AboutJames H. McConnell, CPL Expertise READ CAREFULLY BEFORE ASKING ME A QUESTION
I will try to answer questions about oil & gas leases, minerals, royalties, and servitudes, if the questioner has provided a good description of the lands. I require a section, township and range for any land not it Texas. I require a survey name and an abstract number if the lands are in Texas. I will answer questions about offers to lease or purchase mineral interests only if all terms of the offer are in the question, including the term, the royalty and the amount offered. Failure to provide this information will result in the question being rejected.
I have answered more than 2300 questions on this site and get as many as fifty in one day. I do not have the time nor am I inclined to deal with detailed questions requiring an attorney. I am not a substitute for an attorney. If you do not write in a cognizant form, I will reject your question. If you have done real research and have a question I find interesting, I will answer it. If you haven't done any research on your own, I will not do it for you.
If you do not rate the first answer, do not send a follow up, because I will reject it. If my time means so little to you that you feel that you cannot take your time to rate an answer, I do not have time to answer another question.
Experience I have been a Professional Landman for more than thirty five years. I have drilled and operated oil & gas wells in Louisiana and Texas and an familiar with the rules and Regulations of the Texas Railroad Commission and the Louisiana Department of Conservation. I have testified in court as an expert witness.
Question I own 30 acres in the eastern third of Westmoreland County, Pennsylvania, on land purported to be sitting atop Marcellus shale. I am currently receiving offers from Rex and Western of $10-$15 per acre and 12 1/2% on 5 year leases. Land to the east in Somerset County (about 15 miles away) is purportedly being sold at $50 or more per acre. To my knowledge, over 100 permits have been sought for drilling in Westmoreland County over the past several months but few or none in Somerset County.
From what I know, the researches at Penn State think the Marcellus shale gas deposit is going to yield huge results but no is really sure.
My questions to you concern whether this is a good offer and if it is not a good offer, what would constitute a good offer. My intentions are to hold out until at least $50 an acre but that is just my instinct. I am 39 years old. I bought my land for its beauty and really am not that interested in selling but I have several older neighbors who could use the money if a good deal could be made here. They need insight as do I and from what I have read from your postings you give very straightforward advice. I thank you in advance for your time.
Answer Hold out for a year and see what kindof offers you get in a year. If they are really good, wait another year. Shale leases are going for more than $5000 per acre in Tarrant County, Texas. If it's worth that in Texas, it's worth that in Pennsylvania.
