Replies to This Discussion

Permalink Reply by AM Kuzma on September 1, 2012 at 11:50am

I didn't expect them back this early. I figured by the end of the year, like they told many of us. Interesting. Were you personally contacted or did you hear through the grapevine? Is Rex still using Western Land services? Interesting the offer wasn't better this time. Still early in the ball game though.

Permalink Reply by TheMap on September 2, 2012 at 4:04pm

I talked with a friend who had a meeting with the same land man.  I have been giving him some advise on what to ask for in adendums, etc.  So yes, they are still using Western and at least one of the same guys.  It is still early, I think they are trying to type up what they can at 1500/15% before results are in for the wells to our SW.

Permalink Reply by AM Kuzma on September 2, 2012 at 4:12pm

I agree. When the results come in from the Cochranton area it will give us a little better idea. I would like to see the offer increase, but more importantly, i would like to see the language in the lease changed a little bit. I am not signing a lease that is not a "gross" royalty and I would like to see a Pough (spelling?) clause added to the adendum as well. Time will tell..

Permalink Reply by William Vernon Crosby on October 20, 2012 at 8:04am

Sylvan (a much smaller company) has been around and they are offering $2500/16.5%.

Permalink Reply by AM Kuzma on October 20, 2012 at 8:06am

What area have they been in? Is the company an actual driller or flipper?

Permalink Reply by William Vernon Crosby on October 25, 2012 at 5:08pm

Sylvan Energy is an Oil & Gas Exploration and Development Company. Their main office I believe is In Pittsburgh, Pa. They have drilled wells; however, I believe they are a relatively small company. I know little else about them.