what they were on to at that time, and were desparately trying to keep things hush-hush.  Do a Google search on William A. Zagorski - Range's VP of Appalachian Geology.  Smart guy.  As for wells drilled years / decades ago only targeting the "shallow" formations - geologists were aware of the "deeper" shales - Rhinestreet, Marcellus, Utica - but primarily for as being source rocks, not potential producing reservoirs, and had no idea as to how/why to get them to produce.  Ever hear of the Eastern Gas Shale Project?  It was a consortium of DOE, PA-OH-NY-WV Geologic Surveys back in the late 1970's / early 1980's to try and figure out how to get these deeper shales to produce.  After spending tens of millions of dollars, drilling about a dozen wells & fracing them with the best known technology at that time, DOE and the Geologic Surveys basically said that you can't get a fart of gas production from them.

Permalink Reply by Schnoozie on August 29, 2012 at 7:36am

Jasper Pijamas, again you make many assertions that sound interesting, none of which are based on fact or direct evidence. So they are all garbage. I am suprised you did not use the word "cuz" in here somewhere. It may have disguized your writing pattern a little better.

Slam..cry...slam...cry.

 

3uq96odaochmjPermalink Reply by 3uq96odaochmj on August 29, 2012 at 7:41am

"none of which are based on fact or direct evidence"...............huh..............OK..............so, how should I present any "evidence or fact" when all of this is coming out of someone's mouth who has worked for 25+ years in Pennsylvania's oil and gas industry?

 

slam.....whine......cry......boo hoo!

Permalink Reply by Schnoozie on August 29, 2012 at 8:19am

Are you saying you work in the oil and gas industry??? Thats an even bigger leap than any one of the claims in your phony posts. How would you know how much money Vista made on anything they ever had enything to do with, Vista has a whole bunch of wells around Lake Wilhelm, I also have personal friends who have Vista Wells, no one ever said anything about a change in their checks. Same goes with the other guy you talked about, you have no inside knowlege of anything you are talking about. This is outrageous.

Permalink Reply by james on August 29, 2012 at 9:14am

Schnoozie, my brothers farm is only a few miles from Lake Wilhelm, I never said Vista sold out to anyone, all I said is he was told that Vista sold the deep rights for $750 million(malcellus Utica rights) I dont know if this is a rumor or truth? Doesnt mean his gas well checks will ever change names, I have a property that has an Atlas well on it and they were bought out by Chevron and my gas checks still come as Atlas checks?? I still dont think its right for Vista or any other company to sell rights to something they never paid anything for, they should have to pay all landowners 1/8 of the amount they sold these rights for, just like all of the old contracts say, 1/8 interest.

3uq96odaochmjPermalink Reply by 3uq96odaochmj on August 29, 2012 at 9:23am

I never said a word with regards to Vista.  I was commenting on McIntire Coal, Oil, & Gas.  See the post by James partridege below, you silly broad.

Permalink Reply by Schnoozie on August 30, 2012 at 2:47am

"Silly Broad??", You're serious??

Ok... Jasper "Andrew Dice Clay" Pijama Pants Johnson.

Please explain how someone with 25 years experience in Oil and Gas, who lives here in Western Pa. actually has the free time to complain so bitterly on a public message board. Why are you not participating in the wealth of new science and enthuisiasim that is right now.. in our back yard. As I see it someone with that level of experience should have been part of something bigger by now.

Here's my translation. Beacuse you are so bitter and pointed with your targets here, the problem is...you. 

3uq96odaochmjPermalink Reply by 3uq96odaochmj on August 29, 2012 at 7:42am

Go look it up yourself on google and tyep in "Eastern Shale Gas Studies, DOE".

Permalink Reply by chris on August 28, 2012 at 6:22pm

I apologize in advance for the topic of my discussion  -- chill out everyone

 

I have not leased yet...  A lot of discussions about 640 ac units and forced pooling.  Is there a map or survey that will highlight what pool you may be in if you are pooled.   I am surrounded by smaller parcels and border game lands.   I also have a line through my prop and another scheduled to be trenched in the next few months.  To belong to a pool means all of your neighbors are commited, or most of them, correct?  oR IN ORDER TO JOIN A LANDOWNER GROUP, THEY HAVE TO BE NEIGHBORS, CORRECT?

Permalink Reply by GEOMAN on August 29, 2012 at 6:05am

Bob, you would have been approached for a lease prior to be force pooled.  Generally, force pooling occurs to leases that are unwilling to lease their lands for a fair and honest price.  What is fair and honest is constantly changing and up for debate.  But in general, you should of been notified if there wa a force pooling effort of your lease. 

As for looking up drilling units, you may search the DEP website for permitted wells in your area.  They should have a plat map that shows that identifies the leases within the drilling unit.

Permalink Reply by Jack Straw on August 29, 2012 at 9:19am

For the Marcellus - in PA there is NO forced pooling.

Doubtless, the O&G Industry would like to have the ability to force landowners into pools - but that is not yet the case.

I understand that in PA, the O&G Industry are lobbying for forced pooling for the Marcellus  - but that is not yet the case.

Some day (perhaps soon) there may be forced pooling for the Marcellus  - but that is not yet the case.

Currently, in PA, to be in a pool (unit) for the Marcellus (or any formation above the Marcellus) there has to be language within the lease permitting such pooling.

Never sign a lease without understanding every aspect of that lease.

Never sign a lease unless and until it has been reviewed by an Attorney with O&G experience - an Attorney who is looking after your interests.

 

All IMHO,

                 JS

 

JS

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service