Replies to This Discussion

Permalink Reply by Zachary D. O'Brien on October 6, 2010 at 10:13am

I have some friends in Peters who signed and were paid on their leases. That was over the summer. The lease was with Range Resources. I can not remember off the top of my head what exactly they received per acre, but I know they were paid in July 2010. Where exactly in Peters do you live?

Permalink Reply by E. Progar on October 6, 2010 at 12:28pm

Thanks Zachary for the reply. I have 16 acres in SE Peters near the Village of Hackett. Antero Res. offered $1750 per acre bonus plus 18.5 royalty. They withdrew the offer in August saying they were moving out of the area. My farm is next to a large farm parcel of around 300 acres. Chesapeake made the first offer of $450 acre bonus and 12.5 % royalty. I understand that Antero sold acres to Dominion. I heard that Peters isn't too interested in having drilling in their township.

Permalink Reply by Zachary D. O'Brien on October 7, 2010 at 1:51am

You’re absolutely right. Most if not all of the companies have retracted the contracts in Peters Twp. The reason why is because of all the regulations that the Twp. has stipulated on the drilling companies, i.e. frac ponds, compression stations, and storage.

Permalink Reply by E. Progar on October 7, 2010 at 10:18am

I believe there will be drilling in Peters only if the Township permits drilling on Township property.
I don't see this happening soon.

Permalink Reply by E. Progar on January 17, 2011 at 8:23am

I just received an offer (01/17/11) from Chesapeake $2000/acre bonus with 18% royalty and 5 year lease. They said they have a site ready to drill. The location is in Venetia the SE corner or Peters Township. The previous offer from Chpk was $475 bonus/12% royalty. They are ready to sign. Has any one else received offers in Peters Township?