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Permalink Reply by Betty on May 10, 2012 at 1:25pm

where in PA are you?   We had a similar situation when we signed in TC -- but that was about 4 years ago with East Resources, Shell bought them out.  We were part of a group and after signing with ER, we received a letter from ER asking us to take a smaller bonus sign up with a larger royalty -- 2% more.   We decided to sit tight and eventually they came back to us with the original sign up bonus.  We played hard to get and have what we have decided as a good outcome, but I wonder how many people in that group decided to accept.   The price of NG is very low right now.   Consider your options.  The way we looked at it, it was all found money -- we never expected it when we bought our property and we made our choice.   BTW, we are part of a unit but no producing well.   Good luck to you!

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Permalink Reply by GW3 on May 10, 2012 at 1:59pm

We were part of the guernsey county ohio group .. The process as i understand is passed through different stages and final step is at shell in pennsylvania .. Good point on " found money " .   Im begaining to think its more of a curse than a blessing !

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Permalink Reply by Betty on May 10, 2012 at 2:18pm

LOL -- you're in the middle of the oil action then-- right?   We're in Tioga County, PA, all gas -- so things have quieted down along with the low price of gas.  I figure it's only a matter of time say 5-10 years or so :)   We bought our property about 10 years ago with the dream of getting away of the hustle and bustle of the big city, only to end up several years later in the middle of a big land grab and no real understanding what that meant.   We're learning that with the money comes the wells, compressor stations, water ponds and God knows what else.  Educating yourself and getting yourself a good lease is a beginning... only the problems also stem from old leases your neighbors may have.   It is conflicting... as a wise person once told me gotta take the bad with the good. 

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