Replies to This Discussion

Permalink Reply by myles fetterhoff on September 28, 2012 at 10:13am

Yes my neighbor been contacted

Permalink Reply by RichR on September 28, 2012 at 10:26am

Did he have any details?

Permalink Reply by Samuel J. Orr on September 28, 2012 at 12:08pm

Believe I read someplace on this site that Range Resources controls 191,000 acres or just under 30% of all acreage in Crawford County. Did anyone else see that post? Does anyone know the source of that information, and whether it is conceivably true? If it is true, has anyone seen a map to know where the acreage held by Range is concentrated? Crawford County is a bit over 1000 square miles in area or a little over 640,000 acres. I know this is not a direct reply to the thread, but I do think that answers to the questions I have posed might determine where Range might wish to acquire additional acreage. I suspect that they may be more interested in the westerly 1/2 of the county, but I have no data to support what is just a guess on my part.  

Permalink Reply by RichR on September 28, 2012 at 12:23pm

I believe Range may be most prevalent in eastern Crawford Co. and northern Venango Co.  Much of the drilling that has happened here since the '80's  was started by Cabot and eventually evolved to Range.

Permalink Reply by gary smith on September 28, 2012 at 1:10pm

cabot is in on it now. reliable source says they own 50 % of utica. they sold the rest to range in the 90's.

Permalink Reply by Tim Tarr on September 29, 2012 at 12:06am

Sure seems RRC wants the "old" oil fields along with Marcellus in W. Pa.

I smell Oil and it's a very strong smell. Pennzoil, East Resources; et al were playing a waiting game. Marcellus will pay for the hive and the oil is the honey. The question is just how much honey (oil) there is. I think there is more, alot more than thought a few years ago. All those 3D seismic (very expensive) were for oil, not the Marcellus but what is above it.

Permalink Reply by Samuel J. Orr on September 29, 2012 at 3:48am

This is very speculative but I was told that perhaps a very small percentage of the oil was recovered from western Pennsylvania with conventional wells starting with Colonel Drake in titusville. I was told that technology exists to somehow repressurize these old wells. Not sure what one would do after that. I don't know if they would be sealed and new wells drilled. The person who told me this is not an O&G man but he is a genius and very well read. I know this post sounds like science fiction. Nevertheless, getting gas from shale, and having technology that would allow horizontal legs to be drilled from a vertical shaft would have sounded like science fiction only a few years ago.

Permalink Reply by Ronald L Wilcox on September 29, 2012 at 8:35am

I reported that Sam and I wish to correct that statement,in the notes from the Eastern Oil&Gas Conference Trade Show,Walker(CEO?)said Range was drilling a well in the utica in Northwest Pa. and another in Oct.From this data they would make a decision to proceed by the end of the year.He also mentioned the 190000 ac and after rereading it  he said NWPA.NOT crawford co.At any rate Range shows their holdings on a map of crawford co with about half of the outer edge of the co.from the south to the north all to the east.

Permalink Reply by Sam Douglass on September 29, 2012 at 9:11am

A permit or well down the road is a story often heard.  

That helps get the landowners stirred up and thinking about getting rich - ready to lease their properties.

Know that a permit, or even drilling of a well or two does not make a drilling program.  A large percentage of permits simply die of old age after a year without being used.  A well here and there in the Crawford County area is likely to just be exploratory - maybe just a vertical well to get a better look at what is there.

Even if something were capable of being produced, what would they do with the stuff?  Some pipeline rights of way are just being acquired.  And the stuff the comes out of the ground has to be sold in pieces at different prices: there is the methane [dry gas - too much available at the moment], maybe some oil, ethane [waiting for a multibillion plant that might be built in Beaver County someday], propane, butane and this thane and that thane.  Where is the infrastructure? When will it arrive?  Where are producers now concentrating dollars?

Their job is not to make landowner's rich.  Producers must answer to their unforgiving stockholders for the highest possible profit.  Landmen work for producers.

Permalink Reply by Sam Douglass on September 29, 2012 at 3:54pm

Most of the companies are slowing down lease and land acquisition to concentrate on production to keep their financial houses in order.   You can bet that they want your 10 acres and need it if they are coming to you.  

I tell people that perhaps the optimum is $5000 per acre bonus for a 5 year primary term and a royalty of 20% - with as few deductions as possible.  Most are satisfied with less and only a few press for more.

The Range lease is definitely a producer lease with not much consideration for the Lessor's long term interests.  The lease will contain a statement emphasizing that Range only agrees to pay on dollar on signing.  There will be a clear provision that states bonus will be paid if it like your title, if the weather is nice, if someone gets up on the right side of the bed etc.  But I would guess that they really want to put your land in whatever pool of leases it is creating or it would not be talking to you near the end of the budget year.  Get at least some part of the money when you sign up - maybe 10% or $5000 or more for your time and trouble.

Permalink Reply by Berk on October 31, 2012 at 10:10am

I've been contacted by Range twice now. Each time they have presented me with their 5 page one sided lease. I sent their land man a list of items that would be a must before I would consider a lease with them. He emailed me back and said he would forward my concerns and requirements to Range. My question-- has anyone out there had any luck getting a good leased signed with Range or am I wasting my time?    

Permalink Reply by gary smith on November 4, 2012 at 6:52pm

take it easy jesse. yer sitting on your future.

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