Replies to This Discussion

Permalink Reply by Lynn Wigglesworth on April 26, 2010 at 2:32pm

I'll try to get it tomorrow.

Permalink Reply by Lynn Wigglesworth on April 27, 2010 at 4:32am

I just talked to the Chesapeake landman. His name is Jason Lance, his number is (607) 731-5955. Chesapeake is trying to put together a 3000 acre unit in Delmar Township; if you are anywhere near this unit (he didn't tell me where it is), they can offer $3000/20%. If you aren't near the unit, they are offering $2000/20%. It's still way better than East's offer. He did mention that if you aren't near Chesapeake's unit, they may not be able to drill until the East leases expire and they can get that land, or maybe trade with East, so it might be a while before anything happens. If they don't do anything, they'll have to renew the lease in 5 years, anyway, and I can live with that.

Another interesting thing...he said that "most of Tioga county is leased", and "most of Delmar Township is leased to East".

Permalink Reply by William Ladd on April 29, 2010 at 3:10am

Chesapeake just might be able to find an area in westfield township that approches that size. Plus we are near sabinsville pumping station and piplines. The adjoing acreage owners to mine are willing to talk with their landman.

Bill L
aka Bummy

Permalink Reply by Greg Sovas on May 3, 2010 at 12:15am

We are moving on a lease sale in Tioga. Deadline for lands to be included is June 8. We are scheduling an informational and signup meeting in Nelson for May 10. If you are interested, go to www.twintlc.com. Thanks.

Permalink Reply by Lynn Wigglesworth on May 3, 2010 at 12:45am

Can you give us a hint about what kind of lease deal you can get for landowners?

Permalink Reply by Greg Sovas on May 3, 2010 at 3:41am

Lynn, what you are asking is not possible. We will develop a very protective lease while giving the gas companies flexibility. Because of the lack of spacing, etc. in PA (see Viewpoint 7 at www.twintlc.com) some companies may view our acreage in Tioga as not worth much and may not even bid. More progressive companies know that acreage is the name of the game and understand that the state will need to move to spacing and compulsory integration changes if the natural gas will be recovered efficiently. Our job is to attract as many companies as possible to create competition for the lands. We think we will do well, given the circumstances.