Replies to This Discussion

Permalink Reply by jen wunderlich on September 6, 2014 at 11:53am

We have 2 acres in carter camp and have been called many times to lease in the past 3-4 months. My husband and his family want to sign. I do too I am just not sure why they seem to be pushing us to sign if by all reports that I read on here wells are not producing. Or if there is a well started? I would like to take lease to lawyer to read over but at this time can not afford to. Has anyone else been approached by tenaska to lease recently? We have never signed up before. Missed out when they were offering $7500 for both acres because my father inlaw refused to sign at the time:(

Permalink Reply by Jack Young on September 6, 2014 at 3:49pm

The company is trying to assemble a unit for drilling a test well near there, and they need to get certain properties under lease to do that. So for them it's not really a per acre question, it's more can they drill there or do they have to adjust the unit to work around you. Nobody knows how their wells will turn out - Ultra's wells nearby weren't great, but you never know until you give an area like that a try. They won't drill on your 2 acres, so there's very little downside to leasing.

Permalink Reply by peter gottlund on September 24, 2014 at 1:08am

My wife just completed negotiations with Tenaska. Four years, $500/AC., 15%.
Jack is correct about acreage. You need to decide what seems fair. I will say that it would seem unlikely that anyone will return to lease mineral rights for the foreseeable future if Tenaska fails to assemble the acreage for a unit. Successful drilling and royalties are another thing altogether.
Has anyone in Abbott Twp. been approached/signed right of way agreements for future gathering lines?

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