Replies to This Discussion

Permalink Reply by Inchworm antenna on August 29, 2011 at 10:45pm

Do you know any of the 80,000 acresa groups terms?  Perhaps some of the other larger companies will start leasing in Norteast Ohio.  It seems that Chesapeake had such a great start in NE ohio that many of the other larger companies have shied away to scramble across Southeast Ohio.  Or perhaps the well in Newton Falls is really just garbage.

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Permalink Reply by Ron Eiselstein on August 29, 2011 at 10:55pm

Bob, The details I heard today was that several proposals were sent to energy companies and that tonight there is a big meeting to sort it out.  Several offers did come in and one was a hedge fund that offered 2250 and 17%, now please don't go off the deep end, I do not beleive that Newton Falls well is bad.  Remember, it was the Lake Milton well that brought Chesapeake up here and money has been flying around ever since.  Also you may have heard that Chesapeake after doing site work in Kinsman, packed up and pulled out.  What does this mean?  The locals up there do not believe that anything is wrong with the minerals, they believe that Chesapeake maybe posturing or, as with Shell here, Range there, and Chesapeake here, maybe a giant is moving into Trumbull.

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Permalink Reply by Ron Eiselstein on September 1, 2011 at 10:31pm

Well, in a shale play, things change as fast as gas is released when one fracs.  Today, it was circulated in a business circle that Chesapeake indeed has bid on lower Trumbull county.

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Permalink Reply by Josh on September 2, 2011 at 10:22pm

they are out of money!!

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Permalink Reply by Kevin Kasson on March 21, 2012 at 10:27am

They are never out of money.  They are business people and are waiting to see results from current drilling activity, seismic surveys, and are aware that landowners are getting wise to the way the game is played.  Any landowner that signs a lease in a hot county for anything less than $4k to $6k (wet gas & oil plays, not nat. gas) is living under a rock.  The wildcatting days are over so to say.  With all the technology available today, they are going to approach this methodically. 

Because things are slowing down and the money has "disappeared" only shows that they are unsure of their geologic data and don't have enough certainty with their geologic data to seriously go full steam ahead blast whole counties with billions of dollars.

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Permalink Reply by Finnbear on September 3, 2011 at 9:43pm

80,000 acres is a BIG bite for any company to swallow all at once. CHK already has lots of acreage in the OH Utica play and may not want that much more all in one county. I'd bet this group would do much better if they split this 80,000 acres into 3-5 smaller groups separated geographically.

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Permalink Reply by Inchworm antenna on September 4, 2011 at 12:54am

I think making that much acreage available to lease by one group is silly.  Theres only a few companies that can lease that much in one shot so the group really is limiting the number of available bidders and thereby the competition.

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Permalink Reply by Rowe on September 4, 2011 at 3:06am

Where in newton falls is there well located?

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Permalink Reply by Ron Eiselstein on September 5, 2011 at 10:03pm

Last October, I visited and saw the horizontal rig on North Newton Falls road in Lake Milton, I do not know where the rig is in Newton Falls.  Our neighboring landowners in Lake Milton have mentioned that rigs are present in Newton Falls.

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Permalink Reply by Ron Eiselstein on March 21, 2012 at 11:40am

I feel bad for Trumbull, I wrote this last year, August.  I wish someone come clean and say why Trumbull really fails to get the big offers.  I believe it is infrastructure.

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Permalink Reply by Craig Stull on March 21, 2012 at 2:57pm

Feel bad for no one!!! Thank god we live in a democracy!!! The people will speak!!! 

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Permalink Reply by Ken Schwer Sr. on March 21, 2012 at 4:35pm

 We don't live in a democracy.

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