Comment

Comment by Berk on July 4, 2013 at 7:57am

Hey I'm not a member of CX so don't think I'm advertising.  Go to there site read there news letter for mercer county. They have someone that wants there 23,000 signed ac's and would like another 40,000. This is the Sandy Lake area that HALCON pulled out on last year.   

Comment by j. rick on July 4, 2013 at 7:54am

when the push to sign was on with range the lippert well was in the process, if you couldn't see this coming you are blind,  its gonna be a waiting game to make people scared. no infrastructure to move the product so the ball is in the o&g companies court. they will be back and people will be signing again for 50 to 100 an acre. watch and see!   people signed for 5 an 10 an acre . who does that folks its not worth adding to your tax liability.  imho!

Comment by PennCrude/NatGas Go! on July 4, 2013 at 6:17am

We have a Medina Shale well also. It is only about 10 years old, but it is still making our household decent checks and not to mention the availability of house gas. Plus the welltender that takes care of the well is spot on and we haven't had any problems with the well when it comes to salting off or breaking down. Believe that we would most likely sign on with Range again seeing that we have a previous agreement on our land. As for the landowner beat down comment? Much agreement with you there. In itself this will just result on the fact that the state wants more money from these particular types of situations and more importantly the state sees potential within the new provisions of making the new land/lease laws. What's next placing a billing meter to the house gas wells on our gas wells and tax us for that too? It is beginning to get very ridiculous especially when more and more people are seeing the vast potential and money being produced by the shale drilling. One thing is for sure. We have to realize that this area as a whole is a blessing in Northwest, Pa. Your entities such as state and government don't see it as "fair" that individuals will be getting so called rewards and free gas from the land and what's underneath. Individual home owners own the property and mineral rights, that they already pay taxes on, so what is the big deal about it? Just another way for a crippled state and government to squeeze money out to just waste it on something else.

Comment by rex roae on July 4, 2013 at 3:20am

Jack, I appreciate your candor.

I'd rather be realistic about our prospects rather than dream.  Right now, I'd gladly take $1,500/acre to lease our 100 acres of unleased land.  Last year we could have got $3,750/acre from Range but instead signed with Guardian Exploration who didn't come thru.  Earlier this year, we could have sold all our leased and unleased gas rights along with the land on a 46 acre tract for $500,000 to Marc Resources but we turned it down.  I'm not going to dwell on what 'could have been' but on what I can do now.

One positive thing I'll remind people of is that our area still has very good shallow well prospects.  We have a 30 year old Medina level well still making us $3k a year and that was closer to $10k a few years back when ng prices were higher.  I've heard of some making over $10k a month on royalties from shallow wells.  And these wells cost a fraction of what a Utica well costs to drill. 

We're not dead in the water but folks have to temper their enthusiasm.  I'll make the best of what I can do today and I'll leave what happened yesterday behind me and I'd encourage others to do the same.  Dreaming is fun but it doesn't get you anywhere.  Best of luck to all.

Comment by Berk on July 4, 2013 at 1:58am

Any news out on the Byler well south of Atlantic?

Comment by Joseph-Ohio on July 4, 2013 at 1:24am

My Opinion:

This is a landowner beat down in progress - pure and simple.

 

Comment by Jack Young on July 4, 2013 at 1:19am

The amount of gas they produced in April is rounding error for any significant pipeline. I think that looking for excuses is a pointless exercise. If the well was good, the industry would know it and there would be significant interest in the area and competition for leases. None of the things that happen when a good well is discovered have happened in Crawford County - there isn't any sign that Range or anyone else thinks that the well represented a positive development. Obviously landowners can't move elsewhere when things don't turn out well - we just have to hope that others will try their luck in Crawford County eventually, and maybe have a bit more of it.  

Comment by Bob Jenness on July 4, 2013 at 1:05am

RJS, and Jack,

Do we know which pipeline the Lippert Well is actually using to transport its gas output to market?  I know that well is close to a Dominion pipeline that moves gas to PGH and CLE from many vertical wells in the area.  I checked once, and it looked like there was not much spare capacity in that line.  They may be selling all that they can cram into the old pipe.

Comment by Joseph-Ohio on July 3, 2013 at 9:33am

You know - should mention here that the owner of the well is in control of how much production he chooses to bring to market and sell. 

There is such a thing as throttling a well back for whatever reason the owner wants to apply.

Landowners aren't at all in control of production - that's a good argument for bargaining for a decent shut-in / delay rental / as big of a signing bonus as you as a landowner can obtain.

Just sayin'.

IMHO 

Comment by Joseph-Ohio on July 3, 2013 at 9:16am

Thanks for all your well wishes Jack Young.

Hope you're wrong about having nothing to show for my efforts a year from now.

Just noting that it's been my efforts that have put me in a position to bargain for the best deal I can get for myself and my family so far.

You should also understand that I've been through a few things in the process as well.

What I find crazy these days is the rest of the world's apparent perspective and on many many fronts I may add.

Good luck to all of us as landowners - we've earned it and we deserve it - these investments we've made belong to us and are ours to sell when and under what terms we want to sell them - get the most bang for your buck that you can and know that's what the big boys are after as well.  The difference being that the deck is already stacked in their favor.  Keep an eye on the dealers boys and girls.

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