RICE Energy lease offer to Lease Wayne TWP/Greene County

Got an offer from Rice Energy to Lease Wayne Twp Greene County, which I am sure is motivated by their acquiring of bankrupt Alpha Leases.  Anyone else getting offers from Rice?  Anyone know if they actually did acquire the 27,000 acres of Alpha leases?

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Mike MurphyPermalink Reply by Mike Murphy on May 11, 2016 at 5:22pm

just remember u are on a triple play the Upper Devonian, Marcellus and the Utica so you should lease each one separately and receive leases and bonuses on each one and reserve deeper strata for later leasing......as far as I know the deal with Alpha is a done deal

Permalink Reply by Paul Butler on May 11, 2016 at 11:46pm

The Rice purchase is not a done deal.

The minerals are to be auctioned and the auction has yet to be held.

The Staling Horse bid provides a floor for bids and guarantees Rice $3.5 million if Rice bid doesn't win auction.  Check that number, I haven't had my coffee yet and that's off the top of my head.

Anyone that wants to follow the Alpha bankruptcy can do so at this link:

http://www.kccllc.net/alpharestructuring/document/list/4084

The whole thing stinks.

Permalink Reply by Guy Smith on May 12, 2016 at 2:49am

Thanks for the Info Mike Murphy. But Have you or Anyone actually gotten bonuses on THREE "Plays" Depths??

Mike MurphyPermalink Reply by Mike Murphy on May 12, 2016 at 6:47am

no but there have been leases wrote for only one formation and the others excluded for future leasing .....and I am sure there are landowners that have more then one lease on there acreage if you get a good lawyer you should bring up leasing each formation separately and see what he says

Permalink Reply by G.H. on May 12, 2016 at 10:10am

You will likely get less of a bonus if you lease only one formation, but, if one or both of the other formations become big deals in your area then you may very well come out on top by leasing them separately.  Some producers may say they want it all or nothing, I don't know.

Permalink Reply by Joseph-Ohio on May 12, 2016 at 11:03am

Thinking you've got a pretty good handle on it G.H.

Especially the 'I don't know' part.

I don't know how these guys are going to play any of it either G.H.

I don't think anyone does as far as all of this stuff goes really ! !

All we can do is guess !

How could we 'know' anything for sure (as we're all on the 'outside of the info. loop') ? ?.

Good luck to all of us neighbor - North, South, East & West.

Permalink Reply by Lynn mudder on May 12, 2016 at 4:34pm
So far, we have been paid for two separate formations. A few years ago the Marcellus, more recently the Utica. We still have reserved the rest. Hopefully someday our kids or grandkids will be able to profit from those. Everything is negotiable, if not, just walk away, it will still be there.
Permalink Reply by bootmud on May 12, 2016 at 5:01pm

Lynn did the same company lease your Utica that leased your Marcellus?

Permalink Reply by Lynn mudder on May 13, 2016 at 8:31am
Yes, they did. These negotiations don't happen overnight. It's a long and tedious process. I'm not talking days or weeks. More likely many months of give and take. That's ok, only one chance to get it right, then you have to abide and live with it. If not, walk away.
Permalink Reply by rmc on May 14, 2016 at 1:43am
I have three serperate leases on my property in Greene county with three different companies.
Permalink Reply by Lynn mudder on May 14, 2016 at 3:25am
Good for you but would hate dealing with 3 companies. One is bad enough.
Permalink Reply by Debra Lynn Pennell on May 20, 2016 at 10:39am

Any advice for me? I have been leased for 3 years and nothing yet. Or so they say. It's hard when you don't live on the land and have to rely on what others say. Hard to know who to trust or believe. Especially when you live out of state.Could it be possible they are taking oil right out from under the parcels and not telling you?

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