They still don't exactly know the southern, eastern, and western boundaries of the shale. I certainly wouldn't take $300 dollars an acre. I tell friends and relatives in the "fringe" areas not to take an offer unless it is really good. It's hard to turn down money being offered, but that $300 could be several thousand in a few months.
Make sure you read the latest news releases from Cabot. I posted the link on the discussion wall. Landowners who are still unleased around the Katherine Von Goetz well may want to consider keeping in touch...especially where Cabot is concerned. Landowner just to the South of this well signed for $2000 sometime ago, no idea on royalty. My husband's family is not yet leased and have fairly significant acreage in this area. Latest offer from an independent was $1500 and 25%.
We have a 1/4 mineral interest with family owning the rest in 200 acres about 2-2.5 miles from this well yet have had no contact. Is this just these companies having what they need or should we expect to hear from someone soon?
Cabot is still leasing in this area...and the only company actually drilling in this area. At this time, there are three rigs drilling within 1/2 mile of the KVG #1. If you are an unleased mineral owner in the area, and are interested in leasing directly to Cabot for reasonable terms and getting into a unit, shoot me an email at email@example.com
Cabot picked up the majority of our close proximity holdings in the areas around KVG#1, while Devon picked up large tracts to the North and Northwest of that area. Southwestern grabbed up some to the East of the areas as well. Still no word on what is going on, but one of the wells showing on the TRRC site is on our holdings. The majority of the lease terms were written about the same with the bonus monies bouncing about the same level +/- a couple of hundred. My uncle drove by several of the areas and said all of our sites have things on them or near them. We are still waiting to hear if it is something big or just another "flash-in-the-pan" as with past leasing flurries.
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More