Anyone have any Seneca Resources offers?

We have 170 acres in Mansfield, Richmond twp. and was offered $2800/15% from Seneca Resources. East made us 2 offers 1st was $1500/15%, 2nd was $2000/15% and we were told to take it or leave it...

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3tyojqer8wqp3Permalink Reply by 3tyojqer8wqp3 on January 5, 2011 at 7:03am
Thats about right offers around middlebury by seneca was around 2500 for a 100 acre  lease with 15% royalities keep in mind the royalities as it gets divided again with whoever pools with you on the unit. Also Seneca is owned by national fuel which owns existing pipelines in ny and pa i think would be a plus east is still trying to lowball anyone not signed they also tried the same pressure tactic with me the problem with them now is getting the product to market.
Permalink Reply by Lynn Wigglesworth on January 5, 2011 at 10:02am
In my area (Delmar township) East isn't even trying to get the gas to market. They are drilling vertical wells, declaring a unit, and moving on. No horizontals, no pipelines. Just thousands of acres "held by production" with no production.

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