"Seneca will have all their wells plugged at their expense. You have nothing to worry about. "
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Jack Young
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Pleasants County, WV
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Butler County, PA
388 members
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Washington County, PA
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Elk County, PA
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Warren County, PA
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"With natural gas prices very low at present, leasing and drilling has pretty much slowed to a crawl. Clymer Township may do better than it was doing before the SWN-Seneca deal when prices eventually recover, but $5000/acre is a pretty decent offer…"
"I assume that Seneca still holds a good bit of acreage east of Sabinsville, so Jackie will need to work around them. "
"There are several big buyers active in the county now. If you check the latest deeds being recorded, you'll find that Seneca is one of them. Nobody knows what acreage in their core areas is really worth better than they do!"
"Seneca only started turning these wells into the line in mid-February. So March was their first full month, and some didn't even get a full month of sales then. Seneca seems to be getting consistently good results. "
"It sounds like there's some new leasing activity in Tioga County, particularly in the Lawrence Township area, but possibly in other townships too. None of this has been happening in townships where I have any open acreage, but it could impact…"
"That's right - the new wells will be pretty impressive. It's going to be a really big unit, and I'm expecting potentially the best production we've seen in the County to date. "
"Not sure that's accurate - both companies have used the same drillers on occasion. You can see the new permit maps on the DEP website and I suspect they'll be spudded soon."
"I suspect that those wells were never drilled horizontally, and Seneca now has new wells permitted on that pad which will be longer and with a slightly different orientation. So this isn't unexpected or bad news."
"Dominion and National Fuel have been slowly picking up leases on their storage field buffer zones for years. Why UGI didn't do the same is beyond me, as it clearly does put them at risk in a situation like this. My understanding is that…"
"If gas prices in our area recover (right now producers in PA get far less for their gas than the ones in Texas) JKLM could resume some limited drilling. But if they do, I suspect they will just lease what they actually need for each drilling unit…"
"Seneca isn't likely to declare giant units like the Painter just to hold acreage, and then drill only a well or two. Those mega units give people with land on the far side of the unit and contribute no gas to the well a share of…"
"Until about 2005, nobody in our area used paid-up leases much. You signed for an annual rental, just like a hunting lease, and got paid that amount every year until a well got drilled or the company gave up on the acreage. Seneca is trying to go…"
"So $115 per acre for each year of (I assume) a 10 year lease, no bonus (just the first year paid in advance) and a 50% cap on deductions against a basic 15% royalty?
If they try to keep their deductions low, this might still…"
"I haven't seen any permits applied for that would suggest new drilling up there. Southwestern may just be making some improvements on the existing wells they got when they bought the leases. But it's still nice to see someone paying…"
"The core Marcellus wells to the east and in SW PA are better than what we have. But our wells match up fairly well with the results just outside the core in both areas, and ought to be profitable if gas prices stay where they are right now and…"
Profile Information
- What is your role?
- Landowner, Gas Professional
- Which state(s) are you following?
- Pennsylvania
Comment Wall (6 comments)
- At 5:22am on October 16, 2014,
KAnderson said… Mr. Young, my brother and I are visiting some folks in Coudersport on 20 and 21 Oct and were wondering if we could buy you a cup of coffee or some lunch? We are Beckmans (from Francis and John Beckman of Coudersport) and have taken over the estate's OGM affairs. Not sure where you are located, but if it's close by, we'd love to get your perspective on some things if you have the time. I'm told the Beckman and Young families are actually related through marriage. A small world! My personal email is beckmanc@gmail.com if you'd like to discuss further.
- At 3:15pm on March 19, 2013,
chris barton said…
hi jack its been a long time try my number 412 271 9000 chris barton i look forward to catching up with you
- At 7:11am on December 1, 2011, Don Wiff said…
Jack: Thank You. We felt this was the siuation, but never had substantiation. What do you do to have all this info?
Thanks Again and have a wonderful Christmas.
Don
- At 3:30am on December 1, 2011, Don Wiff said…
Jack: From the most recent deed, it is part of Subdivision No. 348. The original deed is in Book 499, page 777. The most recent deed is in Vol 532, page 178-180. The land was originally purchased from an old Swedish estate of which two of the nine owners were children of the estate. It is used to enjoy nature, so I guess no matter how things turn out the original purpose will be preserved
- At 3:13am on December 1, 2011, Don Wiff said…
Jack: MIneral, gas, and oil rights for our property I do not know. We can't afford a lawyer to do the search. The courthouse woman said I could come in and search the deeds. Online I search them as far back as I could. I have to go into the courthouse to search back to 1940. Is there an easier way? My father always said the mineral, etc., rights are gone.
- At 2:16am on November 30, 2011, Don Wiff said…
Jack: Thanks. We have owned 52 acres for seventy or more years in the middle of the Nat'l Forest. Just wondering if we can get money from natural gas. No more timber for maybe ten years.
What is OGM?
Don
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pig dung replied to Theresa Kolk's discussion 'What's going on in your area?? any info???' in the group Tioga County, PApig dung replied to Theresa Kolk's discussion 'What's going on in your area?? any info???' in the group Tioga County, PA
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