Replies to This Discussion

Permalink Reply by J Landowner on August 12, 2014 at 1:35pm

So what effect will this have on the possible cracker plant in Beaver?

Permalink Reply by buggs on August 13, 2014 at 6:36am

None

Permalink Reply by Trapper on August 12, 2014 at 2:17pm

I am in Lawrence COunty , leased to Shell and , I believe , a part of this deal.

Isn't Rex a pretty good company to deal with? It is my understanding they are very active in Butler County.

Permalink Reply by Jon on August 12, 2014 at 4:24pm

Rex has 72 of the 150 wells in Butler County, as of December.

Permalink Reply by johnny on August 12, 2014 at 6:16pm

Oliver, this is tremendous news! I see the Rex drill sites in my daily travels...it would be nice to welcome them to northern Butler County!

Permalink Reply by Jack Young on August 13, 2014 at 2:58am

Look at the price being paid - deduct the wells and reserves, and this values the leases at something close to $400/acre. That's certainly not an endorsement of the area's potential. The idea that nobody was willing to pay more is pretty worrying.

Permalink Reply by DMS on August 13, 2014 at 3:52am

Perhaps it's nothing more than none of the other companies who already have a vested interest in Butler County were willing to pay $120 million in Cash...  Nothing to worry about as far as I am concerned...Shell has been unloading assets all around the Globe since their new CEO took over earlier this year (i believe that's when)!

Permalink Reply by NP41 on August 13, 2014 at 6:18am

The price may also be based upon the percentage of leases that will need to be renewed with additional bonus payments in the next couple of years.  These extension payments may also be higher than current market standards so in some cases this purchase provides them with the first position to renegotiate with the landowners on the amount of an extension fee. 

Permalink Reply by RB on August 15, 2014 at 7:04am

There ya go, Oliver!  Great news. 

Permalink Reply by Philip Thackray on August 15, 2014 at 7:20am

SWEPI to Rex looks like good news indeed!

What was/is the name of the landowner group that negotiated with SWEPI for some of the leases that Rex is acquiring?  Was there more than one landowner group?  Was there a common lease and if so, is a copy available?

Phil

Permalink Reply by Philip Thackray on August 15, 2014 at 8:10am

Matthew,

I friended you.  I have a 10 acre parcel in Adams Township.  A Landowners group was formed and we are working on a common lease.  I'm also trying to get a copy of the ALOV lease (Ohio) that I hear is quite comprehensive.

Was BCLG the only landowners group up your way.

Phil

Permalink Reply by Philip Thackray on August 15, 2014 at 11:25am

Matthew,

I knew that you lived out of town.

I appreciate your help.

Thanks again,

Phil

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