Local Gas Leases Hit $$$2,000 Dollars per Acre! WOW!

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Pennsy-or-Bust

Philadelphia, PA

#1 Apr 3, 2008
That's right!$2,000 per acre!
There is a group at the Lairdsville Fire Department signing people up right now! For $2,000 per acre!
This group (GFI, Inc.) has signed close to 30,000 acres!
They are even paying people who own one acre parcels in the town of Picture Rocks and Hughesville.
Why so much money? Because so far all the wells drilled in this area, in the last two years, are "producing gas wells". They have not drilled a "dry hole" yet!
The pros are saying this "Marcella" PA gas shale vein is larger and will be more lacrative than the one in Texas.
How high can the price go? In Texas they get $10,000 per acre and a $1,500 signing bonus.
How can they afford to spend money like that on leases? Guess what? The petroleum companies made $70 billion in profit last year. If they don't spend it on something, they loose it to the IRS. They're spending it on natural gas leases in good ole PA.
Do the math above, that's $60 million dollars. They still have a ways to go to get to $70 billion. LOL
SSSSHHHHH, don't tell anybody, OK.:)
Pennsy-or-Bust

Philadelphia, PA

#2 Apr 3, 2008
PS - we signed!
Gary Burchner

Miami, FL

#3 May 7, 2008
Good info, but unvarifiable thru Internet Searches. Who is "GFI, INC"? What do the initials stand for? Is GFI a "drilling" company, or simply a land broker? I'm VERY interested if this is on the up and up. Can anyone provide the web site for this particular GFI INC? Was this a news article in a Williamsport or Muncy newspaper? Where can I read THE article rather than this "FORUM"? My E address is
gary215ts2002@yahoo.com
Thank you so much.
FREDRICK RAINEAR - AGENT

Stroudsburg, PA

#4 May 21, 2008
LANDOWNERS OF LYCOMING COUNTY SIGN WITH A COMPANY THAT PLANS TO HAVE A LONG RELATIONSHIP WITH THE AREA THEY PURSUE
FRED R.
05/19/2008
MONDAY
WWW.FREDRICKRAINEAR@ATLANTICBB .NET
___Just Hit Paydirt___

Philadelphia, PA

#5 Jul 30, 2008
According to GFI Oil & Gas, our gas lease paychecks are being sent out this week for the Lycoming County leases.
Here is GFI's website if you are interested -
www.gfiog.com
GFI is based in Williamsport.
The word in our neighborhood is that the checks are for $2300 per acre.
Signed -
Fat, dumb and happy in Lycoming County.
Just Hit Paydirt

Philadelphia, PA

#6 Jul 30, 2008
According to GFI Oil & Gas, our gas lease paychecks are being sent out this week for the Lycoming County leases.
Here is GFI's website if you are interested -
www.gfiog.com
GFI is based in Williamsport.
The word in our neighborhood is that the checks are for $2300 per acre.
Signed -
Fat, dumb and happy in Lycoming County.
Old Bucknellian

Lafayette, LA

#7 Aug 2, 2008
$2000 per acre is nothing compared to what they are paying in the Haynesville shale region in northwest Louisiana. They are paying $37,000 up front for the lease and 26% of the net production (if any) if nat gas is found on your property. Anybody signing for $2000 in PA is nuts! In the Haynesville shale they have to drill down 15,000
feet, but in PA there only drilling to about 8000 to 10,000 (a lot cheaper to drill) and the Marcellas gets a higher price because it is close to the northeastern U S population so they have much lower transportation costs. Need to form groups of landowners and make them pay more for all the group's property! Good Luck!
Old Bucknellian
Screwed in Bradford

Clarks Summit, PA

#8 Aug 14, 2008
Watch out for GFI, They totally screwed Bradford county. If you want anymore info check out www.pagaslease.com and search for GFI or Bradford county. Their are a lot of upset people up here!
Paul

United States

#9 Aug 20, 2008
I own a 198 acre farm in SW PA and just signed a 5-year lease at $3,800 an acre at 17%, so anything less than that you are giving away the farm, so to speak.
Nancy

Elmhurst, IL

#10 Aug 24, 2008
Paul, Who paid you $3800 per acre for your lease?
dave in bradford co

Boston, MA

#11 Aug 25, 2008
Screwed in Bradford wrote:
Watch out for GFI, They totally screwed Bradford county. If you want anymore info check out www.pagaslease.com and search for GFI or Bradford county. Their are a lot of upset people up here!
GFI has NO intentions of PAYING in Bradford County! BEWARE!
Darlene

United States

#12 Aug 25, 2008
Dont sign with GFI we waited 90 days for nothing.
Gas lease was returned with no check.
People in Bradford county got screwed.
dave in bradford co

Boston, MA

#13 Aug 25, 2008
we havent even got our leases back yet nevermind a check! Signed on 4/11!
gfischer

Lebanon, PA

#14 Aug 27, 2008
___Just Hit Paydirt___ wrote:
According to GFI Oil & Gas, our gas lease paychecks are being sent out this week for the Lycoming County leases.
Here is GFI's website if you are interested -
www.gfiog.com
GFI is based in Williamsport.
The word in our neighborhood is that the checks are for $2300 per acre.
Signed -
Fat, dumb and happy in Lycoming County.
would like to know if you ever got payment from gfiog,been waiting for five month. Thanks gfischer.
gfischer

Lebanon, PA

#15 Aug 29, 2008
please confirm.
Just Hit Paydirt

Philadelphia, PA

#16 Dec 17, 2008
Yea, we got our checks this past August.$2100 per acre. From GFI (at www.gfiog.com - they have their office in the basement of the big blue office building in front of the Montoursville WalMart).

But by now that is old history since about 30,000 acres worth of people in Hughesville and Muncy have already gotten their checks.

We signed the lease around March 2008, and got our checks in August 2008. So it took about 5 months to get them.

The word on the street now is that Pennsy shale gas is only profitable to drill and get, when the price for a barrel of crude oil is over $75. Right now the price of a barrel of crude oil just dropped to around $50.

So guess what, if you haven't gotten any money by now, you probably missed the boat.

This is why all the recently signed leases have all been put on hold. This and the current credit crunch. Seems the gas lease buyers are having a hard time rounding up money to buy leases because of the credit problem. Add to this the drop in energy prices (ala crude) and the gas lease money is drying up for now.

We might have to wait until the price for crude bounces back up to $100 per barrel. That might be a year or two. Or maybe next week. LOL.

Ya snooze, ya loose. Check back next year.
GAS is NEEDED

AOL

#17 Mar 31, 2009
I am not going to sign for about 5 more years. Untill then I will just keep working. Stupid people want everything right now. Good things happen to those who wait.
mgc

Tunkhannock, PA

#18 Apr 3, 2009
I signed a lease agreement back in mid-Oct, 2008 on a piece of property in east Lycoming Co, and haven't seen a check yet! Been well over 110 business days, and the lease agreement language is "...within 90 business days." Two calls to GFI back in early to mid March 2009 resulted in your basic run-around, and calls made since then to various voicemail boxes in early April 2009 have not been returned.

Nice!
Texas is bigger

Tavernier, FL

#19 Jul 29, 2009
Hey all, I just stumbled upon this post with a search for land for sale. I live in Houston, Texas and land here easily goes for $5-$10k/acre and in Louisiana, like someone else said, they sell for tens of thousands plus a percentage of the gas produced. Hold out for more money or get a percentage of any production. Ot like another person said, get together with land owners around you and don't sell, just lease the land and hold out for more money.
Dukelee

Elmora, PA

#20 Nov 3, 2009
We own 50 acres in Clearfield county. Our current lease is up in Feb. 2010. We are trying to get a better “Per acre” by switching leasing companies. How do we know how much to ask for? The land owner all around us received 500 per acre.

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