Needs some advice. Thank You.

I own 75 acres of raw land in the Volant area.  I have some questions I hope someone can help me with.

 

1) The land currently has producing gas wells that are leased.   Is there the possibility that marcellus shale gas reserves could be present in addition to the wells that have already been drilled?

 

2) If it is possible, do you think my current gas company would be interested in testing for marcellus shale gas reserves?

 

3) If they are, how much in royalties could I expect.

 

I am a rookie in all this so any help would be appreciated.

 

Thanks

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Replies to This Discussion

Permalink Reply by Rick Cancelliere on April 18, 2011 at 7:49pm

Well the good news is your gas company will be interested in the Marcellus/Utica gas on your property. The bad news is depending on how your current lease is written you may be locked in under the terms of that lease agreement. They may already be working on a cooperative arrangement with a drilling company or producer for your property. I'm not an attorney but I would recommend you have your lease  reviewed to get your questions answered.

 

Good luck.

 

arc

 

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