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: 52124

Replies to This Discussion

Permalink Reply by Red Skelton on October 13, 2011 at 2:25pm
That may very well be Judy. Des is a pretty sharp guy and seems to know whats going on.
Permalink Reply by Judy Woodard on October 13, 2011 at 3:33pm

Went to Des Wertheimer's meeting in Caldwell this evening. Talk about facts & figures! He wants to assure Noble County that it's oil shale is prime and he wants to form as large a group as possible, including ALL townships. He says the entire county is very valuable and people are being misled about what's there or not there in various spots. Also, he does not take any % of your bonus or royalties. He negotiates for the landowners and whatever we are paid, the oil company pays him a fee for the leases/acres he brings to them. He takes nothing on royalties. You can join his group, and you can leave it anytime, no questions asked. He has leases you can take with you to study. He sounds as knowledgeable as any others I've listened to. He's going to hold a number of meetings and wants all of Noble County he can get to sign on with him. His next meeting is next Thursday, 6:00 at the Community Center at the Noble County Fairgrounds. I hope everyone in Noble County sees his ad in the Leader or reads this and decides to go hear him. I think he's more aboveboard than the group I've been in. He believes patience is our biggest problem and wants to take the time to put together a group large enough to swing some weight and also to represent all of us who thought we weren't going to be part of any valuable negotiations.

Permalink Reply by Linda Wrege on October 16, 2011 at 2:57am

Judy: Just saw your post and I'm wondering, is the meeting in Caldwell at the Comm. Center on October 20? It was hard to tell the date of your post and I want to attend a Noble Co. meeting. I was at one meeting recently and Cunningham canceled shortly before the meeting was due to start.  Hope to attend one in Caldwell as soon as possible.

Permalink Reply by Nelson Roe on October 19, 2011 at 3:51pm
Readers beware... The statement made here about this group not taking a % of your bonus may be misleading unless something has changed in the last couple of months with this group.  At the meeting I attended, he wanted 7% of the bonus.  I have heard a few others say that he has now dropped that to 5% of the bonus.  Yes, many times the O&G co. will pay that fee above what they pay you.  But all the same, whether they pay the extra to him, or to you & then you have to pay him.  It all works out the same.  He is getting a cut of your proceeds just like most of the other groups around.  Except for the few that are truly non-profit!  Just make sure to look CLOSELY at everything presented to you!
Permalink Reply by sawtooth on October 19, 2011 at 3:41pm
Anyone in with the Mosser group out of Cadiz Ohio?  A friend of mine at work today mentioned Shell is paying around 5K for land in Guernsey County.  He even thought some of Noble too but wasn't sure..  I think the royalties were around 20% as well.  Just not sure if the lease is very friendly as i haven't seen a copy yet.
Permalink Reply by paul geiger on October 20, 2011 at 1:14am
The land group was started by Matt Cristlip from Londonderry township in  Guernsey  county.  Mr Mosser is the attorney for the group,the lease signing is scheduled at southeastern equipment training center at 11407 old national rd Cambridge .The lease is with Shell oil company 20% gross  $5000.00 per ac .I was told at the last count they had over 52000 total  acres. In Guernsey county  43000  acres. , Signing starts Wednesday till Saturday Oct 19,20,21,22, time 10AM -8PM and Additional dates for walk- ins Monday Oct 24,25, 26 ,10AM -8PM   if any questions can call Holland services who is working on behalf of Shell oil  1-800- 889-2187.  Tell your friends .
Permalink Reply by paul geiger on October 20, 2011 at 2:01am
Attorney Mosser  fees are being payed by the oil company,  which is 1.5 % .
Permalink Reply by Nelson Roe on October 20, 2011 at 2:03am

Paul,

Did you decide to go this route?  I tried to call Chris when we talked last to get your number, but he was with a customer & never called back...

Permalink Reply by paul geiger on October 20, 2011 at 2:30am
Yes, I leased yesterday
Permalink Reply by Nelson Roe on October 20, 2011 at 3:11am
Congrats & best wishes.  Sorry to hear that you left us, but hope we will all benefit from our decisions in the long run.
Permalink Reply by paul geiger on October 20, 2011 at 3:42am
Nelson Thanks , and the best for you .
Permalink Reply by Linda Wrege on October 20, 2011 at 3:32am
Does any of this leasing through the Mosser group involve acreage in Noble Co.  I live approx. 5 miles from the Washington Co. line.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service