I have been hearing that a lot of leased landowners in these areas have been receiving checks (from CHK) for leases that have not expired as well as owners that are signing new leases and renewing expired leases (with RRC)...please let us all know if you signed or are being asked about leasing...we all need to stay up on what is happening around us..as well as what they are offering and who is offering...something is happening slowly and quietly..please let us know what is happening around you...
I just had some friends stop by that live in Hanover but also have a farm in Washington, off of Rt. 168. ( close to Hancock ) Range offered them, (yesterday ) $ 600.00 per acre at 17 % . Year to year lease. They declined.
600/yr would be 3000 for 5 yr lease, not too bad is it?
Craig, Not bad but they declined. Year to year might tell me that they will be drilling within the 5 year period. Once they drill.... they will not be paying the yearly $$$. Just a way to cut their leasing $$$. We shall see.....
Jason, Their farm is in Washington County, near Hancock...off Rt. 168. They have 50 acres.
The sooner they sign the clock starts ticking...they either have to drill within 5 yr or sign up again..
Hope they spend this money to buy CHK leases around Beaver County!!Coal bed methane wells.
Range Resources to sell Nora assets for $876M
Nov 3 2015, 19:18 ET | About: Range Resources Corporation (RRC) | By: Carl Surran, SA News Editor Range Resources (NYSE:RRC) says it has agreed to sell its Nora assets in southwest Virginia to an unnamed buyer for $876M, a move it says will cut its debt by 24%.
RRC says the assets, which consist of ~3,500 operated wells on ~460K net acres, produced 109M cfe/day of natural gas during Q3, representing 7.5% of the company's net production.
If they actually buy the lease, as stated, and then ask them to sign for another 5 yrs, one would have to think that they will be renewing the current lease. Probably cheaper for RRC than starting over again with a new lease. If it is an original CHK lease than it is already gas company friendly to boot...as well as landowner unfriendly.
Please private message me and I can get you an oil and gas attorney's contact information so that he can look over your newly proposed Range Resources lease. You and everyone else needs to make sure that you all get the best possible lease terms and try to eliminate any deductions from your royalties.
Thanks and best wishes,
A friend call me Wednesday night and said he just got off of a call with RRC they said they had bought his CHK lease and wanted to sign a new 5 yr lease...This could be a good sign for us south of the river...RRC seems to want to go all in..here in the Marcellus..they have other locations in the west for sale..hopefully they can sell them and invest in our area..Jeff take Todds advice and get legal advice...now is the time to get good lease terms..I can imagine that you are HAPPY about RRC buying your lease...Good Luck and keep us updated with your progress..