Replies to This Discussion

Permalink Reply by Lynn Wigglesworth on February 7, 2012 at 5:06am

As you know, I'm already leased. But I'm curious how much land is still available and how much companies are offering to lease it. I hope TTLC releases the information eventually.

Permalink Reply by paleface on February 7, 2012 at 11:01am

 What was the responce the last time TTLC put the land out for bid? about a year ago.

Permalink Reply by Lynn Wigglesworth on February 7, 2012 at 11:27am

No one was interested in leasing the properties. Part of the problem, from what I heard, was that a lot of the property on TTLC's list had already been leased, so was no longer available. You'd think they would have checked before they put it out for bid; it sounds like they are confirming what's still available this time.

Permalink Reply by Ann Ticopa on February 7, 2012 at 1:55pm

Except ... no company applied to become a qualified bidder, so didn't receive the list of TTLC parcels.  I always wondered about the terms of the non-compete agreement the companies would have had to sign.  Did it prohibit them from independently (of the TTLC) leasing any property on the list for a given period of time? 

Permalink Reply by paleface on February 7, 2012 at 3:09pm

 The gas company's have a map of all the land in the county which shows who is leased and what companys there leased to,they could probably get a pretty good idea what land is unleased,or if there interested in those parcels. 

Permalink Reply by Ann Ticopa on February 7, 2012 at 5:25pm

Sure, they knew which properties weren't leased - or were leased but the leases hadn't been recorded yet. But they didn't know which of those landowners had signed up with the TTLC.

Permalink Reply by paleface on February 8, 2012 at 4:47am

 I think TTLC. motivated the gas companys to sign the propertys they wanted before TTLC. signed the people,Shell was pushing pretty hard there for a while.

Permalink Reply by Lynn Wigglesworth on February 8, 2012 at 5:03am

I got a message from TTLC last June, after the last attempt, that said

"We had an unacceptable offer for less than the entire acreage in the Coalition. Additionally, the company told us that 3500 acres of our total were already leased."

Permalink Reply by Ann Ticopa on February 8, 2012 at 6:57am

That's interesting.  I'd have though, that long after the auction had no takers, even more landowners would have gone ahead and leased to SWEPI. To clarify, is it correct that the property was put out to bid only once, in Sept. 2010?

Ever get any details of the offer terms and/or what part of the acreage the prospect wanted? 

Permalink Reply by Lynn Wigglesworth on February 8, 2012 at 8:57am

No; it was offered again in April/May 2011. I thought the lease terms were pretty outrageous, and no company would ever go for it. And none did. 

This is a summary of the lease they were offering:

http://twintlc.com/Documents/TWIN%20TIERS%20LANDOWNERS%20COALITION%...

Permalink Reply by Ann Ticopa on February 8, 2012 at 10:47am

According to the April 2011 update on the TTLC website:  "At this point, we will not schedule a lease sale until past the May 7 date. "  My interpretation was that if they didn't get at least two positive responses to the email,  it was unlikely there would be a competative sale scheduled.

Agreed that the Pugh and 18% royalty without deduction were unlikely to be acceptable.