edepots wrote:We live in Smyrna and Nornew is drilling near us, coming over the hill from Lebenon. When they first approached us this Spring they offered us $50. per acre and 12.5% realty. Three or four weeks ago they increased it to $80. per acre. We said no and have joined the coalition. They have completed a vertical well up the road from us (what a convoy of trucks and equipmnet!) that I have heard is very succesful. The week before last a new land man came an said Nornew is msking a last push through this area and had a new package to offer us $2,500 per acre and the same 12.5 % royalty. To say the least we were shocked. Again we said no. (Gulp). Yesterday they came around wanting us to sign a seismic testing lease. And once again we said no. Who knows what will happen next. They say they are not interested in the Marcellus Shale. The permit for the well up the road says they are after the Oneida/Herkimer play.
Hi All...I wrote this August 1st. Two days ago I was in Norwich and stopped into Nornew's office. I spoke with a gentleman who was rather shocked when I quoted the price per acre we were offered by their landman in the middle of July. He said he needed to check into this because Nornew NEVER offered that much per acre. He called today and said that the landman had denied ever offering us this amount. I have his business card with the offer handwritten on the back. He wanted to come up to our house and see the card. I called Chris Denton and his office said to make a copy and show him the copy. The Nornew man never came by. But he did say on the phone that Nornew will not stand behind this offer. I asked him what if I had said yes and signed...he said they would have to pay. But now they won't. They also made this offer to a neighbor of ours who also did not sign.
Soooo....we have gone from 2,500 per acre over five years to 100 per acre. We never intended to sign, but I must admit that one does start to think about their future with a little bit of hope. Now, I am not so sure. I an finding I don't believe anyone. The numbers we have been tossing around are so far out of my realm that I do not believe them. BUT.....it was a gorgeous day today and I still love living in upstate NY.