I'm new to "gomarcellusshale", as well as new to this business. We have a 152 acre farm with "Clinton" gas wells which supply our needs.
We've been approached by Fossil Creek Energy Corp (FCEC) for $50/acre, 12.5% Royalty, and $10,000 if a well is drilled. We are sitting on the Utica Strata. I've carefully read the lease and am very suspicious of the terms. We are consulting attorneys. I don't see any members from Noble County..and some interesting notes from Guernsey which lead me to suspect the FCEC lease. Can they broker a lease after signing "cheap"?
We have news of ARTEX Oil offering leases in our County, they're out of Marietta. Any comment on FCEC, ARTEX, and my suspicions would be welcomed!
Yes, the Marcellus looked practically nonexistent on the ODNR map.
Please let us know what you find (with a link?).
Actually, even better:
From this map the Marcellus looks very thin in Noble County, but good Utica.
From the geological map presented to our group, there is no Marcellus in Noble County. Utica shale (oil) is only across the northern tier of the county, the rest of the county is "wet gas", which is still profitable and worth mining. One of the companies talking to our group's representatives in Texas was very interested in Noble County. So, your friend is correct-there is no Marcellus shale here. She is also right that leases are by depth, but they speak in terms of depth and deposits, and may be worded to include the layers immediately above and below the Utica. People who have leased their land for Clinton development in the past can, depending on the depth or deposit mentioned in their lease, still lease their deeper rights for shale oil or wet gas drilling.
Actually, she said there is Marcellus in Noble County according to a US map. She is going to try to get the link for me to share.
Judy, thanks for sharing all of that information. Can you clarify something for us? You say there is no Utica in the southern part of Noble County, just wet gas. My understanding is that it is Utica, but probably wet gas in the Utica. What am I missing? I'm confused!
I have acreage in Guernsey County and i leased with them back in March. As it turns out, they made a mistake and i was not payed although a lot of landowners around me who signed with them were payed. My opinion is that they get in early in areas and lease up land ahead of the big rush and normally for less bonus money and royalty. Their lease was so, so, but i know there are much better leases out there.