5 years later...
Been a long time since the last post here. So, every ones lease has been gone for 5 years now with no interest shown in new leases. Potter County, Bingham Township. Anyone have any new news on our area? Something is going on less than a mile away on the other side of the road, not our property though.
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Replies to This Discussion
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Permalink Reply by Becky Smith on
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I got a lease 2 years ago in Bingham from JKLM. What do you see going on and where?
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Permalink Reply by Lori Wood on
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Right off the intersection of Gee and Collins hill road, things are set up, land has been flattened. Maybe UGI
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Permalink Reply by Tim on -
With JKLM not leasing or drilling, Potter County has quieted down. I am trying to sell my minerals in Oswayo, in case either of you know of anyone.
Eventually, higher nat gas prices will bring back the leasing and drilling, however, we need to see a substantial drop in natural gas daily production before that happens....and we also like to see operators be very disciplined when the price does go back up, and they don't over drill again and flood the market with too much natty gas......
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Permalink Reply by Thomas L. Ayers on
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Until the price point of nat gas returns above $3 or so and the election is over, the results of which will determine the fate of fracking in the US, I wouldn’t hold my breath on any leasing in Potter County. Our JKLM leases expired in Jan 2020, and there has been no contact at all. My understanding of JKLM drilling is that other than the well near Sweden Valley (104U), they have halted everything until prices improve. For that pad, they have appeared to have capped 1 well to cut production because of gas prices. Gas prices are currently on the upswing, thank God, but IMO there are numerous headwinds in this industry that must be addressed before JKLM or anyone else is willing to lease again.
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