Replies to This Discussion

Permalink Reply by SHELLY OSWALD on March 22, 2010 at 1:30am

One of my neighbors signed recently and many signed 3 years ago. Forward Twp

Permalink Reply by Larry Lagut on March 23, 2010 at 6:52am

From what I know. A large group in Parker twp have signed with serveral companys. Now drilling their is still up in the air , But rumor is that BLX has done one well in the area.

Permalink Reply by Les on April 8, 2010 at 11:11am

Butler County Recorder of Deeds website has lease info (no real $ per acre or royalty info recorded that I've seen)... do a "simple search" on "Last name" 'R E Gas' and you'll come up with a lot; also can search Phillips Production, BLX, etc. I recently saw East Resources has something signed with JP Morgan, not a lease... mortgage or something... for additional financing through a private investor/investment firm? (Looks like they sold or mortgaged their interest in 3 wells in Slippery Rock and Mercer Co.)

East also just (3 weeks ago, 03/17) assigned a number of leases from Conno, Lancaster, and Muddy Creek Twps (and others?) to R E Gas Development. Some of these were my neighbors in Muddy Creek Twp who signed with East summer of 2008. I didn't sign (offered $500 ac/12.5%/5 yr; $750 for 10 yr).

A friend has 11 ac in Middlesex Twp, Glade Mills; said they were offered $1500/15% (I think) a month or 2 ago.

I talked to someone about 2 months ago who told me a Franklin Twp lease with Phillips was for this rate also.

Another friend in Lancaster Twp just told me today they were offered $3000/ac (50-100 ac), not sure what royalty, not sure of the company (her husband is handling details). This seems to be a BIG jump from the $1500 I've been seeing talked about/offered.

Hope this helps.

Permalink Reply by Sam Douglass on March 23, 2010 at 3:55pm

No rush to sign; offers are likely to get better over time.

Permalink Reply by Sam Douglass on April 9, 2010 at 10:48am

There are a lot of opportunists. Wait for the 20% or more royalty and at least $5000/acre. Eventually those offers will come.

Permalink Reply by Dale on May 27, 2010 at 1:02am

My attorney in Slippery Rock is Ronald Coyer and he has been working with gas/oil leases for over 10 years. He is very knowledgeable in the area of gas/oil land leases. A lease is written to benefit the drilling company and being that we are not familiar with the "lingo", it is written in a way that it actually sounds good until the attorney sees seemingly innocent statements in a different light. After these statements are explained to you, it will become clear why you hired an attorney.

Permalink Reply by Sam Douglass on May 27, 2010 at 2:56pm

He is right.

Every word in the lease is important to the lessee; the lease is kept as short as possible for lessee's purposes.

Words that might help you are left out.

Every company's lease is different in important ways

Permalink Reply by Glenn Hunkele on October 30, 2010 at 1:09pm

My family owns 150 acers off of Carbon center Road . We would be interested in a group to make a better lease deal. Our 5 year lease ran out with PCC . We would like to know if you have found any others in Summit Twp.
Thanks, Glenn

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