Comment

Comment by D on September 11, 2012 at 11:04am

Both bp and shale investment fund are having people sign leases that the oil company can back out of. Anytime before the signing bonus is paid, the oil company can back out. These are bad leases. There are hundreds of people getting turned down in sept by both companies. 

We are committed to these leases forever. Thanks to the fine print, the oil company can back out any time they want. They make you wait 6 months for a signing bonus and if they dont want you, they turn you down at the last minute. Nothing fair about that. How many people are getting turned down on sept 17. waiting 6 months to be turned down sucks.   and the 

Comment by Kenny on August 25, 2012 at 8:00pm

What they heard about BP pulling out of Trumbull was a misunderstanding.  They are not taking any NEW leases in Trumbull County unless it is within one of their proposed drill site tracts.

They are still active in other counties, it is just that they have close to 100,000 acres in Trumbull County and they want to spread out and gain a position in other counties.

Comment by James Kerns on August 23, 2012 at 1:52pm

Hi Gina and all of my fellow shale owners,

Gina, you can tell when an O&G landman or Rep. is lying, when you see their lips move.

BP is paying on their leases aquired through ALOV, and the deal was all or none, remember. This means by accepting and paying on any ALOV leases signed they can only avoid paying everyone else from that group, and doing so on time, would be if the lessor in question has an incurable title defect. 

All others who sign up with them, or another outfit, would be subject to whatever you can negotiate, and payment would be according to your lease language.

I wish all the best of luck.

If you get more money or a better lease that is wonderfull. We all have to make our own choices and live with them.  

BP, i believe is hear to stay. The prices for holdouts will go up, and only if, the landowners demand more money and possibly better leases.

Comment by Kevin Rishaw on August 22, 2012 at 2:33am

how can anyone pull out of trumbull when no one is even here yet?

Comment by Gina Boltz on August 21, 2012 at 10:42pm

My attorney represented me and checked out the details. I'll let you all know if a problem or something of interest comes up.

 

 

Comment by tomvargo706 on August 21, 2012 at 10:22pm

If that were true, they would not have signed a additional lease with you in Trumbull County yesterday. Point pleasant is a wet gas area.

They could have meant that they would be expanding into additional counties.

They probably just gave you that line so you would sign.

Comment by Gina Boltz on August 21, 2012 at 9:56pm

Hello C Middleton,

From my understanding, BP is focusing on other counties with several kinds of oil possibilities. Trumbull Co, apparantly, has mostly natural gas.

What I gathered from our conversation sounded like many BPe officials had planned, and wanted to, remain in Trumbull, but it was someone else's call.

I'm uncomfortable sharing the rep's name. 

Comment by C Middleton on August 21, 2012 at 7:10pm

The link below doesn't work but the title is "BP executive settles in" and discusses BPs presence in Trumbull.

Comment by C Middleton on August 21, 2012 at 7:08pm

Gina, What is the name of the rep? When you say BP is "pulling out of Trumbull County" do you mean they are not interested in new leases or that they do not plan on honoring the leases already signed? Either way, it seems strange considering this article in yesterday's paper http://www.tribtoday.com/page/content.detail/id/575546/BP-executive...

Comment by Gina Boltz on August 21, 2012 at 5:51pm

We were told by a BP representative that BP is pulling out of Trumbull County on the 29th, I believe, to search elsewhere where the market looks more lucrative. We did, however, sign a lease yesterday with them for $3,900 per acre on 5 acres in Vernon Twp right off Rt. 5. An attorney handled it for us since we are from out out town and own the land from a distance.

 

 

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