Leasing in Tioga county

I am a trustee for a trust that has an interest in leasing the oil, gas and mineral (subsurface) rights for property in Lawrence and Brookfield township in Tioga county. There are approximatly 250 acres in each township available. Does anyone know of gas company representatives that have expressed an interest in leasing for these areas and what the going rate is for such a lease? Obviously I have a fiduciary interest in getting a fair price for the lease. It would be helpful to know which companies are leasing and what they are offering.

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Permalink Reply by Christopher S Gilbert - Realtor on January 7, 2010 at 4:11pm
Prolly East Resources would be your best bet! In Brookfield, check with NOVUS and Penn-Virginia (I think that is the name). East is the dominate player in Tioga County. They seem to be paying $1500 with a 15% royalty most places.
Permalink Reply by Brian Day on January 13, 2010 at 2:04pm
A tract of State Forest land of a little over 10,000 acres was just leased by Seneca in Tioga County for $4,625 an acre. I am not sure of the royalty amount, but the State would not accept less than %18 on the bids I think. The land is located north of Route 6 and south of Route 249. It is part of Middlebury, Chatham, and maybe Delmar townships. The tract is number 007. This information came directly from the State
Forest website. I should think this would set some kind of benchmark value on leasing in the area.
Permalink Reply by Daniel Natirboff on January 20, 2010 at 5:21am
What company did your brother-in-law sign with if you do not mind me asking?
Permalink Reply by Theodore Koncsol on January 21, 2010 at 6:52am
There have been failures. Not to the degree where they won't produce, but in southern Tioga near Troy, a company capped a site due to hitting salt. They know the gas is there but went somewhere else rather than incur damages to equipment.

I don't think it's entirely fair to say that it's 100% garunteed. The only thing for sure is death and taxes.

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