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$500,000.000.00 lien on property, Thanks to Chesapeake !
12 Replies

I had a very interesting talk with my neighbor yesterday.  This is in Hookstown, PA.   15050.  When she applied to refinance a new Mortgage at a lower rate the bank did a title search and it came…Continue

Started this discussion. Last reply by Money Bags Apr 18.

Seismic testing in Hookstown... HELP ?
169 Replies

We had a man  come to our farm  today and wanted us to sign papers to let them do Seismic testing on our farm.  The mans name was Mike Allstead from SEITEL, out of Monaca, PA. He offered us $5.00 per…Continue

Started this discussion. Last reply by craig Jan 8, 2013.

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Latest Activity

Nancy replied to Jack Straw's discussion 'Jack's Picks VI'
"Oh WOW Jack !   You are Truly Wonderful !!!!  THANK YOU !!!!   Daniel and I both THANK YOU !!  God Bless...."
6 hours ago
Nancy replied to Jack Straw's discussion 'Jack's Picks VI'
"Oh My Jack !   Trying to understand this all.  We are farmers and I just want my Husband ( who is ill ) to see the Grand Canyon .  That is his wish.  Thank you for all your help !   God Bless you for helping everyone !…"
7 hours ago
Nancy replied to Jack Straw's discussion 'Jack's Picks VI'
"Jack Straw,  I seem to read almost everything you write !  I am learning so very much.  Thank you.  I would Love  to hear what you say about my part of the area. I have a farm in Hookstown, PA.  Beaver County.  We…"
7 hours ago
Nancy replied to Jack Straw's discussion 'Jack's Picks VI'
"Thanks Jack Straw !   Sorry about your Lumbago......  I will start working a bit harder on collecting my kindling and splitting our wood !   Good thing my new hip is in Great working order !  HA HA    God Bless...."
yesterday
Nancy replied to wandering juju's discussion 'we are buying land, farms, minerals, leases in your area' in the group Marshall County, WV
"rmc,  Welcome to Heaven , W.V. !   Good Luck and God Bless.....  RON,    Love... That Song and you sing it Very Well !   HA HA ...."
yesterday
Nancy replied to rob's discussion 'Lawrence County'
"Rob, I agree with Rich and Hiker !  Wait for them to come to you.  The Best of Luck to you and God Bless.   "
yesterday
Nancy replied to jason irvine's discussion 'should we drill under the river'
"I am with Jason....  Why take the possible chance ?  NOT..... worth it.  The poor Ohio river has already had too much damage from us.  Ask the fish ? "
Tuesday
Nancy replied to Jack Straw's discussion 'Jack's Picks VI'
"Great Information !   Thank you, Jack !   "
Tuesday
Nancy replied to Jack Straw's discussion 'Jack's Picks VI'
"Interesting question, Trapper !   Looking forward  to Jacks reply.  "
Sunday
Nancy replied to Frank Walker's discussion 'Shooting Range - Is there any validity to this?'
"elliemae, I  look for that to happen ( switching from Diesel to Nat. Gas ) in the near future."
Sunday
Nancy replied to Jack Straw's discussion 'Jack's Picks VI'
"Thank you Jack Straw !  Great information."
Oct 23
Nancy replied to DONNA M SELLERS's discussion 'thinking about selling mineral rights..'
"Donna,  Ron just gave you some great advice !   Good Luck and God Bless... "
Oct 23
Nancy replied to Monte Zane's discussion 'Can anyone tell me recent amounts of $igning Bonus/Consideration per acre in Tioga County, PA?'
"Welcome Darlene !   I have been on this site for Many years and have learned so very much about making the correct decisions for my future.  Before this site.... I knew Nothing !   You are going to learn so much information it will…"
Oct 23
Nancy replied to Frank Walker's discussion 'Jackass "science" - Here is what we're up against'
"Jack Straw,   Nice write !    Thank you.... "
Oct 19
Nancy replied to Monte Zane's discussion 'Can anyone tell me recent amounts of $igning Bonus/Consideration per acre in Tioga County, PA?'
"Trapper,  I think you are correct.  I signed Aug. 5th 2011.  I would have never signed this agreement.  Many Thanks for this update !   "
Oct 18
Nancy replied to Monte Zane's discussion 'Can anyone tell me recent amounts of $igning Bonus/Consideration per acre in Tioga County, PA?'
"Yes Chris, That is correct. I was with the first group and they took a % of our bonus  $ .  The 2nd group, my neighbor had to pay double of what I paid  of the bonus $... but no sharing of the Royalties.  "
Oct 18

Profile Information

What is your role in the Marcellus?
Landowner
Which state(s) are you following?
Pennsylvania, West Virginia, Ohio
Introduce Yourself
I am trying to find out what shale plays are under my property. Also the depth and thickness. I know the Marcellus and Utica are there but I am now told there might be another and also possibly oil ? My gas lease will be up in Sept. of this year. I am just trying to find out more information to help me decide what to do about my next possible lease and what my mineral rights are worth.

I was contacted by an attourney. He is looking for people to sign with him for Chesapeake who have not signed any lease yet. The offer was $2,800.00 and 17 1/2. This offer was for Green Township in Beaver County.  Today is Sept. 26th, 2011.

Comment Wall (3 comments)

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At 10:05pm on March 9, 2012, Dave said…

thx nancy

drill baby drill-and kick it the right (vertical then horizontal)

At 11:35pm on August 5, 2011, craig said…

Thank you for the kind words. Life is one big lesson, the day you quit learning is the day you essentially die....at least that is the way I see it so far. 

Just heard good news about another surveyed pad in my area....they are getting pretty darn close!

I see you have conversed with Mark O.....he's a good guy as well.  

Hi Mark if you see this!

 

At 11:27pm on May 24, 2011, craig said…

Nancy,

There is no difference in royalty payments between a property with a well, or a property without a well. Royalties are based on the % royalty stated in your lease(or 12.5% state minimum) and the percentage of acreage you own in the declared unit. 

Here's how it basically goes:

A well is drilled and a unit is declared for that well only. The unit will consist of all properties that the gas co. feels will be drained by the well. Now if you have 76 acres leased and all 76 are in the unit and the units' total acres is 760 acres, then you effectively own 1/10 of the total unit acreage. Lets say the well produces $1,000,000  per month of gas.... then what the unit holders will receive is 12 1/2% (or what is in your lease) of $1,000,000 which is $125,000/month for all 760 acres. Now you have 1/10 of the total acres of the unit, so you would get $12,500/month or about $165/acre/month. In reality I have seen folks getting their initial checks that was for $300+/acre/month!!! There have been checks at $50/acre/month as well though. 

If your lease is for 15%, as mine is, then you would get 15%. All leases could be for differing %'s as well. To throw another monkey wrench into things here's another scenerio...I know someone who was just included in a unit in Ohioville/South Beaver. He has leased 250+ acres, however they are only taking .4 of one acre in this unit. So he won't get royalties on 250 acres, only 4 tenths of one acre. The downside is his lease expires May 2012 but since some of his property is in a declared unit, the whole leased property is tied up and it won't expire, so he will miss the $$'s and opportunity to re-lease next year. The upside is that they are drilling right there, and will probably be drilling close again and including the rest of his property. 

See, there are all kinds of wrinkles in leasing gas rights.

Have a good day!
Craig

 

 
 
 

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