Comment

Comment by Joseph-Ohio on March 12, 2013 at 1:21am

petej,

A solid approach / tact the way we as landowners see it.

Majors should agree.

Large so-called landowners marketing groups may pose the most resistance to the approach as it means effort on their behalf to subdivide the acreage prior to putting it 'on the street'. 

I perceive that most landowner groups are only interested in gathering acreage in their pool and selling it off.  

It seems to me that they don't want to be bothered with the complexities of getting involved in setting up sensible drilling units. 

It seems to me that they don't want to do any work at all beyond gathering signatures at a few miscellaneous meetings. 

They don't seem to care one bit if what they're selling makes sense. 

Sign the landowners and let the landowners and the majors hash out the details seems their single minded approach. 

It all sounds very simplistic / juvenile / immature / stupid if you ask me - but that's the way it seems to be. 

It's a complex set of circumstances being over simplified to favor the marketing groups who don't seem to be doing enough to earn the money they're paid (whatever amount is involved).

 

Comment by petej on March 11, 2013 at 3:45pm

Bob J., Sam D. and all,

Let me start with the fact that we were "rejected" Mt. Jackson 4 members very close to the Crawford county line. Our family has land in both Mercer and Crawford counties and are very interested in these developments. Please do not ask about the lawsuit as we are not prepared to get into that and no, we are not a party involved.

Next, while I am not a geologist, I am educated in the sciences (masters degree).

As for Mt. Jackson 4, I thought from the start that Mercer county should be divided into thirds based on the geology that was known at the time - "dry gas se, wet gas sw to ne and oilly to the nw". Initially, I thought this may happen ( IMO ). Then, when things began moving forward very quickly and it was to be the entire county and ~ 60,000 acres... I became very nervous. My gut was right.

Before all of this, I proposed a phrase to nwpalog and the Mercer county group ( both in person ) that never caught on - " Think big then go small". If you look at my older posts you will see that I have brought this up earlier. To join a "group" of 40,000 to 60,000 acres s fine but, IT SHOULD BE MARKETED IN SMALLER PARCELLS IF NOT CONTINGENOUS (sp?) . This kind of acrage spread over an entire county the size of Mercer and/or Crawford with different geology and marketed as the same is insane.

The marketing should be done on a twp by twp or max. 4 twp basis at the maximum. Given enough interest, I will elaborate on the geology.

In my opinion, the ideal situation for each landowner ( as I am doing now ) is to place yourself in both a 640 acre unit and a 1280 acre unit running nnw to sse and evaluate your situation. Consider newly leased and old lease (hbp) vs unleased , the geology involved and the o&g companies involved. My brother and I are less than 1 mile appart ( east to west ) and have VERY different situations.

Please, use power in big numbers but, market the power in small units. THINK OUTSIDE OF THE BOX! The best of luck to ALL landowners.

Petej

 

 

 

Comment by rex roae on March 11, 2013 at 1:49pm

$5,000 an acre and 20%?

I'll sell 46 acres in East Meade Township with all unleased ogms for $4200 an acre.  Even has probably $25k in timber.

I believe that $5k an acre bonus figure is dreaming but if anyone really believes it,here's your chance and you get the land and timber to boot.

Comment by john p halloran on March 11, 2013 at 1:27pm

They're saying it won't affect Crawford county.

Comment by Bob Jenness on March 11, 2013 at 11:39am

Sam, and all,

I, too used to believe that $5000 and 20% were reasonable estimates of the upside values.  Now, I have to ask some specific questions before I get the smile it used to bring...

1. Of all the drillable land in Crawford, what percentage is HBP by RRC, Shell, Chevron, and Hilcorp (plus any others that join their cartel)?

2. How does that compare to the "grouped" and "ungrouped" acreage yet to be leased?

3. What percentage of a market in the hands of a single "cartel" is enough of a critical mass to allow them to control the market?

4. If the percentage is above the critical mass, how and when will I ever expect to see the above numbers, which were predicated on a free market eventually coming to Crawford?

5. Do any or all of the groups have any ideas on how to "compete" with this 800 pound gorilla in our living room?

Anybody want to post summary and/or analysis of the Mercer Co. Lawsuit?  Any speculation on what that will do to CX future prospects in Crawford?

Comment by Berk on March 11, 2013 at 4:58am

Mercer county Lawsuit front page Meadville tribune today

Comment by sldouglass on March 10, 2013 at 12:39pm

Consider a subscription:

http://www.marcellusinstitute.com/Marcellus_Fairway.html

Comment by the two of us on March 9, 2013 at 12:59pm

I would agree with sidouglass on 5000/20%. That is reasonable . Just have
To get some more wells drilled before we see that.

Dave, no I was not at the auction.

Comment by sldouglass on March 9, 2013 at 12:24pm

The local appraiser can tell you what your land is worth [without the minerals and oil and gas]. Probably no one can tell you what the oil and gas are worth with anything close to accuracy since it could be a very long time before the gas-oil is exploited and a dollar a long time from now is not worth much today. Bonuses should be in the $5000/acre range, more or less - particularly when the producer gets several stata including the non-shale stuff. Royalty in the 20% range. Current low prices are irrelevant.

Comment by David Hunt on March 9, 2013 at 11:25am

OK guys sorry if I started something here with my $500.00 offer. What I was trying to do is get my point across that the land is not worthless and we are all blessed to own property here in Crawford County. I was being sarcastic when I said I would pay 500.. It bothers me when people are not thankful for the what they have! Land Is at a premium in my opinion so don't give it away 

Again sorry for stirring the pot. 

It appears DKD responded several times but for some reason I can't view them Why?

The two of us, Did we talk at the auction and on the phone since? 

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