Hey, everybody,

First time adding anything to the discussion, so please be patient with my lack of knowledge.  I own 25 acres in Litchfield Township, Bradford County, but I live and work in Philadelphia, so I can't see what's going on up there.  So my question is, Has anyone in Litchfield been approached by a landman about signing a lease, and if so, could you share some of the details?

e.g terms, length of lease, whether or not you needed a lawyer, and, if so, who did you choose.

 

Thanks for any help you can provide me

 

Brian

Views: 1694

Replies to This Discussion

Brian,

 

I live in Litchfield and am leased with Talisman. Chesapeake is the operator in Litchfield, but Talisman, Williams, Chesapeake, and others will lease your property when they are ready for development. Where is your property located in Litchfield? I can probably give you a guess as to timeframe.

Regards,

Mike

I would also recommend a lawyer review before you sign anything. I can refer a good one in Philly.

Thanks Mike,

The property is on Cotton Hollow Rd., just west of McAfee.  I was contacted over the weekend by Red Sky Land, who claim they represent Chesapeake.  I appreciate your advice, and hope to hear more soon.

Brian

Brian,

    For some reason, and I can't remember exactly, Red Sky Land sends up red flags to me. They sent out letters in our area and they got in deep doo-doo. As with all land men, be on your toes. They may be nice and friendly, but they are salesmen and they want your land and they will say and do anything to get it.  Do your homework.

Thanks Sherre,

When he showed up on my doorstep on Saturday morning in Philly with a  copy of a land lease and a cover letter, it surprised me, but it looked legit.  I was contacted a few years back by Red Sky, and at that time they offered $5 per acre.  This is substantially more than that offer, and I'm still going to get a lawyer to look at it.  Thanks for the info.

Brian

Brian,

I have a Friendsville lease which is very protective + $5500/Acre & 20% royalty without deduction. The lawyer for our group is Warren Trainor of Philadelphia. I would not sign anything without an experienced oil & gas lawyer looking at it. Everything is negotiable.

Good Luck,

Mike

Mike,

Thanks for that information.  The lease offered to me was for $4000/Acre & 18% royalty.

Didn't sound too bad to me, you obviously received a much better offer.  I looked up Warren Trainor's info.  I really appreciate the help and info you gave me.  Guess I'll see how it goes.

Brian

Brian,

I think you may have a well bore going under your property now (Feusner 2H maybe). You may have pretty good negotiating power.

Mike

 

Mike,

Thanks for the info, but a Feusner 2H doesn't mean anything to me, plus, if they've already started, what can you do to stop them? And what negotiating power do you have?  Don't want to sound uniformed, but I guess I am. Thanks

Brian

Brian,

If you go on Google earth and plot the following, it shows the well pads that may be near you. Feusner(41.9401,-76.3945), Alderfer(41.9319,-76.4097).

Let me know if you know your GPS location or street address, or if you can id your property on Google Earth.

Mike

Mike,

Did what you said on Google Earth, the coordinates seem to be east of McAfee Rd, South of my property.  If you're familiar with Cotton Hollow, my property is east of the Militia Hill Alpaca Farm.  As a matter of fact, it is directly adjacent to Jim's property.  Thanks for your help.

Brian

Fishers horse farm is in the Feusner pooled unit. They may be close to you. I did not see Jim's name in the unit.

 

Landex.com has pooled units by well name and county. Look up Feusner and look at the document called misc...

 

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service