Comment

Comment by Bob Jenness on April 13, 2012 at 12:21am

And on yet another completely different subject...

America as a whole seems very fearful of high energy prices.  The press is full of panic about $4 and $5 gas prices, and PAC-aganda tells us that our energy secretary maliciously wants "Europe-level gas prices at $9 per gallon".  Perhaps we should consider that horizontal drilling is changing us from consumer to producer, and that high prices will, in fact benefit America by providing much-needed cash flow, balance of payments, and tax revenue benefits.  To whatever extent we as landowners can drive wellhead prices up, we benefit both ourselves and our country.  We need BOTH high prices and drill-baby-drill!  Lets try to wrap our minds around that conflict and see what discussion it generates:-).  I'm sure someone has done the math to figure out the net value difference to Crawford Co. of $1 vs $3 vs $5 mcf prices.  Anybody want to post it here?

Comment by Bob Jenness on April 12, 2012 at 11:52pm

On a completely different subject...

Does anybody know why the ALOV and other recent leases don't seem to have the words "zero flaring" in them?  This is just one example of  those technical aspects that might require an expert consultant.  I've heard and read that US energy companies will say that "you have to flare a well to get to clean production", but I know that some really large energy producing countries require zero flaring because it pollutes the environment and burns up valuable hydrocarbons.  Since a hydrofractured will is a nearly perfect bottle, burning up my gas before production may be depriving me, or even my heirs, of tens of thousands of dollars of royalties 10 or 20 years down the road when gas prices have recovered.  (your estimates of the value may vary:-)

Comment by Bob Jenness on April 12, 2012 at 11:45pm

Sam,

From my (novice, but quite well researched) understanding of the gas industry and geology, nobody knows what's in the ground until the drilling has shown the actuals.  All our current stuff is just estimating.

On the other hand, I think we can all agree that deep horizontal energy E&D is one of the most complex pursuits humans have done, and Crawford Co. has some very promising geology.  As a consulting engineer, I've worked on some very complex negotiations, and I'm absolutely convinced that the side of the table that knows more leaves less money on the table and loopholes in the contract (lease in this case).  I want to hire a negotiator who's a good poker player, but also knows very precisely what he knows and who to add to his team to fill in the areas where his knowledge is thin.  The NWPA lease value far exceeds the value of (for example) the OJ Simpson defense or similar cases.  It also exceeds most of the contracts I've known about.  All such cases I know of have had teams with both chiefs and specialists.  I'm quite surprised that such a large lease negotiation might be undertaken as a solo poker hand, and I'm a bit concerned that such a negotiating team may be using my money as table stakes.  I believe this issue may be the reason that some of my neighbors and associates have chosen CX - they seem to have a good focus on using all modern information tools to support their negotiations, and they marketed widely enough to bring in a new player with some measurable advantages over the big players.  I also believe that NWPA membership is capable of doing this level of work, but to date I haven't seen evidence that it's being done.

Comment by Sam Douglass on April 12, 2012 at 10:26pm

I remember that some time ago a very pleasant guy took me to lunch and asked if I might like to work with landowners as counsel.  He said he was an expert and knew the companies and what they would accept - he had worked with [or for] the companies in the past, sort of like insider with expert knowledge. 

   I made it very clear that I was working for the landowners and was concerned about an arrangement in which the lawyer got paid a stack of money for getting the deal completed - rather than working to get what was the best deal. 

  It also occured to me that all the noise about being an expert did not matter so much.  All you have to know is that you have something the other guy wants and play out the poker hand. 

The expert really didnot know what was in the ground at any location any more than anyone else.

Comment by myles fetterhoff on April 12, 2012 at 5:23pm

us energy exploration in troy after beekmantown well leases

Comment by warjr on April 12, 2012 at 7:35am

Correction to my earlier posts, Not Range Resources, Reserve Energy.  I have written directly to Range Resources but no replies as of yet.  Lots of Reserve Energy lease in and around the southern part of Crawford County I here but many are older ones.

Comment by warjr on April 12, 2012 at 7:32am

A Kim, yep, they are calling me weekly and they first called me about the middle of January.

Comment by Kim Conaway on April 12, 2012 at 7:20am

@Warjr,  is that  recent offer from range?  We think we are surrounded by range leases, but we have 34 acres in Troy Township that isn't leased.

Comment by petej on April 12, 2012 at 7:16am

Landowner Comment by Jeff P.1 hour agoDelete Comment

There is some good information for review for those of us in Mercer, Crawford and Venango counties as part of a Range Resources presentation.

 

Would someone with more advanced computer skills please upload pages 23 and 24 from the presentation for these county groups to review?

 

I googled Range Resources presentation. On the first page is " INFLECTION POINT - Range Resources dated April 3, 2012.

 

Thank you.

Comment by warjr on April 12, 2012 at 6:59am

To Kim, nope but Range Resources has been nagging me to sign our 75 acres at $1000 per acre with 5 years up front.  Not signing, but not telling them that yet.  My land is out towards Adamsville.  We had a land lease (crook) at our place last Spring offering $300 per acre and telling us everyone was pulling out and that the Crawford County area was dead with nothing happening for many years to come.  So be careful!

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