I was out Saturday 1-13-18 and seen a few guys placing paint marks and flags along Rt. 3 north of Fallsburg again. Is another company getting ready to test the area again or are they going to install a gas line along the road? Anyone seen these marks?
Hello, my brother and I inherited our family farm in Fallsburg. We’ve been approached by Nytis Exploration in regards to leasing oil & gas. What is the going Bonus Rate per Acre in the area now.
I'm at 80 per acre for a five year lease which is going to expire or be renewed by the 9th of March. Hope you do better.
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Offered $50 Acre, 1/8 Royalties 5 years. 9 wells on Long Branch same rate?
$50.00 a acre is not much money to have your land tied up for 5 years. I would hope by now landowners would hold out on these cheap offers. because sooner or later if they cannot lease oil , they will have to raise these offers. There is oil, gas, etc. in Lawrence county and the only ones making money is the oil companies, Investors and land men. if you can hold out and if we all do the prices will go up. To make my point, just a couple years ago I leased for almost $200.00 acre for 2 years.
Yea, that is way too cheap. My lease expires the 8th of March. Kind of hoping that they don't want to renew. Do the math, 50 an acre for 5 years is not much money per acre over the 5 year period.
Where's your place at Jack?
My parents had a house on twin branch that was bought by the state for the dam, so it is around there somewhere
Just received info that Gulfland (who holds my lease) is dropping all leases.
Update, just received in the mail a check to extend Gulfland's lease for another five years
Yes my grandparents farm was on Twin Branch at the Dam as well. We still have the Farm at Fallsburg. Nytis wanting to Lease says going Rates $50 an Acre. Not much. We were thinking about selling the place.
We have 28 acres off Rt. 32 leased to Cimarex through Gulfland. I worked for Cimarex in New Mexico up until August of last year. Good company to work for, but kind of hoped they wouldn't renew lease. When things finally start moving lease offers will get a lot better. There is good production in the Rogersville.