Replies to This Discussion

Permalink Reply by mbc on September 27, 2011 at 8:51am

Hey William,

I have property in Medina county and have had two offers.  According to the data maps Medina is viable in the oil window of the Utica Shale portion of the play.  Which, I suppose, is why I have had two offers.

Permalink Reply by 0i7okn54zwbdo on September 29, 2011 at 9:57am

Medina is in the oil window but there are questions pertaining to porosity and pressure.  To date nobody has drilled a Utica well in Medina.  The offers you've received are speculation, I assume.  Who made the offers?  I know Devon had some interest out there at one point.

Permalink Reply by 09bp5t05myjl3 on September 29, 2011 at 3:00pm

what kind of offers did you get?

Permalink Reply by mbc on September 30, 2011 at 3:10am

Yes, I agree, the offers, which where virtually the same and from the same company, are speculation.  They, I suppose, are like anybody with a little cash, willing to spend a little hoping to make a little more.

The offer(s) were from Avalanche for $250/acre, 12.5%, 5 year term. 

The only talk of a Utica well in Medina that I have heard of is the one mentioned in an Ohio.com article a couple months ago.  The following is taken from that article.

 

"...The 40-acre Medina site is southwest of Lodi near Greenwich and Congress roads. It would go to a depth of 4,856 feet.

It was among the first wave of permits approved by the state last fall.

Getting natural gas from the Utica shale at the three sites might not begin for months — perhaps never.

The state permits allow the companies to begin core borings and other testing to determine whether they want to proceed with drilling a vertical-horizontal well that could cost $5 million to $6 million. Multiple wells could be developed at each site."