"Nancy's evaluation sounds right. Most older leases cover all depths, so the deeper formations were probably assigned by the company that has the shallow well. If that is right, terms of the original lease control the deeper formations as well.…"
"Walt, my guess is there is nothing you can do. Sounds like you did not sign a paid up lease, but a delay rental lease. Under a delay rental lease they can choose to continue the lease by making an annual payment for your agreed-upon $ amount and…"
"I would agree with that right now for sure, but maybe in the future it will be used. Right now, as you say, I am sure they are concentrating their time and resources on locking up as much of the acreage they have under lease as possible."
"I have heard that these companies, if they want to, can go back and refrack a lot of these wells and obtain production numbers close to the original production. I am yet to see that reflected in my royalties as far as I know, but I hope to see…"
"If they are different units you should receive another division order. If they are in the same unit I would think you'd still receive another division order if the new well was not part of the original division order, but I am not certain."
"Correct, it is hard to know exactly what you could get for it without actually knowing what you own, but a price of $2500 per acre seems low. The 30 days could be a pressure tactic, but it could also be because the company would want to…"
"David, I don't really disagree with your points of view. I agree, with the caveats that sure money today is worth more to some people than "maybe" money in the next few decades, there is always a slight chance that your property…"
"I agree with you Deutchen, to not even consider selling (for the right price) is, to me, foolish. If you consider it and then come to the conclusion that it's not for you, then that is one thing. Tossing aside a GOOD offer without…"
"It's common to add an addendum to amend the royalty. I believe it's so that they don't have to go through and change the full document every time. They are proposing to pay you 15%. There are usually two options,…"
"As others have said, yes, you can do it. If the original lease is still in effect it will be considered a top lease, to take effect when the original lease has expired. The question is whether the underlying lease/original lease is still…"
"Sounds like you got a pretty good deal! I am hoping to get an offer soon in Hanover twp.Washington county Pa. It seems as if activity is on the upswing in our area. It is not very far to Jefferson county Ohio either.It is strange how companies do…"
What makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen.[ Read More ]