Recently I attended a coalition meeting and wish to share with you the following. The issues of drilling Marcellus range are complex: with many stakeholders, State and Federal regulations and the concerns of all NYS residents. That being said, what I witnessed from listening to the committee is that much progress has been made on your behalf with a host of complicated legal issues and the future of contractual guidelines.
As the process in Albany continues to unfold, your leaders will present you with a more definitive schedule of direction and actions they will be undertaking.
Two major issues which were emphasized at great length:
1) Continue to retain your mineral rights if you plan to sell your property. The royalty benefit may well exceed any signing bonus you may receive. In fact, the value of the Utica range maybe greater than the Marcellus, according to some experts.
2)Do not sign any lease with agents who are presently in the area without first checking with your leadership team as to their validity.
As we await the decision of New York State DEC study, keep your powder dry.
Painted Post, NY