Caffey Group

Good Day To All:

                            I am new to this sight and would like to know some information !  I own 25 acres on Route # 428 in Sugarcreek  , Venango county , I am 2.4 miles from the Carter farm ( first  Marcellus well )  . Last week I was contacted by phone and talked to Mr Mike Parson from  The Caffey Group , he was interested in a lease on the property said I had no leases on the property at this time !  Fast forward to today and just got a call from Mr Mike Parson and wants to meet me tomorrow at my home ( he is in Franklin ) !!!!!  Has any one else had dealings with the Caffey Group or have been contacted ?  I thank You for your time .  Thanks Dave.............

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Permalink Reply by Jim Litwinowicz on February 15, 2012 at 4:22am

Depends on how it all plays out.  With three companies around you, you get in the middle of a bidding war...good news.  On the other hand, since they are all HBPd, they may wait years to develop deep horizontal wells.  A lot depends on the geology....how valuable are the petrochemicals beneath you. And how the current leases read....what size units are permitted if they are restricted at all. Jeff, look me up...I'll be there.

Permalink Reply by petej on February 15, 2012 at 9:16am

I will

For you and Schnoozie I will be wearing a red baseball cap.

Permalink Reply by Schnoozie on February 15, 2012 at 5:38am

I am coming to the meeting also, the Acreage held in our back yard by Seneca is more like 8500+ Ac. not 2000.

They are the biggest player with plenty of experience in doing this every day. If I was guessing I would look to see the others signing their rights to them, then seneca develops the whole thing. Being that their gianormous line goes right through the area, no other company has that access.

I would call Seneca first before signing anything. No matter what the fantasy sales pitch is. 

Permalink Reply by petej on February 15, 2012 at 9:18am

Schnoozie

see above and look me up.

Permalink Reply by Schnoozie on February 15, 2012 at 9:20am

I will be wearing a Purple Squirell Skin cap!

Permalink Reply by petej on February 15, 2012 at 9:22am

HA

Permalink Reply by matthew h mcsparren on February 15, 2012 at 11:55am

Seneca is a production co. owned by National fuel Gas. Seneca has over 1 million acres of mineral rights to drill. However the pipeline system is owned by NFG Supply corp. NFG can not favor one producer over another, this would be illegal and could carry a fine up to 1million dollars a day. Companies like NFG, EOT, Tenn Gas, and others go to great length to educate their employees on this law.

Permalink Reply by Dave on February 15, 2012 at 1:12pm

if you review seneca and their parents (NFG) last quarterly call (q4) 

you might need to read between the lines or tea leaves it seemed to infer that they did not need to lease at this current time due to the current land holdings (undrilled) they either own the rights or have them held by production

they too are decreasing rig count, read into drive down leases...

I believe Venango is a sweet spot however logistically we can have the same issues as some ohio countys with hbp and shallow drillers.

The tale of the tape will be when some shallow drillers sign and we see the need to unitize the land.

(Lawyers) will be on a feeding frenzy here soon

hence the song lawyers guns and money we will need all 3....

Permalink Reply by Schnoozie on February 16, 2012 at 7:48am

What law?? Federal State Local??

Fined by who??

Its their line they can do what ever they want with it.

Permalink Reply by matthew h mcsparren on February 16, 2012 at 8:36am

No they can not! This is regulated by the D.O.T. All producers will have equal access to natural gas transmission lines. Employes between the NFG and Seneca are given classes each year as to what can and can not be said to each other. Sounds silly but true.

Permalink Reply by Schnoozie on February 16, 2012 at 9:15am

I never knew that, I always figued that it was their line, they had to charge competitive rates for producers according to a scale or something. But if they wanted to tell a particular company to take a hike they could. Interesting.

I learned something here today Matthew, besides how I have the missed out in signing with a group, or lawyer group, a sewing circle gas discussion group, how foolish I am.

 

Permalink Reply by owner on February 15, 2012 at 12:50am

I was contacted by Caffey Group last week about my sandy creek property.  Their offer was $2250/acre and 12 1/2%  royalty.   

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