TTLC lease sale

This (from TTLC) was in my email this morning:

 

Folks,

 

We recognize that we are somewhat late in keeping you up to date on our efforts. It is difficult to keep to a timeframe, and that is why we are reluctant to set hard and fast dates. We apologize for the delays.

 

Over the weekend, we sent the email below to about 30 interested parties that may be interested in our acreage:

 

“The Twin Tiers Landowners Coalition (www.twintlc.com) has almost 10,000 acres available in Tioga County and more than 2,000 acres in other PA counties for a total of more than 12,000 acres. The total acreage available free and clear of existing leases is over 10,500 acres as of May 15.

 

Including acreage currently leased, eighty-six parcels are over 30 acres totaling approximately 10,450 acres and averaging over 121 acres. Forty-two parcels are over 100 acres totaling over 7,800 acres and averaging over 187 acres.

 

Attached is a summary of Coalition Acreage in Tioga by town as well as other acreage in other counties. Also attached is a summary of lease terms that will be included in our lease.

 

Our plan is to conduct a competitive lease sale in the next month or so. However, we will consider offers in advance of the lease sale. If you are interested in making an offer, you must do so by May 7.

 

We believe that we have aggregated a significant amount of existing acreage available in Tioga County. It is likely that our sale will be the last time that this much acreage is made available at one time.

We look forward to hearing from you. If you have questions, call or email me at the contact information below.

 

Best Regards,

 

Greg”

 

As you can see, we have taken a new approach in trying to market the acreage. We are giving a chance to companies to make an offer before we move forward on a competitive lease sale. To date, we have received no indication of an offer, although it is much too early to expect one. This email and the attachments (Summary of Tioga acreage by Town, and Lease Terms) will be posted on the website in the next few days. The Lease Terms are essentially the same as the last proposed lease sale.

 

If we receive a legitimate offer, we will most definitely pursue it and let you know. At this point, we will not schedule a lease sale until past the May 7 date. We will be issuing a press release shortly about our above plan in case there are others interested, although we doubt it.

 

Let’s hope we can get a legitimate offer for our lands. We are doing everything we can through our contacts to market the lands.

 

The TTLC Team

 

Twin Tiers Landowners Coalition

2324 Stickle Road

Addison, NY 14801

(607) 329-2587

www.twintlc.com

 

Views: 145

Replies to This Discussion

Permalink Reply by Robin Jackson on April 21, 2011 at 1:50am
I don't think this will work..I'm thinking the NG industry won't deal with this group .Maybe I'm wrong.
Permalink Reply by Lynn Wigglesworth on April 21, 2011 at 2:19am
The problem I see is that they probably don't have enough contiguous land to form a unit. In Tioga Co., that means that the only company that would benefit from leasing this land is Shell (who has big chunks of leased land in many parts of Tioga Co), and they won't accept the terms. No one was interested last year, and since then, I think Shell has gotten a tighter hold.
Permalink Reply by Lynn Wigglesworth on April 28, 2011 at 7:56am
I was just wondering; how does TTLC know that all those 10,000 acres in Tioga County are still unleased? I've been on their list since last April or so...how do they know I haven't leased since then? I wonder if they check all the property owners against Landex? Or is it up to the landowner to notify them? I'm not sure I'd remember to do that if I signed a lease...
Permalink Reply by Ann Ticopa on April 28, 2011 at 11:48am
Iirc, they hired someone to map the properties prior to the initial sale.  My guess is that this time around, they'll wait to see if there is interest before they go to the expense of updating the properties DB.
Permalink Reply by Lynn Wigglesworth on April 28, 2011 at 12:26pm
I wonder how many of those 10,000 acres  are still unleased. Shell/East have recorded a LOT of leases in the past few months.
Permalink Reply by Ann Ticopa on April 28, 2011 at 1:35pm

If I'm interpreting the email correctly, 1,500 of the total acres are under leases that expire sometime after May 15.  It doesn't say how those leases split between TC land and the 2,000 acres of neighboring land. So, say it's proportional:  that's 1,200 acres of TC land with leases that expire after May 15.  And, there are an unknown number of acres that are under leases that expire before May 15.  Assuming those are leases the gasco(s) wants to keep, they can hbp or offer a top lease.  There may also be terms in some leases that give the gascos a grace period.  Plus, as you point out, the acreage of the andowners who have signed a lease but not noitified TTLC.  Total wild guess, but I would say maybe 7,500 TC acres were absolutely free and clear on  4/17/11.

 

 

 

 

Permalink Reply by Ann Ticopa on May 8, 2011 at 2:38pm
Anyone heard if there were any advance offers made?  (Deadline was the 7th.)
Permalink Reply by William Ladd on May 10, 2011 at 1:56am

Hoping to get some information TTLC in the next few days Ann. But I'm not holding my breath!

 

Bill L.

aka Bummy

RSS

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

Badges  |  Report an Issue  |  Terms of Service