lease offers

[lbpalmer]

We have been approached by three different landmen and the last offer was $100 per acre for ten year lease.
The companies invited the landowners in our area to the Unadilla Rod and Gun Club.They say they are only interested in the Utica shale.
There representatives have tried to sign people in Unadilla and I don't think they have had very good luck.
I am a member of CNY and would like to know how much land is signed in this township and has there been any other offers for us to consider.

[ocean113]

Sir
what were the 3 companies and if possible what were the offers.

[lbpalmer]

the three that have come to our home are lenape aspect energy and a firm from pa plp i think.
so far they have ranged from 50-100 per acre
I hope we have enough landowners signed with the cny in unadilla to be considered for gas leasing

[CarentzW]

We were approached by Whitmar with an offer for $50. per acre for the first 5 years and $75. acre for an additional 5 years
with a 13.5% royalty. This was in June. We turned them down, and have joined CNY. We live in the town of Hartwick.

[nifty50]

Regarding the question of how much land is registered with CNY Landowners Coalition for the Town of Unadilla, the answer is 3,150.

[hunter1919]

I Just hung up the phone with nornew 150.00 acre ,town of coventry and greene.

[edepots]

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.

Anybody else?

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.

[pondboss]

hang in there edepots..there is alot going on on both ends of the spectrum...remember billions are at stake..some of these gas companys will get swallowed by bigger gas companys..some are already in over there heads..we sit on top of the macellus and utica shale, big $$..so hang in there..it was a wonderful day today..they came to us,we didint go to them.

[edepots]

Thanks PondBoss for the encouragement. I am not going anywhere....just back to work. Another perfect day today...enjoy!!!!

[snbfarmer]

They are playing with your head and now they are getting the readers of this blog worried. This is small money to them. At $100 per acre the whole Marcellus can be leased for $3.4 billion, which is peanuts. As long as they are getting people to sign up at x dollars the bid will not increase until it has to.