Beaver County PA Land Groups

Are there any Beaver County landgroups? Any info on offers available? When will any drilling start?

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Permalink Reply by Jon Laughner on July 22, 2010 at 4:04am
Heard today from a property owner in eastern Beaver County that had just been approached by Range to renew a lease about to expire. The offer was for $500, 14%, 5 years with a 3 year extension.
Permalink Reply by Shaler on July 22, 2010 at 4:14am
That is consist with what I have seen and heard about.

Is there big pressure to sign?
Permalink Reply by Jon Laughner on July 22, 2010 at 6:44am
I don't know, but will follow-up. Please review the lease and get the addendums you feel are important in there now. If they really are pressured, maqbe you can get more protection in this version.
http://www.naturalgas.psu.edu if you haven't checked it out already has lease contract info in the "Publications" tab.
Permalink Reply by Shaler on July 22, 2010 at 6:45am
Hope every saw the Range class action settlement in the Post Gazette almost $29,000,000??? !!

What is going on with that?
Permalink Reply by Jason on July 27, 2010 at 8:11am
I saw and read that story. I wish the writer would have disclosed how they found Range shortchanging its leaseholders. Someone (attorney general?) must have reviewed their books. $29,000,000 is a lot of money considering they just posted a $9,000,000 second quarter profit.
Permalink Reply by Joe Baran on July 27, 2010 at 4:19am
Any activity near Potter Twp?
Permalink Reply by Dale Foster on July 18, 2011 at 3:58am
Looks like the Mt. Jackson group has negotiated a deal with Chesapeake that includes Potter.  I'm checking it out now.  $2,350 bonus and 15% gross royalty, minus fees to Co-eXprise.  I don't know what the fees to Co-eXprise will be - does anyone know???
Permalink Reply by craig on July 18, 2011 at 4:56am

Since i got slammed on my last post on the Mt Jackson grp situation I will refrain from posting what I know. However I will tell you that at least one member of the group is upset because he tells me that Co-exprise wasn't supposed to collect any fees unless the members received $3,000 or more per acre....according to the original agreement. Call my friend a liar, but that is what he claims.

Hopefully someone else in the know will post the absolute truth about the situation.

I hear there are 3 meetings scheduled sometime in the next two weeks.

 

Permalink Reply by Dale Foster on July 18, 2011 at 5:18am

I spoke to a rep at Co-eXprise this morning.  He did not mention anything about the $3,000 acre minimum (no surprise there), but indicated that folks signing up now will be charged 8% of the bonus and 5% of the royalties, versus folks who signed up earlier (5% of the bonus and 0% of royalties).  Still sounds like a decent offer.  I'm just taking this offer at face value without preconcieved notions of what's what.  Adjusted for the 8% fee, the sign-up bonus works out to $2,162 per acre, and the royalty would be 14.25% of gross. 

How does that compare to what is actively being offered in Beaver Co.?

Permalink Reply by mark o on July 18, 2011 at 7:39am
8% and 5% is nuts. go straight to the companies and you will get a better deal.
Permalink Reply by Sam Douglass on July 18, 2011 at 3:18pm
Think abut whether you need anyone to make your deal for you.  Someone may be making a lot of money.  Is there a cap on how much these guys make?
Permalink Reply by Jim Litwinowicz on July 18, 2011 at 5:24am

There is some debate about the fees. Co-eXprise's agreement states they get paid a percentage "upon the completion of a Negotiation Event."   A separate clause states that should negotiations result in a bonus of $3000/acre with a 17% royalty and agreeing to the lease language or "a revised lease agreement that captures the substance of the attached sample lease agreement" than the Owner agrees to execute the agreement.

 

This means that the owner agrees to sign should those three stipulations be met. Co-eXprise gets paid their commission if someone agrees to sign any offer that they have negotiated, even if it falls below those stipulations. But the owner has the option to not sign.

 

Thats the first I heard about three more meetings being scheduled

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