Re-Leasing?

Are others hearing from Shell representatives about new, and lower leasing fees?  Ours expires in 13 months and they are talking about $1,000/acre.  The guy left a message on my phone saying he was calling because our lease was coming up for renewal "soon", then corrected himself.  Seems odd timing, what with the Gee/Neal announcement.

Thoughts?

Vicky

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Permalink Reply by Barry D on September 8, 2014 at 1:44pm

Victoria,

First may I offer this suggestion : Post your location, state, county township.

Permalink Reply by Victoria Ayers on September 8, 2014 at 8:38pm

Tioga pa, Richmond Twp

Permalink Reply by Jack Straw on September 9, 2014 at 4:50pm

Hi Victoria,

                  You are in the fortunate situation of having your lease expire in a short 13 months .... after the highly significant announcement of the Shell Utica wells; a relatively short distance to the NW of you.

It will take a little while for the industry to digest this news and to appropriately react.

You have 13 months to access your situation (and the opportunities it might hold).

I suspect that Shell will try to shake loose any and all low hanging fruit.

At this juncture, I would tell Shell that it is too early to consider extending your current lease.

The tricks a Landman uses would make a used car salesman blush.

Please let us know how matters progress.

The extension of the prospective Utica to the east in Tioga County is (in my opinion) the most important thing to happen in PA in 2014.

Good luck to you, we really care and we are rooting for you .... God Bless.

All IMHO,

                  JS 

Permalink Reply by oldrottweler on September 9, 2014 at 1:05pm

The lease on my property ends  the day after tomorrow. I have contacted several companies about  a new lease. Have yet to hear back from any of them.. A friend who has several properties said anything  in the 3000- 5000 per acre is the going rate depending on location in Westmoreland County Pennsylvania

Permalink Reply by me on September 9, 2014 at 1:18pm

My lease expires in about two months.  I'm in Washington Co. PA, Smith Twp in the WV/OH Panhandle area.  Was offered a top lease in January, but Lease holder had first right of refusal and the top leasing company didn't want to get into a bidding war with current lease holder, So I'm stuck for the time being.  Was offered $4000 an acre in January and hoping for at least that in November.  

Permalink Reply by Nancy LeNau on September 10, 2014 at 3:59pm

ALL..... Great Information !    Thank you NEIGHBORS !   Jack Straw.... Thank you again and also for adding the " God Bless ".......

Permalink Reply by Victoria Ayers on September 10, 2014 at 8:49pm

Thanks, folks.  I thought it seemed odd timing compared to the Gee/Neal announcement and now the announcement of the plan for the new Atlantic pipeline they are talking about.  The eastern end of the Utica seems perfectly situated to feed a line running down the east coast.

Permalink Reply by Victoria Ayers on October 4, 2014 at 3:24am

The landman contacted me again, but I haven't talked with him yet.  His second message seemed a little more eager than the first.

Permalink Reply by Charles Randolph on October 4, 2014 at 5:28am

Thanks for your recent posts, Vicky !

Permalink Reply by S S C on October 4, 2014 at 5:12am
Releasing what? The marcellus, the utica, both ?

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