Leases Offered in Noble County

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!

Views: 52154

Replies to This Discussion

Permalink Reply by scott peterson on July 31, 2011 at 11:38pm
I don't think so but if you contact Nate Vaughn he will send you a power point.
Permalink Reply by Robert Fulton on July 29, 2011 at 2:26am
Just a bit of info...I live and work in N. Canton so decided to check out KWGD'S offices in person. I can assure anyone they are who they say they are. Very impressive. Two other notes to consider..I have contacted Eclipse twice for info and still have not recieved a response , The response I recieved from KWGD was immediate. From what I understand  , Eclipse has not given anyone anything in writing...KWGD has been completely up front about their intent and have done so in writing. I also like the fact they are a top rated land law firm. You dont need an extra lawyer to sift thru the manure because they ARE lawyers representing you. I still am not completely happy that ANY of the oil companies will be tearing up our county. I love the peace and quiet and the nature. However it seems probable that this will happen and if so I Intend to make the wisest choice. Good luck neighbors!
Permalink Reply by scott peterson on July 29, 2011 at 3:38am
My feelings exactly in all regards.......
Permalink Reply by joe on July 29, 2011 at 3:58am
Ditto!
Permalink Reply by Private KeepOut on July 29, 2011 at 5:03am
I'm in total agreement with you!
Permalink Reply by Jon Henderson on July 30, 2011 at 1:02am

My wife and I had a vertical well on our property for 20 years. The last 5 years, after the well changed hands, were horrible. The oil and gas company tore up our fences and gates, our property and left a complete eye-sore of an oil tank. They would not return our phone calls very often, and when they did they did not fix the problems. They tried to get us to re-lease the property to them about 3 years ago, but we threw the checks away and they finally plugged everything and pulled out. Of course they left the eye-sore and our messed up gates.

         That is one reason we are going with the KWGD group. The information we have seen about their lease gives us protection (we think), and everything we have seen and heard about them sounds very professional.

Permalink Reply by scott peterson on July 30, 2011 at 1:19am
Who was the O & G co.  Jon?
Permalink Reply by Jon Henderson on July 30, 2011 at 3:19am

Scott,

It was not a large company like Chesapeake. It was a smaller Ohio company from up north. I believe it was Northwood Energy. The well produced for about 25 years. The well was drilled by J.L. Coats (some of you may remember them from the 1980s oil and gas days of Guernsey County). I don't remember who originally operated the well, but they sold it off to Northwood.

 

I also just looked at the ODNR Utica report and noticed Guernsey County has hit the list with permits in Liberty and Wheeling townships for Chesapeake. 

Permalink Reply by Michael Lawrence on August 8, 2011 at 12:41pm

sooo if you go to KWGD's website... they offer up 6 high price lawyers to REVIEW your lease..  there is not that much information to review... actually.. a good land group can come up with all the great ideas of what not to do.. best bet.. contact a local drilling company and ask them what they think....

 

will be way less than 8% of your gross and 2% of YOUR royalties..

Permalink Reply by scott peterson on August 8, 2011 at 12:57pm
Come on quit spewing b.s.  KWGD is not asking for any royalty at all... period none.... Secondly their landowner group fee is 5% and will most likely be paid by the drilling co just like Chspk did with their Carrol Cty group last year. $1,600 & 15% from Wishgard is a crappy deal. You guys will make a killing selling that lease and you know it.
Permalink Reply by Michael Lawrence on August 8, 2011 at 2:32pm
sorry... i have seen their commissions asking for over 200 an acre... i have copies...
Permalink Reply by Michael Lawrence on August 8, 2011 at 12:45pm
so how many acres do you have in play here.. 100-200-or more..  bottom line is that the drilling companies want 640 to 1280 blocks... small acreage doesnt work for the big play... living in canton probably limits your pool....  kwgd is not a leasing company.. just a sucker fish wishing to reap benefits from land owners...  sorry not mine.....  give me a company that can justify the drilling.

RSS

© 2025   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service