I know they just signed leases, but everyone on this board and landowners I'm sure would appreciate the information. I've been told the numbers and that it was a great lease, just trying to figure out why it is so 'hush-hush'?
Has Rice already turned down land owners just two weeks after signing? Seems like a group of 50,000 spread acres would never be 100% signed by any company...
I am sorry to hear that you are disappointed, but I think as a landowner everyone should be aware that you need to be part of a group that best represents the area that you are in. I continue hearing about gas companies "not taking all of the acreage of a group", then the landowners not included get really upset. Unfortunately, if a company does not want certain areas, they will not spend millions on it, just to be charitable. I think the S-G board did very well and kept as much of the group together as possible which was all of Smith and Goshen townships as well as some other larger pieces.
Those not included, but closer to the river will probably see more offers in the future as it appears companies are leasing for the potential wet Marcellus as well as the Utica. As is happening in Monroe county.
Good luck to you and try not to hold a grudge against the S-G board, they did what they could to bring the best deal to the vast majority.
BrianH, I think Rice Energy is interested and wants all the acres they can get, just like Gulfport, just like Antero, just like Hess, just like XTO and numerous other un-named brokers that have approached all of us over the past few years.
Throwing Larry and the committee under the bus at this time I feel is a bit premature...even for the eastern Belmont County acres.
Now, if a landowner added acres to their lease signing and the landowner knew beforehand that those acres could not be signed because of HBP or complete title default or prior lease, then no, those acres couldn't be signed... we all learned this in our past S-G Group meetings. Those acres aren't going to be signed up in the current/standard Rice/S-G lease deal... and I agree with that 100%. Yes, there are those who will try and slip something in to try and get paid on, but, its highly doubtful they will get paid on those suspect acres... Rice is smarter than that and the S-G committee has already gone over most of those acres with the landowners themselves to make sure those are "clear" title acres.
Getting the "all or nothing" deal to me means getting those acres signed that can be signed... the acres which can be cured by the Dormant Minerals Act, etc. if necessary... not the cherry picking way so many of these past companies had the option to accomplish.
Larry and the committe have continued to do a great job getting this deal. I believe there is due diligence going on continually by Rice to close and finalize this and move forward to getting wells in place and start drilling!!!
Ed, were these offers considered better/more landowner friendly than the Rice offering? As in signing bonus money or terms of the lease? Did those other offers require the infamous market enhancement clause? Did they guarantee acceptance if title was curable?
Don't get me wrong, I will be disapointed as anyone if this deal doesn't come to fruition for all the acres in the county that were with the S-G Group, because if that is the case, we are all in jeapordy of getting released. That would be foolish, I believe, on the part of the O&G companies though. The landowners of Belmont County should all know by now that "we" are the Utica shale gas play; whether it be NG, NGL's, Oil, etc. Whether you are signed up in this deal or the next deal, let us all hope for continued good news on the well results. If that good news continues, there won't be an acre left to argue about...count on it.
You lost me Brian...? You mean the
Brian , throwing Larry Cain under the bus isn't fair . No one held a gun to anyone's . You or anyone had the chance to sign with whoever you wanted .
Look at the groups that want 4 to 5 % of the top compared to a $35.00 donation for all of there hard work with no commitment with the S-G group .
I hope that you and everyone else gets leased soon and takes this pressure away .
Nothing gained nothing lost .
Brian, I am sorry that my earlier post did not show up on here... I couldn't understand your 10K comment. I replied to your post but it didn't completely show up. I think my computer is not up to the speed of this new web design/blog? No matter, I understand what you are trying to convey now.
You are correct that Rice is not one of the bigger players in this Utica shale play. All indications have shown that leases from the above named companies did not/do not cover a landowner like the S-G lease does. Leases have come a long way from the old stock lease of the 70's & 80's. Leases have come a long way from the Oxford leases of just a few years ago. Leases have come a long way from Wishgard of just a few years ago. I haven't seen an XTO or actual Hess lease for a couple of years and only when I did see one, it was brought to me by a broker...who was going to make a killing off of my acres. That's not going to happen. I ask you to compare the Antero & Gulfport leases currently available and on the market for Belmont County and tell me, honestly, what those companies have to offer that Rice/S-G has missed?
So far as I can see, Rice is a quality company who gets their money from the same place as the rest of the big boys... either their own pocket or other investors. Money may already be coming from one or all of these big companies behind closed doors...once again, that's not my concern. Rice forsee's success in the Belmont County Utica shale play or they wouldn't be here.
Rice Energy is a business. A business which wants and needs to grow everyday. I support that idea. Especially when it involves the energy beneath us. What Rice has planned for us is none of my business, although I would like to finalize the lease and get a well sometime in the future. If they decide to invest in Belmont County and then joint venture or flip the acres in a few years, so be it. Realize though that it will be under a well thought out lease that works not only for the company but the landowner... as it should be.
I hope that Rice leases doesn't change like the weather and Antero lease's do . Time will tell .
I have in the last two months seen Antero lease's change weekly unlike Rice comes out with a killer lease that is the bomb with no deduction to the landowner .Huummmm .
Like I said earlier lets see if Lewisville's signing in
Feb is the way some like to play the game