Crawford County, You are now HOT! What will you do?
Near as I can tell, right now we have 3 options;
1 &2) Join a group.
a) NWPA Landowners
or
b) CX energy.
3) Negotiate on your own.
To start this discussion, are there any other options out there?
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Replies to This Discussion
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Permalink Reply by Sam Douglass on
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http://shale.typepad.com/marcellusshale/initial-producti
There are always better and worse wells but this one does not sound too bad. A present value of $10.6 million for a well 3742 feet long [less than a mile drawing from less than 100 acres, maybe 50 acres] should support a decent bonus.
500 X 3742 / 43560 =
Initial Production
02/23/2012
Range Resources Designates Portion Of Marcellus Shale As "Super Rich"
Range Resources (RRC) has anointed a portion of the company’s Marcellus Shale properties in southwestern Pennsylvania as “super rich” due to the high BTU content of the production stream. The company estimates that the natural gas stream of wells in this area will have a minimum 1350 Btu.
Range Resources has 570,000 net acres located in southwestern Pennsylvania and estimates that 125,000 net acres are in this “super rich” portion of the Marcellus Shale. One recent well completed in this area had an initial 24 hour production test rate of 6.4 million cubic feet of natural gas and 1,266 barrels of liquids per day.
Range Resources has drilled and completed eight wells into this area and has released an estimated ultimate recovery (EUR) of 305,000 barrels of natural gas liquids, 95,000 barrels of condensate and 3.9 Bcf of natural gas per well.
Range Resources estimates that once in development mode, the cost to drill and complete a “super rich” well will average $4.7 million. The typical well will have a lateral length of 3,742 feet and fourteen hydraulic fracturing stages. The well is estimated to generate an internalrate of return of 95% using the current strip and a net present value of $10.7 million per well.
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Permalink Reply by 2z248p19vqnh9 on
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Jim - good point. TIME...you comment to Sam about the leases mentioned in his post are from 2008 or earlier...huh - now RIGHT AROUND the corner from 2014, and...
...wouldn't it be impressive to have that crystal ball (we DO - it's called the internet...but it STILL can't 'tell us the future' - YET...)? Hindsight is 20/20, is it not?...
...NOW, from what little I read - we may see what ends up 'heating up' concerning the Arctic Zone diplomatically...a new/old plate. Some things never change.
ALL good points made: thrust-perry-thrust...will indeed be interesting to compare/contrast June 30, 2012 to June 30, 2014, eh?...you were saying about Mercer Co.?...up, down, up, down...up, down. Squeak, squeak, squeak...the squeaky wheel needs oiled?
Time does tell. Physics prof. friend of mine, when asked if he believed that 'time travel' WAS possible replied in question, "Back in time or forward in time?"...then went on to say that going BACK in time - no, but FORWARD...yes.
Think about it - it makes sense: in the Bible - it only refers to present and future...not to past - because we CAN'T change the past. SO it is always best to FORWARD THINK. We are only 'masters' of our present situation, as far as 'change' goes...therefore affecting the future. The past IS 'written in stone'.
Interesting thought indeed...as one light lights another, nor grows less - so nobleness enkindles nobleness. Go Forth.
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Sam, thanks for posting this. Ever since I started looking at energy leasing, I've been looking for good details and analysis like this. Even given the big economic changes since these numbers were booked, it's good education to try to understand them. Even given the age, it's good input to the "What will the market really bear?" question, which is probably the biggest factor after "How many acres are in the pool?".
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Permalink Reply by james on
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I hear a company is offering $3900 19% in Northwest PA near Conneatville area, close to the Ohio line. This could get things rolling for Crawford County. Anyone else hear about these numbers?
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Regarding $3900 and 19%, James,...
I've heard some recent chatter like this, too. Perhaps even a bit higher on the numbers, but be sure to look at the term, too. I heard "7 years" in the same discussion. Note that $3500 for 5 years should translate to $4900 for 7 years. Also note that a company that admits upfront that it will take 7 years to get to production probably won't get you the big royalty flow bucks very soon, whatever the rate.
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I have "heard" this, too. I asked around and found out some information.
It seems they will not tell the landowner for whom they are leasing. The name of the company I got from a friend traces back to a Bonnie Cunningham. I searched the name on GMS - you can do the same.
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Permalink Reply by Ronald L Wilcox on
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WPGLC not part of the group your are discussing.Just new to this site and was answering someones question what other options.
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Permalink Reply by Ronald L Wilcox on
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Western Pa Leasing Consultants,they have over 3500 acres signed up in Hayfield Twp.You are invited to Little Corners church 7/12/12 6:00 to 8:30pm to see the map and sign up if you like.They have a lot of good points,but #1 is that you get payed look at ther web site,I don't know about you folks ,but if you can't find them on the web forget it.
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Permalink Reply by Berk on
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Area Shopper 7-7-12 pg-6
WANTED
WE need acreage
10 acres to 10,000
acres. $3900/acre.
19% Royalty. NO
C O MMI S S I O N
FEES!!!Need acreage
in Mercer,
Lawrence and
Crawford Counties.
814-464-3530
or 814-464-3529.
e m a i l -
jimstanford77@yahoo.com
T h a n k s - J i m
Stanford -
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