VENANGO COUNTY

Recent offers are at 3500/19% in parts of the county I here.  Tri county landowners is one that is offering.  Also Adapt Energy is 3400/18%   I think this is great news for us!

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Permalink Reply by jeremy on March 2, 2012 at 11:39am

  Which part of the county are they looking at.  Do you know if they are just leasing to flip it.

Permalink Reply by matthew h mcsparren on March 3, 2012 at 7:07am

Tri county is a lease flipper, do not know about Adapt Energy.

Permalink Reply by Jim Litwinowicz on March 2, 2012 at 12:53pm

Those are pretty good offers. Seems Venango is becoming quite popular all of a sudden.  All that seismic work done last summer must have gotten really good results.

Permalink Reply by Alan Pavlik on March 4, 2012 at 2:13am

I'm thinking the Seneca Resources well may have been positive as far as the core test. I understand they are still leasing which tells me they are happy otherwise you would stop leasing if the results were poor.

Of course they still have to complete and produce the well, that is the true evalulator!

Permalink Reply by Dave on March 2, 2012 at 5:06pm

who have they paid?

is there a surrender clause in the lease

one thing to promise another to deliver

name one person that has been paid in venango(not including the chosen few from shell) anywhere north of 2k sorry just don't believe and trust me I want to!!!!

2s72s0k9mm8gdPermalink Reply by 2s72s0k9mm8gd on March 3, 2012 at 7:27am

What parts of Venango County ?

Maybe someone smells oil.......?

Is Shell done leasing there?

Permalink Reply by matthew h mcsparren on March 3, 2012 at 7:48am

Seems to be intrest in Cranberry township

Permalink Reply by Jim Litwinowicz on March 3, 2012 at 7:53am

Its not just Cranberry Twn....much of the county is getting serious attention

Permalink Reply by matthew h mcsparren on March 3, 2012 at 8:04am

Who is showing the intrest?

Permalink Reply by Jim Litwinowicz on March 3, 2012 at 8:15am

There are several companies.  The response at the NAPE expo was very good.

http://www.napeexpo.com/

Love their motto...."Billions of Dollars Looking for Deals"

Permalink Reply by RichR on March 3, 2012 at 7:27am

There is much more to a lease than $$.  You had better go through the proposed lease with a good oil and gas attorney and a fine tooth comb.  The leases are not written with your best interests in mind.

Jim ShoosPermalink Reply by Jim Shoos on March 3, 2012 at 10:30am

Accurately stated, there is far more to a lease than the upfront lease bonus, however, I would dispute the notion that "leases are not written with the best interests of lessors in mind".  I am not speaking to the various lease forms that you might encounter from some of the Mom and Pop operators but virtually every experienced Marcellus/Utica operator knows that they are in competition with each other and that they are generally dealing with individual landowners or landowner coalition groups that are highly educated with respect to what should and should not be in leases.  Additionally, companies abhor having to deal with a multitude of varying lease forms... they are hard to administer and thus they try to craft a lease form that will be well received by landowners and not subject to having a variety of special addendum or amendments.  In short, it isn't as adversarial of a process as you portray it to be.

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