Don't shoot the messenger! Ohio Land Management rec'd a late afternoon call from one of our neighbors in Mahoning county. He stated he just signed for $5800 an acre and 20% with Buckeye.
All bets are off landowners! The price of the Utica carbonate shale is now leveling off with the rest of the play. I just hope many of us have not signed for 3K or 4K.
No...this lease was with Buckeye Mineral (Bob Rae's new for-profit group). But...ALOV group members are supposed to be receiving letters very soon...
I feel so bad for the landowners held to 100.00 per acre leases. This is getting insane.
So do I Melissa. Many of them are very large landowners - they have literally watched 100s of thousands to millions of dollars slip through their fingers.
yes that is a shame ,these landmen new about the play for yearsand came in and leased cheap . The $100 was a high price a alot of this was leased at $5.00 and acre.
Forest oil worked the utica in canada several years ago and new its potential ,but i don,t feel the companies have gambled in any way, the obvious production reports like the buell well which was even downplayed had tremendous results and most other have done rather well,
The MArcellus has been going great for well over 3 years and it is only slowing down because the companies can realize more profit from the liquids and the oil .
When the country converts a lot of plants to full gas production that will take off in full force again , since the overall cost of gas fired power plants will be much cheaper than coal .
Hopefully this don.t happen too quickly there are alot of older coal miners who deserve to make it to retirement to get their pensions .
And by the way does anyone know if many of the oil field crews are Union members.
It seems like if there are going to be a lot of jobs , they are going to have to let the welders and carpenters from the union halls get into the jobs since this is our state and our workers should be on top of the list to be employed .
hey Ron keep up the good posts that is the only way we can beat that non disclosure clause the companies are adding in , the last here was $5000 and 20% in Belmont County and it is supposed to be good here too. Show us the Eagleford Money .
its time for the game's to start , please ante up as much as you can stand . we will gladly hold whiie you get more cash please. (LOL)
The ALOV website should have a number. I am sure they can give you Buckeye Minerals number. There have also been ads in the Farm and Dairy lately.