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 Private KeepOut on September 18, 2011 at 5:01am
Randall, I understand what you are saying, but we all have different circumstances that led us to the KWGD group. Unfortunately, from what I'm seeing with kwgd is that they are not as landowner friendly as once thought and are preaching a different sermon now. I guess we will see what happens this Tuesday.
Permalink Reply by Mirabelle Dictu on September 18, 2011 at 5:20am
I agree with TP. Right up unti yesterday we were led to believe the bidding was very hot. KWGD lost all credibility with me. That's my opinion, fwiw.
Permalink Reply by Mirabelle Dictu on September 18, 2011 at 9:50am
Yes, Jon. I'm hoping for a good meeting on Tuesday. This has been quite a ride so far! Lol
Permalink Reply by edward thomas on September 18, 2011 at 10:05am

Jon

Have been following the activities and what happened?  Not the specifics but a general

statement, if you can.  Thanks

Edtom

Permalink Reply by AT on September 18, 2011 at 9:06am
What happened with Noble & Guernsey? 
Permalink Reply by Christiane Marshall on September 18, 2011 at 7:37am
Do you suppose we might be able to make a bigger Noble County group? Do you think that might make a difference--more acreage?
Permalink Reply by Finnbear on September 18, 2011 at 8:12am
If all the unleased Noble county people got together in the same group it would make the package more attractive to O&G companies. I know there are the two SOLA (Garrison and Des W. ) groups and the KWGD group in operation there now. If the three groups could work together somehow or if members of all 3 migrated to one it would help How many other groups are also in Noble at this time?
Permalink Reply by Christiane Marshall on September 18, 2011 at 5:53pm
I don't know. I'm kind of new to this. What do you suppose the best way is to find out?
Permalink Reply by Finnbear on September 19, 2011 at 8:08am
Talk to everyone you know who has land in Noble.
Permalink Reply by AT on September 18, 2011 at 11:37am
Bob,  What happened?
Permalink Reply by Private KeepOut on September 18, 2011 at 12:04pm
It's going to be an interesting meeting indeed! Prepare for combat!!! lol
Permalink Reply by sawtooth on September 18, 2011 at 11:20am
Hey you guys heard about the 100 or so people getting $4950 per acre and 19 or 19.5% royalties in Barnesville Ohio?  I just saw it in the paper this weekend.  Exxon is whos buying the leases.  I'm going to try and find a number tonight to see what all areas there interesting in leasing.

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