GAS DRILLING: Wow! Landowner Coalitions Making the Difference?

You have to wonder after reading about the prices some landowners are getting versus rates I've heard quoted locally . Last week, a land owner coaliton that includes parts of Binghamton-Broome Co., signed a mineral rights lease with Fortuna Energy, Inc. for $5,500 per acre with 20 percent royalties. The amount compares to a deal signed in June with Hess Corporation and Seneca Resources Corporation that offered $3,500 per acre and 20 percent royalties to a coalition that included 700 property owners in the Binghamton area. The Friendsville Group, is a coalition comprised of more than 35,000 acres in Bradford (Pa.), Susquehanna (Pa.), and Broome counties. There are more than 900 members in the group with more than 1400 total parcels. See www.evesun.com