Hey Carp--I just thought there was a certain procedure they were required to follow. I guess not. I'm going to keep digging. If I find out anything useful, I'll put it up here.
If anyone is following EQT, here's an interesting article from West Virginia:
Hard for me to say. I no longer live in Greene County. I'm up in Maine now. Like you, all Iknow is what I can find on line and through other discussions like this. Finding out what is happening is like reading tea leaves. There are a couple of other web site that can give you information:
The first one you've probably seen. It takes you to the Greene County Recorder's Office. The second one is a discussion forum like this one, but it has been around longer.
Have you ever spoke to a mineral fund about selling your fractional interest? I know most people are usually not in favor of it but there's a reason why astute oil and gas investors in the Marcellus are selling off left and right. There are some very good companies currently buying in PA - one of them being Pikewood Energy. Food for thought.
If "astute" investors are selling off left and right why is Pikewood Energy (and about 100 other companies like Pikewood) buying? I'm pretty sure it isn't from the goodness of their own hearts.
I am finding even fractional interests bring in a good chunk of change. Not life changing but awesome padding.
I considered selling my O&G rights last year. Contacted a couple of companies, but ultimately decided to wait until December of this year and then consider it again. There were a couple of reasons I didn't sell. First was the most up front reason: I wasn't offered as much as I wanted/needed to get. How much is that? Enough to invest in commercial property here in Maine or back in PA. The other reason is that I don't think the playing field is level for sellers. I found the people I dealt with to be pretty honest and straight forward, but what I did find out is that the market for O&G rights is a small world and the buyers/brokers are all in touch with one another. The implicit, and sometimes explicit, fact is that they (brokers/buyers) really dislike it when you shop your rights around, looking for the best deal. They want you to state how much you want, and then they'll try their best get you to accept less. I understand buy low, sell high, but this, of course, is not at all how one handles a property transaction. Unfortunately, the system seems to be designed for the ignorant and desperate. I'm in neither category, yet.
Appreciate your opinions and to some degree you have a lot of valid points. However, I believe divesting is a personal financial decision that needs to be made by the Seller in their own unique situation. Many will argue it's not wise, others will say 'live for the moment'. There's really no 'right' or 'wrong' answer. Look, there's no doubt the long-term potential outweighs any short-term "sellout" however the variables of economics are too hard to predict (well control, price of gas, consolidations, etc). The list goes on and on. You can certainly sell off a specific zone if wanted. Point being is this: What's a mineral owner to do when A) they can't lease due to Operations in effect B) No specific time frame for production to occur C) they receive an offer that is upwards of $6500-$8k/acre?
Obviously, for some, whether you need the money or not, the lump sum at the lower tax rate looks attractive. It is what it is. Whether it's smart or not is ultimately up to them (the mineral owner) to decide. At the end of the day, it's a business for the mineral funds. Of course they're in it for long-term profit but then again, what company in any industry isn't? Furthermore, there are actually a few good funds out there (like Pikewood) that do the buying process in a stress-free, no pressure environment. If it's coming into your home via mail, throw it away. Why would anyone in today's age answer a solicitation on a post card that's been sent to thousands of people in the same vicinity? That seems lazy to me and it doesn't make any seller feel 'unique'.
Lastly, I wasn't suggesting Mr. Lindstrom sell but rather simply asked him if he ever spoke to a fund like Pikewood about selling. Most don't know the process and never look at the idea again once they throw that postcard away.
RGB, we appreciate your comments as just that, comments. As Old Timer points out WV and many others from neighboring stars have been hit with negative results from separation. The great state of WV was robbed, raped and devastated from coal barons, the timber industry and now oil and gas Astutes as you call them. As I State and still believe if these so called Astutes would offer your $6500.00 to $8000.00 an acre per play then that’s a different playing field, you know that I know that and so do the Astutee’s . Cheers to you as well.