Replies to This Discussion

Permalink Reply by Bonnie M on October 19, 2009 at 4:46am

Scott where in Tioga County are you located? Are you leased now and they want to toplease?

Permalink Reply by Scott Wilcox on October 19, 2009 at 5:13am

Near Wellsboro. Have not signed any leases. Thanks.

Permalink Reply by Lynn Wigglesworth on October 19, 2009 at 6:12am

I'm also near Wellsboro (in Delmar Township) and got a letter from East. It will be interesting to see what they are offering. I've heard that they've been offering $1500/acre and threatening to go around people who didn't take it. I'm ready to lease, but not at that rate. They offered my neighbors $2300/acre last year.

Permalink Reply by Brian Day on October 19, 2009 at 12:06pm

I currently have an old lease with East that will expire in February of 2011. It has a pew clause (not sure about that spelling) that limits them to 7000 feet. I do not plan on renewing with them at this time unless they increase their offers substancially. Also, they seem to have applied for and recieved many drilling permits, but are not drilling nearly as much as other companies in the area. Perhaps it is time to organize anothe consortium of land owners in Tioga County to discuss top leases or better leases from other companies. I have heard that Furturna is interested in expanding their holdings in the area. They actually hold quite a bit in Tioga County already. Dominion is doing quite a bit in the western and south western sides of the county. Ultra is busy near Gaines. It doesn't seem to me like East has dealt very fairly with its landholders and I think there could be a great deal of competition from companies who are actively drilling if people wait a little while and stick together in Tioga County.

Permalink Reply by Bonnie M on October 20, 2009 at 12:05am

We are in Lawrenceville with the Howe well being drilled at about 2 miles from us. We are leased with East ($60/acre) until March of 2011. We joined the R&R consortium last year to no avail. They are doing nothing for Lawrence Township at all. We were hoping for a top lease on our property but nothing and no consortium here. We have heard that they had applied for a vertical permit on the Drake property but have decided not to drill as it is too close to the NY state line, with the NY state regulations right now. IF anyone hears of a consortium other than Next Energy, whom we received a letter from and did not care for the wording and stipulations, please let me know. Thank you!

Permalink Reply by Lynn Wigglesworth on October 27, 2009 at 8:54am

Unfortunately there is very little competition in Tioga County. I talked to Fortuna, but they are only working around the edges of the country near Lycoming and Bradford Counties. I just spoke to Ultra, and they are only working in the western townships of Tioga County. Anything they lease in Shippen or Delmar is on the same terms as East and would be a joint venture with East. East seems to have most of Tioga County sewn up; they know they are the only game in town and don't have to offer much. All we can do is hold out for something reasonable and hope they need our land.

Permalink Reply by Brian Day on October 20, 2009 at 2:44pm

Myself and several other people in the Keeneyville area were not satisfied with the R & R proposal, so we had started trying to negotiate through a man called Capolliaze before the economy collapse. We had a pretty good block of land pulled together with a pipeline through itat one time, but some landowners lost heart, needed the money, or just plan caved in. There is still a pretty good chunk of land between us hold-outs, but it is more patchy. Futurna holds some leases on missing pieces of the patch work. Rumor is that they may be interested in making a top lease offer. They made an excellent offer to a consortium in Bradford County, I think. The odd thing is that both Futurna and East are subsidiaries of a large Canandian Company called Talisman. Futurna seems to be more actively drilling. Perhaps they have better financing. As for the Next business, I have been meaning to call them just to get more information, but have not found the time yet. When I do, I'll post what I have learned. There is bond to be more offers like them, legitamate or not, in the future. If you are interested in more contacts on the group we still hold together, I think you can send me a private message to my in box, although I have not used that function yet and don't know how myself. I doubt it would matter much if your land ajoined ours in general negotiations.

Permalink Reply by Bonnie M on October 22, 2009 at 10:03am

We would be interested to hear what is happening if they have any meetings or offers. Thank you!

Permalink Reply by Tom Copley on November 7, 2009 at 7:52am

Brian-- I think you meant Fortuna, not Futurna. It is a sub of the Canadian company Talisman Energy. Also, East is privately held out of Warrendale, PA. The wiki can be a valuable resource for checking facts before posting. --Tom

Permalink Reply by Theodore Koncsol on October 22, 2009 at 5:58pm

Our current lease is with East. They contacted us and apparently are getting ready to drill on us in the very near future. Just hope they don't take out my hunting spot.

Permalink Reply by Bonnie M on October 22, 2009 at 10:00pm

Where is that Theodore?

Permalink Reply by Theodore Koncsol on October 26, 2009 at 6:34am

Near Covington. We met with our attorney this weekend to discuss our options on how to handle income from this. It is mind bogggling the information and numbers that were discussed.

Apparently East is going to be starting this spring, putting in the pad.

I heard that there are places close to Troy that are fetching close to 1 million per month in royalties on the wells. Granted they have several wells but WOW.

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