Crude Oil Prices

This may have been discussed already, but I am meeting with the folks wanting to lease my farm in a little bit.  A quick question.  Is the drop in the crude oil prices affecting Marcellus drilling?

Thanks, Denver

 

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Permalink Reply by LewPa on January 9, 2015 at 5:45am

DD

Not sure about the price of crude but I would guess the nosedive of the price of natural gas sure does!!  Price of my gas royalties from Rex energy in Oct 2013 - $3.61, Oct 2014 - $2.17 MCF. The gas drillers are cutting their budgets which would equal low ball lease priceing now unless they really need your property to fit into a unit.  My two cents, LewPa

Permalink Reply by Dan Warner on January 9, 2015 at 6:31am

Maybe.  

What you can be certain of is that the landmen will say it is.  

Permalink Reply by Bill Barnaby on January 10, 2015 at 5:38pm

I see you have 500 acres in the prime location in the utica/marcellus, best I can do is $500 an acre.

/land man

If their lips are moving, they're lying, and if you can tell they're lying then need more training!

I'm sure they will tell you things to buy it for less.

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