Comment

Comment by petej on June 26, 2012 at 9:24am

Crawford County PA Landowners,

There are people who follow these posts that don't post themselves, thats fine. However, you and Venango County are the next "hot spots" in this wet gas Utica play! You have several choices for leasing.

We have just leased in north central Mercer County and  are very happy with all terms. We, our family and friends have unleased land in Crawford County also. We will not necessarily go the same route. Looking at options.

I will start a discussion above and will HOPE more people get inolved than did in Mercer County.

 

Comment by petej on June 26, 2012 at 8:38am

Myles,

I love the fact that you question what you read. I do the same. However, if you have what I think you have, you did not read the "Addendum", or you don't have it. As Jim stated "the addendum supersedes the standard form's language". As far as posting the real lease, I'll leave that question to Jim.

Comment by myles fetterhoff on June 25, 2012 at 3:43pm

Can you post the real lease

Comment by Jim Litwinowicz on June 25, 2012 at 3:40pm

myles; either you have very little knowledge of leases and the terms contained within a lease or you are intentionally misleading people.

The sections that you posted in reference to royalties are from the standard  lease form used by the company.  But the portion that I posted earlier are from the the attached addendum, which supersede the standard form's language.

The lease is for NO DEDUCTIONS.

Comment by myles fetterhoff on June 25, 2012 at 12:56pm

1000ft below speechly sandstone formation. Which formation is this? does go by some other name?

Comment by the two of us on June 25, 2012 at 12:51pm

Ok thanks

Comment by myles fetterhoff on June 25, 2012 at 12:49pm

It's language from halc and energy producton sample sheet they gave my friend who lives in mercer. I work with this guy.

Comment by myles fetterhoff on June 25, 2012 at 12:46pm

There shall. E no deductions from royalty payments in a and b above for any costs of production , including exploring or surveying the leased premises for oil and gas,or installing, drilling,, completing, equipping and producing a well. However, such royalty payments shall be less lessors pro-rata share of post-production costs. Post-production costs include, without limitation, (1) all costs actually incurred by lessee and all losses of produced. Plumes wether by use fuel , line loss, flaring, venting or otherwise transportation, processing and removal Of liquid hydrocarbons, and other liquids or gaseous substances or impurities from the production; and any other treatment or processing required by the purchaser or otherwise market and sell gas, oil or any other hydrocarbons or substances produced with oil and gas. Lessee also may deduct from royalties payments lessor's prorate share any tax imposed by any governent body that is le IDE upon the value of production or severance of oil and gas from the leased premises

Comment by the two of us on June 25, 2012 at 12:30pm

Myles is this part of the lease from the
Land group in Crawford county?

Comment by myles fetterhoff on June 25, 2012 at 12:05pm

Any royalty payments to be made by lessee to lessors on any oil and gas producers from the leased premises and when sold by lessee shall be based on. Net amount realized by lessee, computed at the
Pith of the well.

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