Ashtabula County, OH

Information

Ashtabula County, OH

This group is for all things related to oil and gas development and leasing in Ashtabula County.

Lease Offers (view / add)

+ Add a Group Discussion

Members: 315
Latest Activity: on Tuesday

Discussion Forum

Buckeye mineral 14 Replies

Started by don. Last reply by Ronaround Mar 25.

Horizontals - Morrison - Jewett - Magyar 3 Replies

Started by Joseph-Ohio. Last reply by Joseph-Ohio Feb 13.

"From Ashtabula County Ohio - The Silence Is Deafening - Talk It Up ! 28 Replies

Started by Joseph-Ohio. Last reply by elliemae82 Jan 26.

NELA ???? 16 Replies

Started by Helen. Last reply by elliemae82 Jan 18.

Feeling Un-Represented 2 Replies

Started by Joseph-Ohio. Last reply by Joseph-Ohio Jan 16.

A Post On The United Shaleowners of America Pages

Started by Joseph-Ohio Jan 12.

Comment Wall

Comment

You need to be a member of Ashtabula County, OH to add comments!

Comment by elliemae82 on Tuesday

Thanks everyone for all the information. Nice to hear some encouraging news once in a while.

Comment by Adal on Tuesday

This is what Enervest's CEO Walker said at a gas / oil conference last fall.

The volatile oil EnerVest is exploring in the Utica refers to hydrocarbons that are in a gaseous or near-gaseous stage when trapped in a reservoir. As they are brought up to the surface, changes in temperature alter the state of these hydrocarbons and produce liquids.

"It's valuable because the price of oil is much higher than the price of natural gas and natural gas liquids," he said. However, it's much more difficult to extract oil molecules from shale than dry gas or NGLs.

Walker said his company has two test wells in the volatile window, and he believes that the rock and pressure is sufficient there to allow production. "The volatile oil window has a tremendous amount of oil in place, about 16 million barrels per section," he reported. "We just haven't scientifically figured how to get it out yet. Our industry is a very high-tech industry and we will learn how to do that."

The EnerVest CEO said he's confident the volatile oil window code could be cracked within two years. "I'm optimistic. I think that if we had to say what part of the Utica has the most upside potential, it might be the volatile oil window."

But that's probably not the case with the "black" oil deposits that border the volatile oil window, Walker said. "It's thermally immature."

Still, as technology improves, so does the potential of tapping black oil, Walker said, reminding the audience that 10 years ago, engineers thought it impossible to extract natural gas and natural gas liquids from shale.

Comment by Adal on Tuesday

I listen to what CEOs say mostly on business channels. Halcon's CEO called Northern Trumbull County wells horrible to say it nicely. Enervest has bought 3 or 4 companies in Ashtabula County (AC) since around 2003. They have drilled a few test wells, they hit NGLs, they are keeping some leases in AC, and they service a Clinton well for me. I have another Clinton well leased by another company who only controls 40 acres around it down to the Clinton well. But in September 2011, it appears that they sold my Utica drilling rights to Chesapeake, and then the word leaked out to everyone.   

Comment by Ed Ganelli on April 14, 2014 at 5:30am

I have to agree with several of the comments below!  New, improved fracing technologies will be the key to further leasing/drilling in Ashtabula County.  As was stated, the profit per well for this area is just not there right now...
As part of the Magyar Group that signed about 2 years ago, this leaves me in what I feel is a really good position since there are only 3 years left on the original 5 year term of our lease.  Therefore:
A) Beland must drill sometime within the next 3 years, or...
B) Beland must use the automatic 5 year renewal option in the lease (meaning another payment of $4,250 per acre) in order to continue holding the acreage under lease, or...
C) Our leases will be terminated, title to the mineral rights cleared again, and we can wait until technology has improved enough to warrant O & G companies to lease again.

Since we already got 4250 an acre, a really good lease, and time on our side, I find any of the 3 above options as fine with me!  What would hurt most now would be for Beland to go ahead with a well, not do it properly, and the dud be a barely producing one.  THAT would hold acreage yet pay little or nothing in royalties!
Yeah...I'm hoping for no drilling yet - at least none in the near future!   ;-)

Comment by David Perotto on April 13, 2014 at 7:51pm

Keep your eye on Enron Oi & Gas, particularly their Gonzalez, Wilson County Eagle Ford wells. They are figuring out how to extract oil from shallower strata. As this is perfected, it will come to Ashtabula. Patience will be necessary, it is not going to happen overnight.

Comment by MJ on April 13, 2014 at 7:39pm

Elliemae,

Ashtabula is squarely in the volatile oil window.  It will see action - just not right away - It is not in the "low hanging fruit" area, and extraction techniques will need to be figured out.  I guess patience is the word.  The same is true of Trumbull, Geauga and Portage.  Learn as much as you can now on sites such as this so as to be prepared when leasing starts up again.  Note:  There is a lot of nonsense here as well - people with agenda driven ideas and posts.  Take with a "grain of salt"

Comment by elliemae82 on April 13, 2014 at 6:04pm

Wow, point well taken

Comment by Adal on April 13, 2014 at 12:56pm

If a company can get $250,000 a day out of a well in Southern Ohio and $10,000 a day out of a well in Trumbull County, where do you think that they are going to drill? Not in Ashtabula County, right now. They are going to take the easy stuff first. 

Comment by elliemae82 on April 13, 2014 at 11:06am

has anyone that was signed with BM tried calling them to get an update

Comment by Bill Simpson on April 7, 2014 at 4:07pm

I posted the below comment under the Topic of Buckeye Mineral a while back which many of us Ashtabula-ites signed up with. Some of the verbiage probably applies to what Ed Ganelli posted.

If there is anyone out there who has a valid, hard fact data answer as to why Ashtabula County does not appear to be in the running at this time or anytime soon please respond. No guessing or Obama type responses please.

..................................................................................................................................................................

Excerpts from the BMD post....

The commitments for Buckeye Mineral expired on 12/31/13.

No e-Mails or printed material of any kind have been sent.

Their last meeting was a long time ago and there was not really any substance to it or the previous ones before it. Since NELA and Wishgard have bailed out of Ashtabula County and BMD is staying behind the scenes I would give you an educated guess that our area will not see anything for a few long years.

There are tons of shale info for Ashtabula County showing maps, graphs, charts, wiggly/squiggly lines and this and that for our area but most were done by guy's who play chess and smoke pipes. Kinda bald headed with dark black rimmed glasses. The old Mr Fisher type in High School Chemistry type of guy.

Until multiple deep test wells are done in various parts/townships of Ashtabula County and a solid delivery package is created and done for transportation lines/plants etc everything will remain quiet. This alone is a mammoth feat both physically and monetarily.

There are MILLIONAIRES out there, both US and Foreign who have made there millions/billions buy going in sight unseen and buying up mineral/gas/oil etc rights with the hope that down the road they multiply their investments many many times over.

Now ask yourself this question. How many of the above folks have you heard or read about coming our way to spend a little portion of there mega bucks in Ashtabula County.

If you add all the above up the bottom line appears to be a very very long wait.

There is an upside to all of this nail biting and waiting and that is that I myself have learned so much about bad leases, bad wording, excellent wording, bad company and lawyer tactics and ton's of mistakes that current landowners have made when they signed. I learned about the good landowner groups and the ones that got shafted. I read more about lawsuits, and cry in your beer stories on this site that I do about folks retiring with big bucks or guys leaving their wife for a 19 year old with a nice monthly royalty check.

They may have signed before we did but many are not eating the steak they expected seven days a week

Maybe the wait is good at this point.

 

Members (315)

 
 
 

Local Groups

advertisements