Comment

Comment by Joseph-Ohio on May 16, 2013 at 1:24am

Any news on that well going in near Pymatuning ?

Comment by Bob Jenness on May 11, 2013 at 4:53am

And regarding increasing land values...

It would seem that the Crawford/Mercer real estate market is behaving a lot more like a fair and free market than the corresponding lease market.  Perhaps the HBP-holders need some land to build some of their future infrastructure on. Perhaps that's a more pressing capex need for them than filling in the HBP Gerrymander.  Perhaps that's moving the market.

I've been counseled by wiser investors than myself to "sell the property and buy XOM stock", and this makes it look like good advice.  Only problem is, that after all the study, I came to kind of like the idea of "converting my business from land speculation to energy e&p".  Now I'm gonna have to carefully evaluate how much more time and $ I have to invest to get there.  This certainly helps those "in need of immediate cash" a lot more than continuing to wait for a cheap lease, doesn't it?

We might even be able to borrow money against the increased land values before too long.  Don't try that with your lease prospects:-)

Comment by Bob Jenness on May 11, 2013 at 4:38am

Regarding Sam's post yesterday,

I, too, really want to believe that the big, strong companies who may someday offer me a lease are basically honest, but I'd really like to have some evidence to support that belief.  I can go to XOM on the web, and find lots of evidence, and I've known the company since post-Exxon Valdez, and they appear to have gone honest and diligent to save the company.  And I fully understand protecting proprietary info in a competitive market.  On the other hand, if the information withheld from Crawford County 10 years ago was the intent to acquire rights on the cheap for future horizontal drilling, that crosses the line.  

I vigorously agree that landowners are vastly overmatched in this matter, and that's why we unite in groups - to increase our strength by numbers and secure skilled representation to use every means to level the market for the assets we sometimes desperately need to develop on fair terms.

Comment by gary smith on May 10, 2013 at 3:08pm

there are some vista leases on rt 285 toward Conneaut lake right off the Cochranton exit of I 79.

Comment by victor snodgrass on May 10, 2013 at 12:58pm

Brad. Shell already leased the deep well rights from Vista in Mercer county. I went to mercer courthouse in the spring and got a list of the Vista leaseholders in Mercer countyThere were 26 pages of names. Aren,t there Vista leases in Crawford County? I know there are a bunch in Venango, Lawrence and Butler Countys. Don,t you think for now that Shell just wents to lease the connecting property between Vista leases? I  went to the meeting where Vista anounced the sale of the deep well rights to Shell last year at the New Lebonon Church. The Shell guys at the time said they were interested in ajoining propertys or if you were locked in by vista leases. Also wanted to say I gotto talk to a Shell cominity relations person from Canada. Actually the shell meeting at Hempfield was just a community relations meeting and there wasn,t anyone to sign up leases. I know a person that had his deed already to sign.

Comment by james on May 10, 2013 at 12:31pm

John Doe, land with gas and oil rights has been going crazy the last 6 months, I haven't seen anything with rights included sell for less then $5000 an acre in mercer county, most of it is selling for $6000+ per acre. I called about 92 acres near grove city that was on the market for 5 days last week and its already sold, $5000 an acre, it includes rights but is held by production, the well is making $20 a month. Someone paid a lot of money for something that may be dead money for a long time.

Comment by John Harrison on May 10, 2013 at 10:59am

Phone # for shell is 877-842-7308. It should should ring into Amanda.

Comment by john doe on May 10, 2013 at 4:51am

I found 2 listings for property's with gas ,oil,mineral rights around Meadville area.

100+ acres @ 6250.00 acre

139 acres @ 7500.00 acre

I assume vacant land? I thought it was interesting.

Comment by john doe on May 10, 2013 at 4:44am

Referring to the Shell meeting in Greenville, The women who spoke briefly said they had phone number for anyone to call and actually speak to a human being,So my question did anyone there happen to get a phone number?

Could you post it please. 

Comment by sldouglass on May 9, 2013 at 12:26pm

I am just trying to be realistic Bob. As I have mentioned before, I do not think honesty is an issue other than the landman is not likely to try to fully educate a lessee as to all the ramifications. Less than a complete story will be offered-however honest.
x
And to consider the strength of the landowner, many times in need of immediate cash to be equal to the strength of the deep pocketed producer who starts with the most one sided agreement imaginable with highly trained people [landmen and lawyers and engineers etc.] whose obligation is to make the best deal possible ....

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