This section is for news stories about the Shale Play we are involved in. When you see a news article about Oil and gas in the area please post it here for a reference for others to see.
Zanesville Times Recorder
DRILL BABY DRILL!!!!!!!!!!!
I'm not sure what county its in yet,or what O&G Co. , but I'm going to be hauling stone to a new pad in the Caldwell direction in a couple of weeks. I'm pumped ! Hoping this is the start of a good year ! Stone is coming out of Sidwells-White Cottage. I bought a 6 axle Dump truck last May, after 27 years being a self employed contractor and watching construction die around here. :( Had to change professions. :)
With deep concerns over fracking, a Va. county says no to more gas drilling
When localities start these types of actions it may well snowball to where you will never see a dime in this possibility of wealth. If you do not believe me think a bit. If ten years ago I told you they would ban smoking in a VFW you would have called me crazy, but look what happened!
See article in the Ohio Farmer Magazine
The Ohio Farmers Union has its members mostly to the west side of Ohio. But here it is a organization that wants to butt into your personal property rights.
RED ALERT THOUGH : Sugar coating
Ohio Farmers Union
1011 North Defiance Street
Ottawa, Ohio 45875
Our activities include visits with legislators, meetings with state agencies, providing legislative testimony during bill and rules making hearings and connecting our members with their legislators. We also cooperate with various other public interest groups such as the Ohio Environmental Council.OFU’s 2011 state and national policy document is discussed and ratified at our state convention each January.
OFU also assists Ohio farmers in participating in programs such as the National Carbon Credit Program which rewards farmers who put carbon into the soil – taking the greenhouse gas out of the atmosphere. At the national and state levels, cooperation has also come to embrace the consumer more and more over the years.
Now see what their buddies advocate on fracking!
Here are some contacts where you should call to voice opposition to this sugar coated ban in the making :
Ohio Farm Bureau Federation (614) 249-2400 ask for Dale
Email contact http://ofbf.org/contact/
Ohio Farmer Magazine
Editor, Ohio Farmer
117 West Main Street, Suite 202
Lancaster, OH 43130
NP David but we as landowners need to get our head out of the sand and know what is going on in our new BUSINESS we are in!
More good news for the area.
Article in the Newark Advocate
I posted the following in the comments:
However interesting this story is is just a cracker crumb . I advise all land owners to get educated in the knowledge of leasing their property. Would you burn $300,000? You very easily could.
Example: I lease say 50 acres for say $500/acre = $2,500 and get say 12.5% royalty (the old industry standard where as now royalty can be as high as 20%)
They drill a Clinton well at 3,000 feet, they do not frack it and it produces say 25/ bbl/day so I would get about $114,000 the first year (note oil wells drop in production so that is a high figure) main point here is it is a producing well it might only make 5bbl/day it still is a producing oil well. Under the terms of the lease I did not see they as long as they have a producing well have ALL THE OIL AND GAS and a small clause that says UNITIZE.
They sell the lease to say a bigger company at $4000/acre. They just made $197,000 that I might have been able to have had plus they will get a over riding royalty.
Big Company unitizes my property into a 640 acre unit (the big horizontal process) and say the well comes in at 1000/bbl/D I would get $365,000/year, had I been able to have leased myself to the big company at say 18% I would get $513,000 a year so we just burnt $197,000 + $148,000 = $345,000 ! As stated well production will drop off but you lost the $197,000 forever and the percentage of the royalty will be forever a loss.
That was a hypothetical upon a 50 acre plot. The first calculation was based upon just a 50 acre plot at 12.5% the other was in a unitized unit of 649 acres.
Is it worth you being educated, you decide.
TY Sawdust and David!