RICE Energy lease offer to Lease Wayne TWP/Greene County
Got an offer from Rice Energy to Lease Wayne Twp Greene County, which I am sure is motivated by their acquiring of bankrupt Alpha Leases. Anyone else getting offers from Rice? Anyone know if they actually did acquire the 27,000 acres of Alpha leases?
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Replies to This Discussion
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Permalink Reply by Mike Murphy on
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just remember u are on a triple play the Upper Devonian, Marcellus and the Utica so you should lease each one separately and receive leases and bonuses on each one and reserve deeper strata for later leasing......as far as I know the deal with Alpha is a done deal
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Permalink Reply by Paul Butler on -
The Rice purchase is not a done deal.
The minerals are to be auctioned and the auction has yet to be held.
The Staling Horse bid provides a floor for bids and guarantees Rice $3.5 million if Rice bid doesn't win auction. Check that number, I haven't had my coffee yet and that's off the top of my head.
Anyone that wants to follow the Alpha bankruptcy can do so at this link:
http://www.kccllc.net/alpharestructuring/document/list/4084
The whole thing stinks.
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Permalink Reply by Guy Smith on
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Thanks for the Info Mike Murphy. But Have you or Anyone actually gotten bonuses on THREE "Plays" Depths??
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no but there have been leases wrote for only one formation and the others excluded for future leasing .....and I am sure there are landowners that have more then one lease on there acreage if you get a good lawyer you should bring up leasing each formation separately and see what he says
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Permalink Reply by G.H. on
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You will likely get less of a bonus if you lease only one formation, but, if one or both of the other formations become big deals in your area then you may very well come out on top by leasing them separately. Some producers may say they want it all or nothing, I don't know.
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Permalink Reply by Joseph-Ohio on
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Thinking you've got a pretty good handle on it G.H.
Especially the 'I don't know' part.
I don't know how these guys are going to play any of it either G.H.
I don't think anyone does as far as all of this stuff goes really ! !
All we can do is guess !
How could we 'know' anything for sure (as we're all on the 'outside of the info. loop') ? ?.
Good luck to all of us neighbor - North, South, East & West.
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Permalink Reply by Lynn mudder on
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So far, we have been paid for two separate formations. A few years ago the Marcellus, more recently the Utica. We still have reserved the rest. Hopefully someday our kids or grandkids will be able to profit from those. Everything is negotiable, if not, just walk away, it will still be there.
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Lynn did the same company lease your Utica that leased your Marcellus?
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Permalink Reply by Lynn mudder on
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Yes, they did. These negotiations don't happen overnight. It's a long and tedious process. I'm not talking days or weeks. More likely many months of give and take. That's ok, only one chance to get it right, then you have to abide and live with it. If not, walk away.
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Permalink Reply by rmc on
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I have three serperate leases on my property in Greene county with three different companies.
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Permalink Reply by Lynn mudder on
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Good for you but would hate dealing with 3 companies. One is bad enough.
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Any advice for me? I have been leased for 3 years and nothing yet. Or so they say. It's hard when you don't live on the land and have to rely on what others say. Hard to know who to trust or believe. Especially when you live out of state.Could it be possible they are taking oil right out from under the parcels and not telling you?
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