FIVE DAYS AHEAD OF SCHEDULE, The Rice Energy Company of Cannonsburg, Pa paid out 100 million in lease bonus payments tonight at Ohio University Eastern Gymnasium to SG members. Over the next four days, SG members who's land has cleared title can expect calls from the company as to when and where they can pick up their checks. SG MEMBERS, PLEASE DO NOT CALL THE RICE OFFICE, they will call you if your payment is ready.
CONGRATS to all Rice Employees, the SG Committee, and most importantly the SG community for making this a reality!.
$6250 x 40000 =$250,000,000
What are you getting at Jay?
Where were SG members misrepresenting other group/company/leases ?
Rice took everyone in S-G who has clear title and gave those who didn't a generous amount of time to correct title if it can be done.
Might it be to develop the 38,000 acres they have leased. I have no Idea what your trying to say with the last sentence.
Let’s not forget that SG membership was closed to neighbors, yet those excluded neighbors’ legitmate offers directly from just as good drillers, if not better, were attacked. WHY?
Where did you get the idea that the S-G deal was closed to neighbors? Unless they were outside Belmont County, this is not so. Any Belmont landowner was welcome in S-G up to the point where the offer was made and he group was closed. Prior to that, there was no obligation to participate in S-G and any Belmont landowner could have been in on the S-G Rice offer by just showing up, no strings attached. At the time of the offer, any S-G participant could walk away, no strings attached, nothing owed.There was no reason NOT to sign onto S-G, even if you were exploring other options all along.
I don't think Rice got 40000a, it would be a surprise if they have 10000a.
I saw their deal, does anyone really think they were going to pay $1000 per for what they didn't want. The offer for $1000 was a dummy deal, wonder what SG gave up for those lines of manure.
I have not heard from anyone that got paid.
As long as the group cleared X amount of acres everyone gets paid, or Rice had to pay $1,000 per acre to every one in the group if they didn't take us. They have been handing out check the last too days, so I guess everyone gets paid!.....
I though we would be in the worse case group; we live out of state and our land is in Pease Township. Rice called me yesterday, on a Sunday, and said they were mailing some additional forms for the wives to sign (mine and my brother's). Once those forms are signed and returned, the bonus check will be available for us per lease agreement. At this point, I'm a believer.
Ed, foremost they are going by the date you signed the lease, the first signing was Nov 5. parcel size, location is no consideration. Also many of the leases are going to require an affidavit to be signed and notarized to cure minor title defects. This is being done when you pickup the checks. The guys and gals at Rice are working around the clock to make this happen asap. be patient. I haven't got my call yet either....
Jay, is the 6250 what Rice paid each landowner per acre? If so, Very NICE.
Hey Joe. Rice met with a group in Salesville today, were you in that. I Couldnt make it today