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!

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Replies to This Discussion

Permalink Reply by AT on September 8, 2011 at 3:31pm
$35K spud fee is a little far-fetched from what I have seen out there. $15K-20K is pretty much the average. Regardless, a 5 acre drilling pad is 1/128th of a 640 acre drilling unit or 1/256th of a 1,280 acre drilling unit. Unless you own a large portion of the acreage in the drilling unit, odds are they won't be drilling on your acreage and the spud fee will be meaningless to you.
Permalink Reply by Finnbear on September 8, 2011 at 3:52pm
Most I have seen have been in the $15k-$25k range which would cover the price of 5 acres of most of the ground in the area of Belmont county where my acreage is located.
Permalink Reply by Judy Woodard on September 8, 2011 at 7:02am

These area LOUSY numbers. Noble County has been ripped off enough! The only reason we didn't get ripped off is we were on vacation when they hit our ridge. Please get to me on Facebook.

Permalink Reply by Private KeepOut on September 8, 2011 at 8:29am
There are a boat load of Judy Woodard's on facebook.....got any hints? lol
Permalink Reply by Private KeepOut on September 8, 2011 at 2:04pm
Judy, you should check out KWGD........maybe they will start a group 6. This Homeland Energy Ventures that you speak of doesn't sound so good either.
Permalink Reply by scott peterson on September 8, 2011 at 11:42am
Yup
Permalink Reply by Private KeepOut on September 8, 2011 at 3:13pm
I guess it's time for some channel surfing....eh? lol
Permalink Reply by scott peterson on September 8, 2011 at 11:49pm
Haha thats good stuff Robert......alot of that crap on here from time to time.
Permalink Reply by Private KeepOut on September 9, 2011 at 12:41am
Hey, for a country boy....you sure is smart! lol
Permalink Reply by Private KeepOut on September 9, 2011 at 12:52am
Too Funny! LOL
Permalink Reply by George Smolinski on September 13, 2011 at 12:30pm
Lighten up KWGD group... I found Judy Woodard on facebook.  Hometown of Caldwell would give you a hint that she is the correct Judy. (second Judy listed so it wasn't a long search.) Try to show some respect in order to be returned some. All of us wouldn't be here if we weren't trying to learn. The hillbilly references virtually shut down what was a good discussion group. I have not read of ANYONE asking any of you to breach your confidentiality agreement. Can we open up a good discussion that is relevant now?
Permalink Reply by scott peterson on September 13, 2011 at 12:42pm
Nice buck there George, looks like a thick rack next to him.....not much discussion on here lately, been pretty quiet.

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