I am a landowner with approximately 50 acres in Warren County PA. I understand that many of you folks down in Butler County have been leased by Rex Energy. We are in the early stages of leasing (leasing started last spring).Last May, a landman representing Rex Energy dropped off a lease at my house and we talked for a bit, and then he went on his way. I didn't hear from him again. I didn't contact him, I figured we'd hear from him again and maybe discuss some adendums to add to the lease. Many of my neighbors up and down the road signed the lease and have received their bonus payment. Now that my neighbors have singed the lease, Rex has not been around the area to lease anymore property. My question is, "Have I missed out on an opportunity to lease my property now that all of my neighbors have signed? There are approx. 1000 acres up and down the road leased. Will they still want my 50 acres or have I missed my chance. I know that history repeats itself, and I figured it to be best to ask you fine folks down in Butler County what you think because of your experience with dealing with Rex. Thanks in advance.
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Rex was signing up bargains last spring. First offers are not the best (except for the driller). I am in Warren Co also, had the same offer last spring. They will be back, Rex ran to Ohio to make some cash. Rex has so much land here held by production with the old shallow vertical wells, they are in no real hurry. I suspect that in the next 4 years (or sooner, but in 4 years they will be looking at paying again to those who signed last year) we will see more activity from Rex.
Sye, I sent you a friend request on here, it is Jed not Jeb.
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