New to all of this, and seeking guidance

My wife and I are landowners in Susquehanna County.  We bought a farm about a year and a half ago with an existing lease.  The mineral rights were conveyed to us in the purchase of the property.  The current lease expires in less than two years.  I joined this group because we need to be educated in order to make informed decisions with regard to maximizing the potential of the existing lease, possible renegotiation, and the environmental impact of drilling on our property.

 

My hope is that this group has individuals who have been in the same position.  Any guidance on where to start would be appreciated.    

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Replies to This Discussion

Permalink Reply by Rita McConnell on January 27, 2010 at 4:24am
Welcome Bud.

Here's a link to the DOE Shale Gas Primer.
It was published last year, but its a great place to start research -- the area on fracing (pages 62, 63 for example) is very useful. This web site is also a great place to ask questions and get answers. The US Geological Survey's web site i also a wealth of knowledge.
I'm an industry person, but I am also a large landowner, with both oil and natural gas leases on property I own. I've also worked on the regulatory side in my career. Hope that's helpful.
Permalink Reply by Bud Sudhop on January 27, 2010 at 5:15am
Thank you Rita. This should keep me busy for a while! I appreciate your help.
Permalink Reply by Bill on March 4, 2010 at 2:14am
Good Morning Bud,

Move slowly. I have been following the gas rush for about two years and I cannot say with confidence I fully understand it. I believe this is primarily due to the fact that it is happening so quickly and conditions constantly change. Above all, know your rights and do not sign a contract without consulting an Attorney who is well-versed in gas leasing. An Attorney will negoiate the best sign on bonus and remove verbiage from the contract written to protect the gas company from legal action. A consult will cost you $175.00 I used Lester Greevy out of Williamsport.

From there, it depends on what yout personal interest are. We all like money, but it may not be as lukerative as a Landman will portray it. The only people making serious money (by serious I mean hundreds of thousands) are the big landowners. If you have as significant amount of property, shall we say 100 plus acres and you are willing to lease it all- you may make a 6 digit sign on bonus and good royalties IF.... you are pulled into a gas unit. Simply because you sign does not mean you will see a penny of royalties. There are risks also- there have been accidents involving frac fluid and we are all not certain what frac fluid contains. This is propriatoty information. Again- be sure to get aan Attorney.
Permalink Reply by Bud Sudhop on June 16, 2010 at 7:04am
Thanks Bill, I appreciate the advice. We have more than one hundred acres, but I don't understand what you mean by a "gas unit".
Permalink Reply by BuckinghamGasMan on June 30, 2010 at 4:59am
Bud:

Some Susquehanna landowners have joined the Northern Wayne Property Owners Alliance. They have a deal with Hess Oil. If you are near the Wayne Co Line, you might want to check their website at http://nwpoa.club.officelive.com/default.aspx You can sign up as interested in a lease and Hess will tell you if they aree intgerested in your property.
Permalink Reply by Bud Sudhop on July 15, 2010 at 12:40am
Thanks, but I'm further west -- just north of Montrose.

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