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Comment by Jim Litwinowicz on May 17, 2012 at 8:39am

6% of the first bonus payment, none from royalty or second bonus payment if they renew after five years.

The fee will go to 8% after a deal for Crawford is finalized.

Comment by Dave on May 17, 2012 at 8:12am

What percentages do you take out of the bonus payment and/or the royalty payments.

Comment by Jim Litwinowicz on May 17, 2012 at 3:52am

M & P and Cx-Energy have announced a deal for Mercer Co with Halcon for $3850/18.5% no deductions with a very good lease. Best part is that it only covers deep rights, below 1000' below the base of the Speechley Sandstone.  That will allow landowners to lease their shallow rights to  a shallow driller and possibly get free gas. (The lease gives Halcon the right to match any offer) I don't know for sure what a shallow lease is worth but I'm guessing that would be another $500 to $1000 per acre for the landowner. Good deal.

It may be extended to Crawford but I don't know yet. If you are interested in joining our Crawford landowners group, email me at landownerslease@hotmail.com

Comment by Sam Douglass on May 14, 2012 at 3:17pm

From what I hear, a deal is very possible before the end of the year --     or sooner       or later.  

You are not located in Washington-Greene County or one the Ohio Counties where thing are happening fast and infrastructure is moving along.  But it will come.  Certainly there is already some modest activity and interest in NW PA.  

Meanwhile, since the price of natural gas now is inordiately low, drilling later seems likely to bring more revenue.

It is important to wait for the right deal and take advantage of strength that comes with numbers.  Every parcel is significant and important.  But just as 500 or 1000 acres draws some attention 35,000 acres and growing commands some attention.  And it is important to be patient if possible.  Some people are pressed for cash, for whatever reason, and will need to take offers that may not be as good as if they could wait.  Those people cannot be faulted for doing what they need to do.

And with the NW PA group there is no binding agreement that prevents you from doing something different.  People are held together by the knowledge that the leadership is trying to do as well as possible by working together.  And the producers will expect some variations in the final lease each owner signs in order to satisfy reasonable concerns of that owner.  Hopefully there will be a financial deal that can satisfy nearly everyone.

Comment by Dave on May 10, 2012 at 8:14am

Has there been any interested in crawford county through NWPA Landowners group.  Do you think something will happen by the end of the year?

Comment by John Phipps on May 8, 2012 at 1:58am

Some time ago a church I served in Greene County signed a lease with Kreibel Resources. Seemed pretty reputable. They are the "K" of the old C&K Coal company the used to work in the Clarion, Jefferson, Mercer County areas. etc...  Back in the day, they were considered one of the more reputable strip mine companies working at that time. I grew up in Venango county and remember them well. Can't really vouch for them excpet to offer that bit of history/knowledge about them.

Comment by Sam Douglass on May 7, 2012 at 2:24pm

Out of curiosity, I checked the Internet on http://www.kriebelcompanies.com/ which represents itself as a 3 generation operation in the shallow drilling business.  If there were anything too bad, it is likely to be in the public domain even if it is a private company.  Knowing this much, I might consider a lease of shallow structures to it.  Nothing in the web site suggested to me that it had the depth to start handling $20,000.000 drill pads.  I am guessing it might sell its deeper stuff to a bigger company.  Know that there is renewed interest some places in doing shallow drilling for oil in PA.  Current oil prices apparently make it worth going after shallow oil that was not pursued in the past because of the expense.

Comment by SCOTT CARE on May 7, 2012 at 12:22pm

Has anyone else been approached by a landman from a company called Kriebel Minerals, Inc.?  We have received several calls and a copy of a lease they want to discuss with us?

 

Comment by Jim Litwinowicz on April 18, 2012 at 2:42pm

Sam. Bob  The name of the company is GasFrac. http://www.gasfrac.com/

They have done about a thousand wells so far.  Seems to be better but is in its infancy.  There are looking into doing a couple in NY as the moratorium there is for hydrofracking  and this would be exempt.

Comment by Sam Douglass on April 18, 2012 at 2:35pm

Bob - you are obviously doing a lot of research to understand what it is all about.  It would be great if more people could do that.  One are that is new that you could help in getting the research done and getting the word around is stopping the use of water for "hydro" fracking and replacing the water with liquid propane.  This is quite contraversial at the moment.  Many think it would solve a lot of problems and eliminate many of the concerns that come from the use of water and its regergitation to the surface to be somehow carted away and eliminated.  The propane just comes back with the other gases and finds its way into the pipelines.  But some are concerned with the process thinking that handling the propane on the surface could lead to explosions.  It is all new and a Canadian company is said to be taking the lead.  For all I know it may have patented the process.  It would be great if you could find out more and pass it on to the rest of us.

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