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BCLG regroup?



Started March 1, 2017 at 12:42 am by @wasnieskijj in Butler County, PA

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wasnieskijj
03/01/17 12:42:34AM
@wasnieskijj
JMS I was also a BCLG member. Yes, our leases are going to expire in April. Rex would be more than happy to resign us to the same contract for a TOTAL of $10 according to what I've read on this site, but how would that benefit us? The shape is boom isn't over, it's about to take off thanks to the Trump victory. All the BCLG members whose lease is going to expire need to regroup and relate to renegotiate. If we sign for a ridiculously low signing bonus, there wont be any motivation for them to drill. If they threaten to leave us out (which they will) those of us who hold out will reap the benefits. We need to start preparing to regroup and renegotiate. We hold the cards if we are patient.
wasnieskijj
03/11/17 12:06:06AM @wasnieskijj:

It is time for the former BCLG members to reunite.  If your lease is going to expire and you want to team up to renegotiate, send me a private message.

James


Jon7
04/17/17 12:00:25AM @jon7:

For anyone whose property isn't HBP, don't forget starting this week you can call or email Rex to have your lease released.


kazzb
04/17/17 10:50:29AM @kazzb:

What is HBP


Jon7
04/17/17 12:37:15PM @jon7:

Held by Production. It means that you have a well on your property.


kazzb
04/17/17 03:14:12PM @kazzb:

Thanks. I wish. Do you know is there any interest in these leases from BCLG or are they dropping them.


Jon7
04/17/17 11:23:24PM @jon7:

As far as I know any property that isn't in a unit will probably be dropped.


Bill15
04/17/17 04:18:15PM @bill15:

Or you are in a unit with a well.


kazzb
04/17/17 04:50:41PM @kazzb:

How would I know that. All I ever got was paid 5 yrs ago for a 5yr + 5yr extension which runs out tomorrow. I have never received any other info from Shell or Rex from that point on. So I guess I am not in a unit with a well. 


Bill15
04/17/17 05:13:09PM @bill15:

You would have received something from Rex if you were In a unit by mail, most long a registered letter.


Bill15
04/17/17 05:13:35PM @bill15:

Most likely I meant.


kazzb
04/17/17 06:19:36PM @kazzb:

Did many people that signed with BCLG get put into a unit with a well or are most people in the groups leases expiring this month. I live outside the area and it is hard to keep up with what is going on in Butler area.


GASROCK
04/17/17 07:56:58PM @gasrock:

Some BCLG members in the Morraine East Area are included in Units.   Where is your property located?    It seems that is the area that Rex will be focusing on in the coming two years.  You can check out their website for operational updates which will provide you with a lot of useful info.


kazzb
04/17/17 08:20:28PM @kazzb:

Butler County Venango Twp near Boyers Pa. We border on State Game Lands


kazzb
04/20/17 06:40:10AM @kazzb:

Contacted Rex yesterday about filing a release at the Butler Courthouse. The response below is from them. So if you haven't received a payment by now it is time to move on. They are going bankrupt anyway.

Good afternoon 

 

Upon review of your lease information, it appears that your lease expired yesterday (4/18/2017). At this time, there are no plans to renew, extend or tender a new lease.

 

We will be filing a surrender of lease on your behalf to clear your title of the gas lease.

 

Should you need anything else, please let us know.

 

Best Regards,

Timothy Murcko

Land Analyst | Rex Energy Corp

600 Cranberry Woods Drive | Suite 250

Cranberry Township, PA 16066

DD: 724-302-5106


GASROCK
04/20/17 10:45:22AM @gasrock:

I'm surprised they are not in negotiations to sell themselves.   I hope they survive for everyone in Butler County's sake.


kazzb
04/20/17 11:40:00AM @kazzb:
Don't know that for sure but there's a lot of information about Rex and none of it's very positive
Jon7
04/20/17 04:05:31PM @jon7:

Beats me. Maybe after the DUC (unconnected well) count goes down, them or someone else will start talking.


kazzb
04/20/17 06:00:54PM @kazzb:

I am happy that they dropped mine. If they are just going to sit on it for another 5yrs. Who knows what will happen I have been involved in leasing since 1973 it is either feast or famine. At least I can look around, without feeling trapped for another 5yrs.


Jon7
04/20/17 07:59:06PM @jon7:

Hey, you could of been one of the people that signed for signed for nothing.


kazzb
04/21/17 05:37:57AM @kazzb:
Or signed at all. I'm happy the way it all played out.
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