I say your better off to keep ownership and just lease the acreage .....you are setting on a triple play ...the Marcellus the utica and the upper devonian ....and who knows whats below them ......your acreage has a potential of making 500 to 1000 dollars an acre a month or more.........as my grandfather once said never give up your mineral rights ........you should be able to lease your minerals for an upfront bonus of 3-5ooo dollars an acre ........if you lease I would lease each formation separately and receive bonus money for each formation ......there is a utica well in wileyville producing near 60 million cubic feet of gas a day grossing over 170,000 dollars a day royalties off this well a day are well over 20,000 dollars and this same lease has possiblities in the marcellus and upper devonian formations
beware of flippers too ....those are companies that lease you then turn around and release it for higher bonus and percentage of royalities......lease direct to the main players like EQT or Southwestern .......southwestern just bought 400000 acres from cheasepeak and has big plans for development ........and find you a good oil and gas attorney .......get nodeduction from your royalties .....those mineral rights will reward your family for many years to come ........just remember when you sign on the dotted line that lease is for ever as long as the oil company does it part once you sign your opportunity to get the best deal is over .....also remember that the landman you deal with is nothing more then a salesman looking out for the company he is working for and what he says usually is a twisted truth .....they will tell you anything to get you to sign .....only what is written in your lease is all the oil company has to abide by ....not what the landman said .....understand what your signing ........many people have been takin for a ride in lease deals
there is a utica well in wileyville producing near 60 million cubic feet of gas a day
60 MMcf/day? Who is the operator of that well? That would be better than RRC's well in Washington PA which had an IP of 59 MMcf/day. If true that would now be best gas well in the U.S. and not RRC's well. I agree 100% with your other statements. That 60 MMcf puts your other statements in question. By others!
the well was drilled by chesepeake and is the James Messenger well I was told the production number by a drill bit service man who deals with the oil companies on a daily bases and I dont see any reason he would lie to me THE UTICA IS A MONSTER I am not sure what statement you are in doubt of but it is what it is ........the Messenger well cost over 25 million to drill ....they went throw 24 drill bits to complete the drilling at a bit cost of over 2 million dollars and it has a lateral over 7000 feet long Southwesern energy may own that well now ......they took over 400000 acres from chesepeake in december in southwest pa and northern wv
Good luck getting a no deduction lease without an enhancement clause.....
Southwestern planning for $625 million in southern Marcellus capital spending
Dec 30, 2014, 2:25pm EST
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Natural gas wells in Pennsylvania.
Pittsburgh Business Times
While some natural gas producers in the Marcellus Shale are trimming their 2015 capital budgets, Southwestern Energy Co.(NYSE: SWN) is expanding its drilling program as it plans to tap newly acquired acreage in Pennsylvania and in West Virginia.
All told, the company projects that it will spend $2.6 billion, up from an estimated $2.4 billion this year. At the same time, it said it thinks it will be able to increase gas and oil production by 28 percent over the current 2014 projection.
In its southwestern Marcellus Shale holdings, the company plans to sink 65 to 73 gross wells, with six of those to be located in Washington County. And it plans to spend about $625 million to do so. It said it intends to start the year running one rig and increase to four by year's end.
Southwestern entered the southern Marcellus Shale fields this year by way of a land acquisition from Chesapeake Energy. The deal, which closed Dec. 22, gave Southwestern 413,000 net acres in Washington County and northern West Virginia.
It is also expanding its presence in northeastern Pennsylvania, where it already had been operating, through two additional deals with WPX Energy and Norway's Statoil.
Statoil was a joint venture partner with Chesapeake and had to give its consent to the Chesapeake deal before it could be finalized.
In northeast Pennsylvania, Southwest said it plans to drill between 101 and 108 gross wells, up from 83 this year.
With natural gas futures hovering just above $3 per million British thermal units, now wouldn't seem to be the time to expand a drilling program. But on a call with analysts on Tuesday, Southwestern Chairman and CEO Steve Mueller said he doesn't believe futures prices accurately reflect the market.
Mueller said he believes that there will be new demand coming from industrial growth and from new power generation capacity that uses natural gas as a fuel.
He also said the company has some wiggle room, in part from the approximately 1,100 conventional wells it picked up through the Chesapeake deal. Mueller said those assets don't fit into its portfolio all that well, and the company may sell them in the future.
Do not sell your mineral & gas rights unless you are really desperate for money and are homeless! The production that has been happening in Wetzel County and surrounding counties is only the first phase. Soon, there will be a second phase and later on a third.