Replies to This Discussion

Permalink Reply by craig on May 20, 2011 at 6:47am

Hi Nancy and welcome aboard!

I'm just North of you near Beaver Falls. From my understanding in our area the Marcellus is thin and not worth drilling (at least not now) and the Utica is thick (over 400' I'm told) which is what they are currently drilling to in South Beaver. I do know that the Marcellus is being drilled in Independence Twp, so the marcellus could possibly be thick enough your way as well. Also, Since Chesapeake is going only after gas with condensates and/or oil it is safe to say that is what the utica will bring them here. 

I believe the Marcellus is down at 4500' or so and the Utica is at 8500' or so. 

Hope this helps

 

Permalink Reply by Nancy LeNau on May 22, 2011 at 4:33pm

Craig,  Thank you so much for your information. It was very much appreciated  My guess for the Utica was 300 to  400 ft. of thickness...I didn't have much hope for the Marcellus.    Your information on the depthness was really appreciated !   I was off on that one.   (still learning)   Sorry, I do have another question.  Is there a difference of the money that you can make..... well on my property... verces a well on ajoining property ?   (If they drill?)  I hope I  have put this question so you can understand it.  Many Thanks to you !  You have been so kind.  Nancy

Permalink Reply by craig on May 22, 2011 at 6:20pm

Nancy, I really can't answer your question definitively, it may depend on your lease. I know some of the early leases in our area had a clause that if they drilled on your property that you would receive a bonus of I think $25,000. I have a no drill lease, which means if they want to drill on my property we will have to negotiate. If you have 100 acres leased, then drilling on your property could be an ok thing. However, if you have 25 acres and they drill on your property you will have to put up with a fair amount of nearby hassles for some time, with possible re-occurring drilling/working the wells. The royalty is where the money is, not in bonuses etc and the royalty is split fairly, unless  you were able to get a higher % royalty than others. I signed a parcel of land recently for $1500/acre and 15% royalty. I know folks nearby that got $1500 but only 12.5% royalty. 

You could be sitting in the drivers seat when your lease expires. Don't let anyone BS you into a cheap lease! IF Chesapeake finds(and I think they will) what they are looking for in South Beaver

then lease signing bonuses will go up. Do  your homework before signing a new lease and don't be in a hurry.  Of course you can push them too hard as well, and then they may forget about you.  One other thing, if you sign with a outfit that isn't going to be doing the drilling but selling/assigning the leases to those that are drilling,  you open up another can of worms.

 

 

Permalink Reply by Chaz Donald Lewis on July 13, 2011 at 4:43am

Hi Nancy,

I think I may have a good lead for you.

Are you thinking about signing or resigning a gas lease? Do you currently have a gas lease? Did you feel cheated on your last lease? Do you need help getting out of your current gas lease? Do you need representation? If so, Northeast Natural Resources Advisory Board is here for you! Northeast prides themselves in representing the individual land owner not the gas companies so you get top dollar per acre and the highest royalties for your land. Check us out at http://www.nenaturalresources.com/ or call us today at 724-359-5035.

Permalink Reply by Gary on September 2, 2012 at 12:24am

Nancy have you had any offer to renew your lease?

Permalink Reply by Nancy LeNau on September 5, 2012 at 2:47pm

Gary, We signed with Chesapeake last August,2011. Our neighbor signed about a month later and got a lot more !   Good Luck to you.........