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LEASING GROUP GROWS WITH WOES
LEASING GROUP GROWS WITH WOES
Reporting on the progress of the 4-County Gas/Oil Leasing Group is like trying to nail down a twister! For members of this huge group of rights' holders, and those still wondering, it is still a work in progress. Time (sometimes viewed as the enemy) has proved itself to be on our side. From the 3rd meeting in October 2008, when we learned our bid offers had been dropped due to the plunging economy, many went away mumbling "Oh, if we had just signed a bit earlier ...". Then newspapers reported that many of the great leases garnered east of us had been taken back by the companies. THAT is woeful news! We all know when the promise of big money comes along, some folks start spending, or paying off bills that could have waited a little longer. It quickly became apparent that 4-County's non-leasing venture woes were a blessing in disguise.
This "twister" has continued to spin, growing in AC size weekly since that Saturday in '08 ... in PA and NY. Dollar amounts per AC have also grown since then, as we saw when near-by state lands were leased this year. BIG BUCKS! That makes some people drool and others shake in their boots, as the latter fear what could possibly happen to the beautiful countryside.
Leasing is definitely a two-sided coin, and 4-County Group members realize that. As state/federal rules and regulations are up-dated to make safe drilling practices the law, our lease continues to evolve and go above and beyond the "norm" by expanding the environmental addendums and reclamation clauses, because the need is obvious. For the segment of rights' holders who frequently wonder about dollar figures and royalty percentages, they must realize that for the long haul ... the decades the Marcellus play is predicted to be in action ... we must all be mindful of protecting our other natural resources. 4-County Group rights' holders have always had those thoughts in mind ... making the most of this "once in a lifetime" opportunity. We put dollar amounts and environmental issues on a level playing field.
Our 4th meeting, scheduled for 11:00 AM @ the Baptist Church in Shinglehouse on March 27th, will continue to be a learning experience for those who attend. Certainly the public is encouraged to attend as well as group members. PSU's Tom Murphy has provided a wealth of take-home materials from his Marcellus Center office covering all aspects of developing and living with Marcellus shale. The information also covers the financial side, above and beyond dollars per AC and royalties. The reality is the bank material that will also be on hand will provide food for thought ... perhaps for the first time in your life you'll need a financial planner! A lawyer's offering might give you pause to cover all the bases, and do wise estate planning. Rules are changing. 4-County's leasing timeline will be presented, because we need to have a time frame for all this to fall into place. There's so much to consider before we grab that brass ring. Group members want to do it right. This ever-expanding "twister of opportunty" need not turn into a tale of woe if it's handled correctly. Brass doesn't rust.
Gas companies dealing with individuals who have leases coming up for renewal this year are worried, and they should be! Meetings addressing all facets of the Marcellus play are presenting facts to educate the public throughout our area. Folks are looking out for themselves. They are attending these eductional seminars and learning the "standard company lease" just doesn't cut it any more! This is a new day. Anyone considering NOT renewing should attend the Shinglehouse meeting, and learn what many others already know. THERE WILL BE NO CHARGE.
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