Greene County, PA oil & gas discussion group. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil and gas news.
For anyone interested, Greene County Pennsylvania and surrounding counties is in the heart of the new age gold rush but for gas. Fracking has opened up a massive land rush by oil compainies and mineral speculators who are pitching everyone they can locate. The one to watch closely is the "we'll pay you $$$$$ to buy your land or lease". This precludes the owner from the potential to "lease" the property to an oil company which can offer both a yearly lease payment plus if a well is started and produces, royalties on what is produced. Happened to me which is what caught my attention when a mineral company wanted to pay a very large amount of money for just the oil and gas rights on what Had been considered worthless land in the past. Now a portion of that property is producing upwards of $635,000 in royalties. Unfortunately I am only1/3 of 1/7th so not much to me yet. But had I sold, it would have been a one shot deal then nothing. So...sellers BEWARE!
I have a well in Springhill township that just went online sept 24 2013 driller CHK. Still waiting on DO and a royality check. In case anyone else is in this well unit would be nice to hear your experiances to date.
I am looking for an attorney that will handle the heirs mineral rights situation for me (us). I have contracted one since my mother was approached by Consol. I advised her NOT to sign the paperwork they were giving the heirs. However, she has since passed on and the attorney I had acquired has done nothing but sit on his hands. Any help would be greatly appreciated.
Update for wells in Greene county. EQT and Consol are closing individual wells on a well pad. There are 11 wells on my pad, I own 6. EQT has cut production of 2 of the wells to 1 day only. Others in the area have reported similar situations and some even that they had wells shut down.
Cause...open for discussion. To enable the wells to breathe an regenerate, to cut back on production due to low prices, to cut back due to lack of storage etc.