Pa. bids for shale-gas land lower than elsewhere
"On the same day last week that Pennsylvania received bids averaging more than $4,000 an acre to lease state forests for natural-gas drilling, the city council in Fort Worth, Texas, approved two gas leases on municipal land.
Fort Worth got $5,233 an acre - 30 percent more than the Pennsylvania Department of Conservation and Natural Resources did.
Though Pennsylvania officials were ecstatic about the bids last week for 32,000 acres of public land, Chesapeake Energy Corp., one of the successful bidders, agreed four years ago to lease 18,000 acres of the public land beneath Dallas-Fort Worth International Airport for $10,000 an acre, 150 percent more than Pennsylvania got"
From Philly.com
http://www.philly.com/philly/business/82034397.html
Views: 1153
Replies to This Discussion
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Permalink Reply by David Wheelis on -
The economy was in a completely different state at that time. Natural gas was significantly higher, the other shale plays (haynesville/fayetville) were not yet off the ground and going.......
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Permalink Reply by terry hazlett on
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I like you're thinking James, as more wells get drilled and proven( providing the economy does'nt tank again) lease prices should continue to rise closer to the realm of what our land is worth! And you're right the holdouts will get a much better price than the people signing now.
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Permalink Reply by David Wheelis on
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The Marcellus shale production rates are nothing compared to the Haynesville.....
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Permalink Reply by terry hazlett on
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The Marcellus is twice what the Haynesville is or ever will be 10 Mmcf isn;t as good or better than the hayneville? were just not proven as the industry likes to keep using as an excuse, although thats changing every day!
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Permalink Reply by Edgar Simmers on
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So why are the leasing companies not responding to my inquiries regarding leasing of my land? I would think they would be breaking my door down to get me to sign at todays offerings!
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Permalink Reply by Brian on
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Depends on where you are located and how much land you own. Each company is concentrating its efforts right now in specific locations.
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Permalink Reply by David Wheelis on
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10 Mmcf is not better then the Haynesville.....
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Permalink Reply by terry hazlett on
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Maybe not yet ,but there has'nt been that many marcellus wells drilled yet,and in pa we won't know for a few more years how well they really produce, due to a law that they don't have to release production numbers for 5 yrs, and the marcellus covers more area than the haynesville, so more recoverable gas.
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Permalink Reply by David Wheelis on
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Agreed. I've worked in all the major shale plays and thus far, production has been better in the Haynesville. The Marcellus, however, will be a stable, long-term play. I've seen many people become over-night millionaires. Most of them good, down to earth and hard working people. It is quite nice to see people whom have never had anything in their life, to now have financial security. Hopefully they make the right choices...
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Permalink Reply by Brian on
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I'll take a stable, long-term play any day. I think they are still learning about drilling in the marcellus, and figuring out what works best. The wells should continue to get better as they get better. What worked best in the Barnett, or Haynesville may not work as well up here.
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Permalink Reply by terry hazlett on
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I'm amazed at the IP numbers of Ranges verticle wells in washington co,they have seemed to perfected the multi stage fracing process, and yes this is going to be a long play ,maybe 50 yrs, and its good to see hard working people in PA finally get a break! As long as the gov keeps they're noses out of the process, things should go pretty well.
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Permalink Reply by justin clouse on
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Let's see what Chesapeake's CEO Aubrey McClendon thinks..."the Marcellus is twice as Profitable as the Barnett and Fayetteville Shale and 50% more economical as the Haynesville." HE seems pretty smart being a CEO of the 2nd largest gas producer in the US and all... Refer to page 10 of the attached Oil and Gas Investor PDF file
- Attachments:
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OGI_2009-08_marcellus.pdf, 5.6 MB
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