Replies to This Discussion

Permalink Reply by BMR on June 11, 2011 at 6:54am

Mark,

Can you provide their website?  I have been unable to find it.

They  have taken a few leases in Belmont Co. but have not heard any plans to drill.  They may be just buying to flip (maybe not).  But at $2k, I probably don't care.  Can you provide me with the landman's name and number?  $2k in Noble Co. has got my attention. 

 

 

Permalink Reply by Mark Curry on June 11, 2011 at 7:12am

BMR:

 

http://ohtexenergy.com/default.htm

 

Check the contacts..there is an Adam McLeod out of St Clairsville.  They left us a card with $2K comment..I would want to see the lease and all the terms.  Their parent is Brooks Petroleum..not much on the net..did see a Manta entry for them..they have one employee and a fairly low capitalization..so I would check it out carefully..we are too..we should share info!

 

Thanks

Mark

Permalink Reply by BMR on June 11, 2011 at 7:29am

Thanks for the link.  I'll contact them.

 

Yes I notice OhTex states that they are a "oil and gas well drilling company."  I am curious to know how many wells they have drilled and where..  We should.  We are off of Halley's Ridge, just off 146.

 

Permalink Reply by Rich Koehler on June 11, 2011 at 9:58am

Mark, go to the Mohican Basin Landowners website and check some of their links.  This is a group representing about 60,000 acres so far in the Holmes, Wayne, Ashland county area.  The leadership is extremely talented but very quiet about it. 

 

They offer a $5 booklet with some extremely interesting insight into lease language and terms, as well as a 26 page anotated example of a landowner friendly lease.  The group is also a registered non-profit organization in the state.   There are some folks out there who are hoping to make their fortune by getting landowners to join their groups, but they don't tell you they are in it to make money rather than to protect the land and landowners. 

 

Please keep in mind that you have what the oil people want.  Your life was just fine before they came along and will continue in that fashion if you don't elect to sell things to them.  Do Not allow yourself to feel pressured in any way.  You are in control.  Examine your existing leases, go to your Recorders office and look up the ones you have to see if they have been split, transferred, or whatever.   I found out that my FILs land was first leased in 1921.  The latest activity I can find shows the rights being split, with everything below the top of the Queenston Shale being sold while the deeper rights were kept.  I am hoping a little diligence on my part will show the lease has been violated since no payments of any kind have been made for over 20 years. 

 

The ODNR site can lead you to a pictorial representation of the layers in Ohio from the surface down to the PreCambrian igneous rock.  The Utica is the hot topic around here, and there are active Utica wells as far west as the Toledo area. 

Permalink Reply by Finnbear on July 7, 2011 at 4:41pm

Fossil Creek is the lease agent for Gulfport Energy. The leases they obtain are for Gulfport.

Permalink Reply by 0i7okn54zwbdo on June 13, 2011 at 1:01am

Fossil Creek is working for Gulfport. That's who will end up with your lease.

Permalink Reply by Randall on July 5, 2011 at 6:14am

Mark, I am a professional geoscientist working the Marcellus in Pennsylvania, for a major oil company.  I am working the Utica Shale as a personal project, and have a good idea of its potential in Noble County.   You don't want to take $50 an acre, believe me.   If you'd like to discuss it, just friend me, and I can explain.

 

Shale Guy

Permalink Reply by Paul Martinelli on July 5, 2011 at 11:00am

Shale Guy....

 

What can you tell us about the potential in Tusc. County Ohio?

Permalink Reply by Randall on July 5, 2011 at 4:30pm

Tuscarawas County should be a good area, in the oil window, which is what companies are after these days.   Of course, the geology varies, so that does not mean the whole county is great.   There are some fault trends that probably have created lots of Utica fractures, in certain places.   Anybody with a lease in that vicinity should get more than those that are not.    As I like to say, "what your neighbor got" , does not really tell you anything about the real value of the lease.    Oil companies pay what they have to pay for your lease, until that causes their return to drop below acceptable levels.   If you have an idea of where that threshold is when they start to squeal, but don't walk---that is the maximum value for your lease.     If anybody out there wants to know more about how to figure out that number, friend me.

Permalink Reply by Jon Henderson on July 10, 2011 at 9:47am

New to this site. We have acreage in western Guernsey County close to New Concord. The last 4months we have had several offers. Now we have a local guy who seems real intent on drilling. How do you know what the lease is worth, and how to make it landowner friendly. 

Permalink Reply by 0i7okn54zwbdo on July 6, 2011 at 2:29pm

Sierra drilled a well into the Utica and plugged it back to the Clinton.  It was dry as a bone.  That's bound to happen so most people aren't discouraged.  Tusc looks like a pretty good county, I agree with Shale Guy.

Permalink Reply by Brent Laner on July 7, 2011 at 1:24am

When and where did Sierra drill the "dry" well?

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