Replies to This Discussion

Permalink Reply by paleface on August 26, 2014 at 10:19pm

http://www.thedrillingman.com/2014/08/wet-gas-under-tioga-county/

Permalink Reply by Tim on October 18, 2014 at 3:55pm

Hmmmm

Permalink Reply by Jack Young on August 27, 2014 at 2:20am

Remember the quality of the source here - these guys can't even write a coherent sentence and have spread nutty rumors before. The production data to date has shown no liquids from any Tioga County Utica well, and the btu figure reported to the DEP for the Gee well was very low. So what "data" these guys are referring to is beyond me!

"Data shows major liquids play under Tioga/Bradford County Pa - the data illustrates royalty checks will stop for a time, while producers retool export systems."

Permalink Reply by Frank Walker on August 27, 2014 at 10:15am

Understood and acknowledged.  Still, for landowners, something of this nature cannot be discounted.  Most of us were around during the (very) early days of the Marcellus.  We all remember the ceaseless and determined efforts of the gas companies to conceal from us the true worth of the play.  They treated us like mushrooms!  Now, of course, we realize concealment is just part of the game.  And the name of that game is MONEY!!

Permalink Reply by Jack Young on August 27, 2014 at 1:29pm

You have a  point, but the companies often do the opposite and exaggerate the value of a play to impress the stock market, and that sucks in landowners too. I know several landowners in western Potter County who read Penn Virginia's press releases and turned down their $2,600/acre bonus offer expecting it to climb. Now oil and gas rights over there are only worth a couple hundred dollars/acre if you're willing to sell them outright, and they will probably never have a chance to make real money off their rights again. This applies to county after county in the original Marcellus buy area - only a handful of areas proved to be profitable drilling even though the drillers claimed they were all good back then. It's a gamble either way, I'm afraid.

Permalink Reply by Gringo on August 27, 2014 at 1:53pm

Somebody got into the cat-nip again. Still waiting for all the oil D-man told us about. Didn't Ultra swap with Shell to get more liquid rich acreage, had they consulted D-man they would have know it was here all along.

Permalink Reply by George Donovan on August 27, 2014 at 3:32pm

There is a piece in Sharon twp NW Potter that was sold for $2000 an acre this week. You should see it recorded shortly.

I was told the buyers felt they were stealing it at that price compared to the $4000 to $6000 an acre that Chatham and Middlebury are bringing. I would guess they are speculating on Utica and Burkett.

Permalink Reply by Charles Randolph on August 27, 2014 at 5:07pm

Good to see you back on here George !!  Thanks for keeping us updated on your part of Potter, too )))) Was Pegula the buyer (using JKLM) ??? Was the parcel 50 acres or more ?

Permalink Reply by Charles Randolph on August 27, 2014 at 5:40pm

I saw a recent photo of a couple of your local producers speaking at OV. Good to see them bringing the younger generation into the fold )))

Permalink Reply by George Donovan on August 27, 2014 at 11:27pm

Charles,

No and yes.

Permalink Reply by Charles Randolph on August 28, 2014 at 12:12am

Drill, Baby, Drill !!!

Permalink Reply by Jack Young on August 28, 2014 at 12:36am

The odds of profitable Utica or Burkett in Sharon Township are very slim. We have over 4,000 acres there and it's been impossible to lease over the past ten years unless we lumped it in with acreage in a better area and insisted that the buyer take both. Whoever paid this price certainly didn't make a very good deal unless they got the surface as well or there was some shallow oil potential, but more power to the seller!

 

Why anyone would expect the prices for oil and gas rights to be the same as they are in Chatham and Middlebury over a county away is beyond me. The risk is so much higher in NW Potter County. If anyone wants to pay that price for our acreage in that area, I'm ready to sell tomorrow!  

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