Time for Lawrence Co.?

I heard from a very reliable source that Lawrence Co. is getting its 1st well started this week.  I am more than a little shocked that it has taken so long.  Does antone know of any other wells being started in the area? I mean..there is tons of talk about leasing, but the real money is if you get an actual well.  My husband & I own 265 acres.  We appreciate your input.

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Permalink Reply by Elnathan Cory on November 15, 2010 at 6:23am
265 acres! Do you have a lease?
Permalink Reply by JoKlause on November 15, 2010 at 6:44am
No lease yet. We are joined together with a group of landowners, and working on it. I think its up to $1800 an acre now. One man in the group is doing all the leg work. We have a meeting at his house this thursday and a Lawyer will be present. But still my question is..once leasted..is the wait 3-6 months, or a year or years til a well gets drilled?
Permalink Reply by Elnathan Cory on November 15, 2010 at 8:13am
This waiting to drill time is uncetain. People I have talked to in Butler County signed leases 3 years ago for next to nothing and now they are getting wells drilled. Others have waited only about a year. It depends on the company and the infrastructure to get the gas to market. They could drill right away and cap the well for future use and your royalty would be zero. Hold out for more money. Rest assured there are going to be a lot more investors from all around the world heading to the area.
Permalink Reply by Mike Knapp on November 15, 2010 at 8:06am
JR,

These companies don't ask for (and pay for) 5-10 year terms for no reason. If you were to get a well in the first couple of years, you should consider yourself extremely lucky. Lawrence county is not the hottest area for Marcellus,hence why there haven't been many, or any, wells drilled there to this date. If the Utica is found to be viable, then the Marcellus rights along with the Utica rights may be able to increase the value, but until more exploratory wells are drilled, no one is really going to know for sure how it's going to pan out.

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