Replies to This Discussion

Permalink Reply by George Brown on March 3, 2012 at 2:08pm

Joe, there is a lot of hype out there, but I got $3250 and 18% and that's not hype, that's reality.

 

I wouldn't take anything less than $3000/18% so if you're being offered that or lower, hang tight if you can afford to do so.

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Permalink Reply by Moe on March 3, 2012 at 2:11pm

George,

 

Where is your land located?

 

Carl

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Permalink Reply by JOE mCcLOSKEY on March 3, 2012 at 2:12pm

Where are you in the area?

Who was your lease with?

Most impotanatly have you got the money , or as I am hearing a draft and awaiting payment?

Thanks, Joe

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Permalink Reply by George Brown on March 3, 2012 at 2:19pm

Venango County, Irwin Township. Royal Dutch Shell (aka RDS).

Yes, I have only the draft at this point. Based upon the language in the lease regarding payment, I should receive the money on or before April 15th.  I'll certainly let everyone know if I do not get it, but I have not yet heard of anyone who signed with Shell who has been stiffed. The damage that would do to Shell's reputation would far out weigh the money they would save by not coming through with the cash.

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Permalink Reply by JOE mCcLOSKEY on March 3, 2012 at 2:26pm

Yes, very true.

But Shell is no longer leasing here. :(

 

 

 

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Permalink Reply by George Brown on March 3, 2012 at 2:57pm

You're right, they are not, but don't give up hope.  I turned down a $1500/acre lease offer three years ago (not from Shell) and then no one was leasing for nearly two years!  I was kicking myself for not having taken the $1500 offer.  Then, low and behold, Shell became active in Butler county.  My property sits on the Butler/Venango county line so I called Shell and basically said what about me?  They said no because I was in Venango.  I convinced them to cross the line and the next thing you know they were offering leases all around lower Venango. Things were going gang-busters for a while.  I gave a verbal commitment to Shell for $3000/acre and 15%, then they called me back a few days later and said Merry Christmas, we just raised our offer to you to $3250/18%! They wrote so many leases they were stacked 4 feet high by 2 feet deep by about 10 or 12 feet long!  All of these needed title work so Shell fell way behind.  In the meantime, gas prices have continued to fall so I think Shell is taking a breather right now.  It probably also has to do with that new cracker plant being discussed for Ohio, PA or WV.

We're in a lull right now but let's see what happens when they plant location is announced, Shell catches up on the title work and summer comes.

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Permalink Reply by Terry W. on March 3, 2012 at 3:00pm

Joe,

Got my money, and my new car fully loaded.

My son got his money, and a Ford F150 XLT red, sharp

My daughter got her money, and a bike (her husband is at the wheel)

can't wait till the weather gets better.

My daughter in law is in the process.

My neighbor and family members in final phase (should have signed by now)

I was able to meet with them and talk about their lease, and recommedations.

Shell, 3000/15%....with no deductions

current negotiations are at 3250/18%....with not deductions

All is going well...we have the wet gas, are considered being in the 'fairway'

sitting on a 'gold mine' and will be considered 'wealthy'.

Now, I don't see anything wrong with any of that!!

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Permalink Reply by George Brown on March 3, 2012 at 3:05pm

I wanted to mention you got yours but thought I'd protect your privacy.  I'm glad you jumped in!

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Permalink Reply by JOE mCcLOSKEY on March 3, 2012 at 3:24pm

With whom? 

Shell is out of the picture.

 

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Permalink Reply by Dave on March 3, 2012 at 3:09pm

shell is going to be pretty busy when they buy range resources

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Permalink Reply by 2s72s0k9mm8gd on March 3, 2012 at 6:34pm

Shell buying Range........now that would be a Huge deal!

I've been thinking that when the smoke clears , the Big Guns will be the only ones left standing.

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Permalink Reply by 2s72s0k9mm8gd on March 3, 2012 at 3:16pm

Is Shell really done leasing in Venango County ?

Things sure change fast in a few short months.

Lawrence County PA

Shell @3000 / 15% no deductions

Paid Jan. 2012

No Hassles , No B.S.

Have no idea when I'll get drilled but Shell is extremely happy with the Patterson site that's 2 or 3 miles from me as the crow flies.

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