Replies to This Discussion

Permalink Reply by rmc on August 4, 2015 at 8:25am

It was 4500 for the Utica only but the Marcellus had to be already under lease to qualify
Plus the fee for the attornys I don't remember how much they where.

Permalink Reply by S S C on August 4, 2015 at 9:17am

Thanks. I knew i had seen it somewhere. Basically, they were willing to pay more for the utica than the marcellus if the two formations were only bringing six something then.

In the past, the best lease prices were paid when the price of oil and ng were high. Right now prices are low but there was a lot of talk about exporting which would change that i think. It's a gamble either way.

Permalink Reply by S S C on August 5, 2015 at 1:51am

There are others interested. I had an unsolicited offer last fall.

Permalink Reply by rmc on August 5, 2015 at 12:13am

I don't think the Tugg Hill lease is available any longer.

Permalink Reply by PETE on August 5, 2015 at 3:38am

I think they are still taking some leases to fill in their boxes--but until they come up to the 20% royalty don`t think I will be interested--But I have an existing well pad,pond, close to processing plants and pipelines and also setting on the pillar of coal they need to drill--so I will hold out

Permalink Reply by Melissa Chambers on August 5, 2015 at 4:13am

pete....you are definitely in a better position that I am, and Noble is the offer on the table, basically 18% royalty is tops, and that was wrestling them to get it at 18%.

Permalink Reply by PETE on August 5, 2015 at 5:01am

Well between me and the neighbor on the adjoining tracks we have roughly 700 to 900 acres and at first were trying for a drilling commitment, so I guess now we might as well go for the money with gas prices so low--mu Marcellus lease expires here soon so guess I will be looking to lease both

Permalink Reply by rmc on August 5, 2015 at 7:00am

Might be awhile.

Permalink Reply by rmc on August 5, 2015 at 7:06am

We have a group that has a little over a thousand acres in Greene County. Laying Northwest Southeast to support a unit of wells by itself
Was in talks with a few companies back in 2014 all talks broke off no reasonable offers since then

Permalink Reply by Kyle Nuttall on August 5, 2015 at 7:59am

I'm thinking leasing is going to pick up beginning 2016 and really start to get hot mid-2016.  The oil and gas companies are going to have to build supply for the pipelines, natural gas fired energy plants, and cracker plants that will all be coming on in 2017-2020.  We've actually started to see a small uptick in calls to the office about leases lately - I think some companies are already starting to lease more as prices are lower than they will be next year this time.

Of course, that's all if things go as expected.  You never know what's going to happen in 12 months.

Permalink Reply by rmc on August 5, 2015 at 8:06am

I wonder what Utica wells with IP's over 70 million cubic foot will do to the price of gas in the aplachia for the next few years ?

Permalink Reply by Tim on August 12, 2015 at 7:35am

Would be best for all if IP's were standardized.  70MMCF IP 24 hrs is very different than a well doing 20-25-30MMCF IP for 30 days.

The 24 hr # is great for headlines, but the reality is, its a 24 hr #.  If it is able to hold 20-25MMCF for 30 days, that seems to hint at staying power in the well.  Keep in mind, if 70MMCF for the 1st 24 hrs, whats the next 29 day avg need to be to get to 25MMCF.  Puts some perspective on the decline curve of these wells.

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