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!
Was just kidding, I knew that, Lol
I was pretty sure you were joking on that part Tom, just wanted to re-iterate for any of the other readers so as they didn't get the wrong idea. lol. thanks again for the info.
Heres their info Nelson
Here is a discussion that Tom started, including a news article announcing the deal.
Yes its Antero Resources is the company and there paying $5000/20 and up. Eclipse is so tight there probably no longer able to compete in buying up these leases in Noble county. They did well last year though as many people jumped ship early allowing Eclipse to buy in quickly and at a low price. They will probably drill a few test wells to prove what they have and then sell several times over what they paid for them originally. Doesn't seem right but thats how its done.
This may be old news for the Noble Co. people, but Magnum Hunter is active in the area. See the link...
Wow and to think this thread started out with this as a offer! "We've been approached by Fossil Creek Energy Corp (FCEC) for $50/acre, 12.5% Royalty, and $10,000 if a well is drilled." WOW WOW
Man your telling me. I just heard from a friend of mine that he received a letter from a group called Utica Landowner group or something like that saying Antero Resources was offering $5,900 and 21% for land in northern Noble county. I believe the meeting is next week but not sure where. Where will all this stop? This is some crazy stuff and i feel for bad for everyone that signed several months ago. I think a lot of people got took which doesn't seem right but thats the game i guess.
That is accurate plus a $10 per acre signing bonus paid upfront at lease signing. Sent some of my friends to sign two weeks ago. Appears to be a very good lease too. Not sure what the group was called but O & G was Antero.
That the one....took my two friends in Beaver Twp/Noble
Might just be that hold outs are driving up the price. The lease flipping which I believe was done by the biggies though independents acquired quite a bit of land but not in contiguous acreage. The companies know what they need !