I do not think any land was located in Trumbull County.
I saw a document that stated:
over 60,000 acres located in these counties ...
Yes, there are depth restrictions.
Josh, WHY would you say, "Probably leaving alot on the table" ? What is it the we are leaving on the table?
I'm guessing that Josh means that you left some of the signing bonus on the table. You could have got more considering it is oil they are after. My 2 cents worth.
We knew that both oil and gas could/would be extracted from the well. It is clearly stated in our lease. We will make money if either petroleum based resource (gas or oil) is extracted. The majority of Utica wells drilled, so far, have produced no oil - just Nat Gas. I do not agree with your "2 cents worth".
Has anyone (with similar geology in their shale layers below the ground) actually signed a better overall lease than ALOV?
Also, there are other very important issues in a Gas and Oil Lease than just the Signing Bonus amount and % Royalties.
All the Chesapeake leases I've seen, and I've seen several different versions, include both oil and gas. I was just giving the probable answer to your query.... which turned out to be right. You don't have to agree with me, that's fine. I have signed up 2 parcels of land I own, and I'm going to let the third one ride and gamble that the bonus/rate is going up in the near term.
Josh, thanks for confirming my suspicions.....I have an gas/oil industry contact in NE Ohio and he tells me the same as you state.
Here is a good article I just found I think you might find it interesting and anyone else also. Gives some pretty exciting news for us Buckeyes! Its says they have found OIL!