Replies to This Discussion

Permalink Reply by Richard Auden on April 14, 2011 at 12:02am

Nick,

I can't really answer your questions, but here is another article for you to read...it is one person's

take on what is going on in this general area...take it with a grain of salt, and file it away or delete...

there have been many articles, both pro and con, with regards to the activities and issues...and,

there will be many more in the coming months and years.  Drilling is here to stay in this area from

what we all are seeing...It's good to get educated a little if you have the time and patience to do it.

Form your own opinion and go from there - that's the best advice anyone can give at this point...

Time will tell how it all works out.

 

Permalink Reply by Richard Auden on April 14, 2011 at 12:03am

http://www.alternet.org/story/150527/%22they_are_afraid_their_house...

Permalink Reply by Richard Auden on April 14, 2011 at 12:27am

Another article for you, Nick...like I said, there is a lot to learn and a lot of

different positions on the drilling issues and activities...

 

 

Permalink Reply by Richard Auden on April 14, 2011 at 12:28am

http://www.pennlive.com/midstate/index.ssf/2011/04/marcellus_shale_...

Permalink Reply by Nick Snell on April 14, 2011 at 9:18am

Thanks for the info Richard, I really appreciate it! It sounds like this whole process is fairly hazardous, however living close to 250 miles away I am not a exposed to the affects.  Hopefully as drilling continues (and it looks like it will for a long time) companies are to drill in a more safe manner.  From the wealth of oil in this area, do you think i would be safe to assume that my father's lease will be renewed?

 

A correction on the location of my father's land...his property is in Forksville

Permalink Reply by John Yonkin on April 14, 2011 at 9:05pm

While there is a possibility that your father's lease could expire I would make a good bet that CHK will

be able to extend the lease by various means.  Part of the key to this would be found in the lease and how it addresses the term and any extension that might be executed.  My guess would be that your father's property will be included in a unit and will then be held by production (HBP).

But you really need to review the lease before you can make a good determination on what may happen.

J Yonkin

Permalink Reply by Steve AC on April 18, 2011 at 9:30pm

Nick, with 110 acres it would be worth a lawyer looking over the terms of the lease regarding renewal if you aren't 100% clear on it. The gasco's are drilling aggressively so there's a good chance it will be automatic. However, there may be some clauses that they may not like anymore, and will try to renegotiate with you. For instance, is there a limit on the unti size in your lease (640 acres?). The companies are trying to create 1200+ acre units and are renegotiating all over the county. If they approach you it is an opportunity to negotiate better monetary terms. Take full advantage of it! know the cards in your hand.

 

Permalink Reply by Nick Snell on April 18, 2011 at 9:47pm

Thanks steve...I personally havent seen the lease. I was talking with my father (who has a lawyer for this) about what happens when the lease is up...he said if they want to renew it it will be renewed for the price that it was initially signed for (2950 per are i think). Are there ways to get updates about any progress or future plans with the land.