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80 acres mineral rights sold in industry

Started this discussion. Last reply by Dexter Green Aug 13, 2014. 1 Reply

I just saw on Beaver county recorder of deeds site 80 acres in the berovich unit was sold. Only 226,000 ? Not leased sold seems awful cheap to me - Less than 3000 an acre already in a unit . It was…Continue

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watched people around here selling rights since 2006. Sold mine recently now it seems i am surrounded by wells.
What is your role?
Which state(s) are you following?
What shale plays do you follow?
Marcellus, Utica

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At 3:15pm on September 4, 2012, craig said…

OK, just spent some time deciphering the paper trail:) EIG is a very large US based ASSET Management Company, here's their website with news related info....  . 

Basically the company Jamestown Resources, headed by the CEO of CHK  Clendenon, that I believe holds his interests in some or all of the shale plays. I'd say he used his % ownership of each well listed in our courthouse papers to borrow money personally to shore up his own finances. He has done this many times before. There is no real downside locally as the paperwork seems to convey his royalty rights to EIG for an undisclosed sum.

Hope this helps. So it isn't CHK borrowing it is Clendenon selling his interests.


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