Replies to This Discussion

Permalink Reply by Daniel Rupert on August 3, 2012 at 2:43pm

Eric, the early offers we had in the past were @ 12.5%...I would not personally settle for less than 15% and would try to negotiate higher...16,17 or even 18%. Easier said than done though in this current market...things WILL heat again in due time.

Permalink Reply by Eric Herriman on August 3, 2012 at 2:48pm

Thanks Dan.  I've been on the net for the last 3 days and those were the numbers I'm seeing.  I'm also seeing some prices around $3-4 thousand per acre as well in areas to the west.  Those areas appear very active.  The only proof I have of activity in my area is the permit activity on the PA website and a visual on the actual drill pad less than 2 miles from my property.  I'll continue my homework, thanks again.

Permalink Reply by Mike Flor on August 5, 2012 at 12:49am

Hi Dan, its good to see some discussions on leasing again in Elk county.  Maybe this time we can all get a good lease.

Permalink Reply by Daniel Rupert on August 6, 2012 at 10:23am

Hello Mike,  It might be time to organize again to see if we can have better luck the next round. I have many individual landowners intersted. Please stay in ouch as things WILL heat up again...when is the question.

Permalink Reply by jb379 on August 6, 2012 at 1:38pm

I wonder if EQT has circled back around to pick up more acreage after drilling their well(s) off of 555?  One would think if the well(s) drilled were decent, they'd have come back trying to pick up additional tracts, no?  Is there any "chatter" as to how they did with their well(s)?  Are they currently producing?

 

Permalink Reply by Daniel Rupert on August 6, 2012 at 1:55pm

jb379...my information is that EQT has already drilled their 4 wells (last year ) in Caledonia and will be fracking them in August and/or September. This is from very reliable sources.  I think your assumption would be correct if these wells are productive...time will tell...I hope so as our 154.5 acres are very close and also off Route 555.

Permalink Reply by jb379 on August 6, 2012 at 1:59pm

Thanks for the update....fingers are crossed for EQT and everyone in the area who could benefit.

Permalink Reply by Eric Herriman on August 6, 2012 at 2:16pm

I haven't driven by in a while but there were permits on the state web page for wells on shawmut road and another just east of 219 around Brandy Camp.

 

Permalink Reply by Daniel Rupert on August 6, 2012 at 2:58pm

Yes Eric, I'am aware of those as well...maybe someone else has information on those two locations...

Permalink Reply by Janice L. Hancharick on August 8, 2012 at 2:19pm

Is there only one company that rightsholders are considering to lease with?  If no one else is bidding for the acreage, is it really a bid? ... or more a "take it or leave it" deal.  Competition is what drives the market for commoditites and services. Rightsholders/landowners who really want optimim control of their acreage ... not just $$$ and royalty %, need to consider much more . 

Example: location, water testing, right of ways, soil impaction, reclamation, pipe depth, timber stands, etc.  The list goes on.  And as long as the list is, who is the sales person(s)?  Oil/gas lease negotiations are done by the experienced professionals on the EQT, Range, Chesapeake, Shell, Exxon, etc. roster.  Who speaks for the Elk County people?  Who has a comparable background in gas and oil?

 

Rather than be swayed by "out of the gate"  #'s, it would make better sense to take your time.  Successful leasing is  more than making a list of "I wants", kicking the tires ....   

Wells drilled in your region is a positive sign.  Wet or dry that gas has to travel before anything can be done to it.  Gathering, and intra-state or inter-state pipelines in place? 

Lots to think about.

Permalink Reply by Daniel Rupert on August 8, 2012 at 2:32pm

 Janice, please educate me ...I'am  listening...for whom do you work for?

Permalink Reply by jb379 on August 8, 2012 at 2:35pm

Good lord Dan do not get this train rolling...here comes the endless self promotion.

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