Posted by John - NY on August 02, 2009 at 08:47:31 from (74.67.89.66):
In Reply to: Gas well lease update. posted by Rollie NE PA on August 01, 2009 at 10:12:37:
This spring WhitMar offered $200/acre for each of two years and $2500/acre for each of two additional 5 year periods, but they could pick and choose whose property they wanted to continue with based upon 2-D siesmic testing. Up to now we hired an attorney to consult with that had helped broker another gas deal locally. We paid by the hour, but most attorney firms want $15 to $20/acre with a minimum of $300 and a max of $2500 per party. We've heard now that some of the attorney's want a percentage of the royalties on top of that - the greedy weasels! We haven't signed and have gathered together about 75 neighbors to form a small coalition with about 3200 acres. We are right on two pipelines including the 30" Millinneum Pipeline and in Broome County which should, by all indications, be as good as Susquehanna and Bradford Counties in PA. Thanks for the follow-up and Good Luck!
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