Can anyone tell me recent amounts of $igning Bonus/Consideration per acre in Tioga County, PA?

I've been offered $500/acre + 15% royalty for a five (5) year lease on two parcels I own in Tioga County, PA. It seems low to me but I don't know the going rate of late and would love to. Can anyone share with me any recent amounts of $igning Bonus/Consideration rates per acre in Tioga County, PA? Thanks in advance.

Views: 11338

▶ Reply to This

Replies to This Discussion

Permalink Reply by Trapper on October 18, 2014 at 2:55pm
I know the last big group Co-eXprise signed to Hilcorp pays a % of their royalties to Co-x for the first 5 years they are produced. This was the group signed around October 2011. This is in addition to parting with some of their bonus as well. Details were discussed here on GMS at that time. Jim Litwinowicz was the Co-eXprise rep.
If memory serves they got some beneficial clauses like a vertical Pugh clause also.
Permalink Reply by Nancy LeNau on October 18, 2014 at 3:26pm

Trapper,  I think you are correct.  I signed Aug. 5th 2011.  I would have never signed this agreement.  Many Thanks for this update !   

Permalink Reply by Rich on October 18, 2014 at 10:34am
I agree with you Elliemae!! 20% gross no deductions!
Permalink Reply by Darrell Weaver on October 18, 2014 at 10:39am

WHO is Travice Peak....................I am in North Central Tioga County going round and round with Shell now my current lease expires 11/5/2014

Permalink Reply by paleface on October 18, 2014 at 11:06am

 Travis Peak - Lease agent Jason Sokira (607-331-7444 ) this is an agent that sent me a lease. I heard Jackie Root is forming a group asking 2500-15%-5yrs. no deductions.

Permalink Reply by Darrell Weaver on October 18, 2014 at 11:39am

And what is their cut...............?

Permalink Reply by paleface on October 18, 2014 at 11:57am

 Don't know I didn't inquire on either one.

Permalink Reply by Landowner on October 18, 2014 at 10:31pm

Last time my husband talked to Jackie she was talking about $6000 per acre.  The rep from Travis Peak that stopped here was named Aiden something or other.  He said they were interested in drilling an exploratory well and if that did well they would probably sell their lease holdings to another drilling company.  He also left a standard lease with us to look over - I feel sorry for the poor devil that signs that one. 

Permalink Reply by elliemae82 on October 19, 2014 at 4:50am

I have no problem with someone getting paid to negotiate a deal. But Landowners need to be aware that there are many people ready to take advantage of their good fortune any and every way they can.

Permalink Reply by Landowner on October 19, 2014 at 8:19am

Yes! I hope people are smarter than they were 10 years ago - we certainly are.  Jackie Root has been doing this for a long time now.  When she first started down this path she was working with Earle Robbins from Penn State Co-operative Extension.  Greevy & Associates out of Lycoming Cty. work with her on legal matters/leases, etc.  She is on the up and up and works to get the best possible deal from the gas co.

Permalink Reply by Janice L. Hancharick on October 19, 2014 at 7:08am

Be sure to get a Release of Lease document from Shell after the 5th and have it recorded @ the County Recorder's Office, if you decide not to renew with them.  A lot is happening now.  It's the beginning all over again.  Decisions will have to be made just like last time.  The difference ... folks are a lot smarter.

Permalink Reply by Thomas Lilli on October 19, 2014 at 7:25am
Why wouldn't the O&G companies just drive a stake in the ground and call it production rather than going through lease negotiations especially given some of our early lesses were for pennies on the dollar?

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service