79+/- net mineral acres in Winfield Township, Butler County, Pennsylvania.
This acreage is leased at 15%, net with Penn Energy from the Elk Formation to the center of the earth.
1/4 of an acre is in the Penn Energy—Per 45 Unit. This unit recently went into production.
The remaining acreage is in the Penn Energy—Per W32 Unit. This unit has 1 SPUD well and 2 permitted laterals that cross this acreage. These permits are active until July 2020.
The Seller owns the shallow rights and has 2 producing shallow wells on the property. The Seller is uncertain about conveying those rights at this time.
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79+/- Net Mineral Acres
Butler County, PA
- Address: Butler County, PA, USA
- State: Pennsylvania
- County: Butler County
- Township: Winfield
- Net Mineral Acres: 79+/-
- Unitized: Yes
- Well/Unit Name: Per 45 & Per 32
- Lessee Name: Penn Energy
- Lease Date: HBP
- Primary Term: HBP
- Extension Term: HBP
- Royalty Rate: 15%
- Royalty Type: Net