Replies to This Discussion

Permalink Reply by Annie Miller on December 18, 2015 at 1:54pm

Eclipse is planning on drilling two well pads on property adjacent to ours starting the spring of 2018; this confirmed by me physically observing stakes in the ground stakes marking off edges of well pads, and from an email confirmation of said intent to drill. We have a Gulfport lease; so they are taking over our lease apparently.

Gulfport has no intentions of new activity in the near future, or till when gas prices rebound to former levels. So if Eclipse wants to drill and include our acreage in their unit, more power to them.

If you are anywhere near the northern and eastern edge of Adams township where Eclipse admitted they are going to drill; I would hold out for lease prices in excess of 5K an acre and 19% royalties; which is what everyone around here got 5 years ago.

Permalink Reply by jerry lee nichols on December 20, 2015 at 4:44am

Permalink Reply by jerry lee nichols on December 20, 2015 at 5:43am

I have a Gulfport lease that is tied up in court and I am in Center TWP on your NW border but I have not heard anything about Eclipse except that they are drilling on the Ohio/Lee line above Sardis.

Permalink Reply by Olive Sue on December 20, 2015 at 2:20pm

They have placed the business with Morgan Stanley for possible sale, this by rumor of course.  Think carefully before you extend on a five year term with annual payments.  If they should become involved in bankruptcy you could be "hanging" for some time.  Try them with a 3year term paid up front, and do not give a 1280 pool.  Just food for thought and oh yes if you have an Eastern Monroe group lease, you have a 115%renewal in dollars.  People with the Jennifer Garrison leases were advised by her not to accept a renewal, again according to rumor.

Permalink Reply by boop on December 23, 2015 at 6:07am

They have improved their offer. How do I friend you?