Replies to This Discussion

Permalink Reply by Nancy LeNau on September 27, 2015 at 3:24pm

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.  

Permalink Reply by Jason on September 27, 2015 at 4:35pm

Was the offer for the Hanover property?
How many acres? That is horribly low.

Permalink Reply by craig on September 27, 2015 at 5:13pm

600/yr would be 3000 for 5 yr lease, not too bad is it?

Permalink Reply by Nancy LeNau on September 28, 2015 at 3:03pm

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.....

Permalink Reply by Nancy LeNau on September 28, 2015 at 2:58pm

Jason, Their farm is in Washington County, near Hancock...off Rt. 168.    They have 50 acres.  

Permalink Reply by Gary on September 28, 2015 at 11:47pm

The sooner they sign the clock starts ticking...they either have to drill within 5 yr or sign up again..

Permalink Reply by Gary on November 3, 2015 at 11:09pm

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.

Permalink Reply by jeff on January 22, 2016 at 5:24pm

RRC contacted me this week to inform me that they were buying my CHK lease that expires in Sept. and would like to sign me for another 5 years. The rep said they were buying all the CHK leases in the area. I'm in Greene Twp. close to Southside Beaver School. Meeting next week to discuss terms. Really happy to be switching to Range.

Permalink Reply by Jason on January 22, 2016 at 5:38pm

Great news Jeff.

please let us know what the offer is, terms and royalty %. Are they just going to renew what you already have? Lots to hear from you soon. Best of luck.

Permalink Reply by craig on January 23, 2016 at 1:29pm

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.

 

Permalink Reply by Todd on January 23, 2016 at 1:43pm

Jeff,

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,

Todd

Permalink Reply by Gary on January 24, 2016 at 1:29am

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..

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