Exco where are you?

Since Exco bought out a number of Chief leases I was wondering if anyone has heard of them doing anything in the county?     Which townships are they in?  Where are their rigs?

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Replies to This Discussion

Permalink Reply by David on March 11, 2011 at 2:49am
Exco is part of a large seismic project planned for the spring in southern Sully and Lycoming.
Permalink Reply by Thomas Cronauer on March 27, 2011 at 7:27am
The company who conacted us is an independent company who does the testing and sells the results to Exco as far as when we talked to them. So they are just trying to pay us $5 an acre and then sell the results to our lease holder for more money. Doesn't this sound too familiar like when they were all trying to buy our leases for peanuts and then turning around and selling them for a huge profit?
Permalink Reply by John Yonkin on March 27, 2011 at 10:26am

The $5 an acre is the standard rate the seismic companies are paying.  I am not aware of any higher rate in PA. 

J Yonkin

Permalink Reply by David on March 27, 2011 at 2:22pm
5 dollars is the standard rate for seismic testing and has nothing to do with your mineral rights.
Permalink Reply by Jeff on March 28, 2011 at 12:28am
Friends of mine from Forks Twp. have received a letter that their lease is now owned by Exco. My land is in Cherry Twp. and is still owned by Chief. Anyone else get a letter?
Permalink Reply by Richard Auden on May 4, 2011 at 4:39pm
Permalink Reply by Jeff on July 29, 2011 at 9:07pm
Finally some action from Exco.  On July 25 they filed for a stormwater permit for the Houseknecht pad in Davidson Twp.   Hopefully there will be many more to come.
Permalink Reply by Thomas Cronauer on July 30, 2011 at 3:17am
Did anyone get a letter from the Caffey Group?  They want to buy or lease with Exco for the time left on our lease and in turn they would royalties if a well was put in our property or the area of our property  was considered to be part of a unit.  They offered us $3840(I read where they gave $7000 an acre in other places)  an acre to buy our life of the lease that is left. They said when our lease was up with Exco it would be up with them also.  I also reas the Forksville Associated Press article where the Exco, Chief and theothers are coming the day or two before leases expire and putting euipment on the property and that was enough to extend the lease for the little amount offered.  I think in our lease it is $10 an acre.  The article said they are not renegotiating to let people get more bonus money.  I think we made a mistake not taking a 5 year lease which would automaticly renew for the second five years and get the same bonus money again.  I never thought that "operations" could mean setting a vehicle on your property.  Any ideas or thoughts would be appreciated!
Permalink Reply by Andrea Richlin on July 30, 2011 at 5:32am

If you sell them your right to your  lease and then the lease is HBP'd(held by production) on your land or the unit it is pooled with, Caffey group will hold that lease until the well runs dry or is abandoned. You have to look at lease to see if they would also be getting the rights to top lease to another  gas company , while the first lease is active. This would come into effect on  the lease if it runs out before production and the current gas company doesnt have the right of first refusal.  this link could be helpful http://www.mineralweb.com/owners-guide/leased-but-not-producing/top...

I also would make sure they are not also buying your right to extend the lease themselves to the current gas company that is the lessee.

Permalink Reply by joe on August 2, 2011 at 1:55am
tom where is your property located that the caffey group was interested in??? and has anyone had their 3d seismic study completed by geokinetics? thanks in advance for any responses!!!
Permalink Reply by Thomas Cronauer on August 2, 2011 at 5:03am
I am on Dutch Mountain Road in Lopez.  They are doing the study now on our property. Like I said they offered $3840 an acre but will only deal with 20 acres or more.
Permalink Reply by joe on August 3, 2011 at 5:31am
tom where is exactly dutch mountain road what road does it intersect with or a landmark that i would know would be helpful!!! Thanks!!!

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