Here's a thought: Doesn't AEP own like 60,000 acres in Eastern Morgan Co? One would assume they own the minerals. Won't they do quite well if the oil/gas play goes as well as we hope it does?
Should I by some of their stock?
Wonder if they will have to pay 40%+ income tax on their royalties?
AEP leased it 2 years ago.
AEP (Franklin Real Estate) leased to Artex in 2008. In May of 2011 Artex partial assigned the Franklin Real Estate lease and many other leases it had acquired in Morgan County and other Counties to Anadarko E&P. Anadarko acquired 66.66% of Artex's interest. Artex retained everything above the Queenston Shale and everything below the Trenton (ie Rose Run). In other words Artex and Anadarko are now partners. Primarily in Deerfield, Bloom, York, Union, Bristol, Center, & Meigsville Townships. Also a lot of Blue Rock in Muskingum County.
CGAS 2 weeks ago acquired a large number of old Eagle Mountain leases from Enervest. Most of these leases are from the 70s and 80s and are primarily located in Union, Morgan, and Bristol Townships.
Is AEP the same as Ohio Power Company?
Are they drilling in Morgan County, yet? Where?
AEP & Ohio Power are the same. Don't know about any drilling there.