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 Linda Wrege on November 9, 2011 at 10:29am

Just heard from Des.  There will be no meeting in Noble Co. this week (Nov. 10).  He hopes to have a new location set up for next week and will call or email me with the details.

Permalink Reply by DM on November 11, 2011 at 11:30am

I've gotten appoximately 20 emails because I'm subscribed to this thread - all with the same post from Jim.  Why do you keep posting the same thing over and over?  It was nice of you to post the new info for this deal yesterday when it was news.  Now it's old news, why do you keep posting the same info?

Permalink Reply by scott peterson on November 11, 2011 at 11:45am

I was just about to ask the same thing. Thanks for the info......we all have it and again and again and again and again and again and again.......

Permalink Reply by DM on November 11, 2011 at 11:55am

I'm glad for the SOLA group!  I just don't need an email telling me the same thing every hour.  I was in the KWGD group and I'm happy with my lease, but I'm not going to post it every hour.  Why do you keep posting the same thing over and over?  Simple question.  For all I know, you may have a good reason.

Permalink Reply by Steven Gardner on November 12, 2011 at 12:22am

Jim... It has nothing to do with "testy tone". I have subscribed to this and many other threads over the last year but I also have received this email notice many times over the last few days.. I guess were just saying .. WE GOT IT.. THANKS !!!  WE GOT IT !!AGAIN !! and AGAIN and AGAIN !!  and yes .. this site rocks

Permalink Reply by Rich M on November 11, 2011 at 12:02pm

You can go to your settings and select under email not to receive them at all or many other options.

Permalink Reply by DM on November 11, 2011 at 12:09pm

I like getting the email updates, just not the same one over and over. 

 

Regarding the silence - I'm guessing that many have already signed under KWGD or Shell for the same terms weeks ago, so maybe the feeling on the news is kind of "ho-hum".  It sounds like a good deal and that's great for the SOLA members.  It's just that most had probably already signed up for the same terms weeks ago,  so it didn't generate much excitement.  Even still, it is good news.

Permalink Reply by scott peterson on November 11, 2011 at 12:12pm

Ditto that exactly.......

Permalink Reply by Mark Curry on November 11, 2011 at 2:24pm

Ok, so some of us have signed leases, some of us are close.  In Noble County, Eclipse is drilling under ODNR permits for Miley 5H horizontal and vertical test holes with a 640 acre (btw, that is one square mile!) platt.  On Google Earth, that isn't huge.  For any of us with leases, a single O&G needs to control a large contiguous platt of control, yes?, before they can determine how to distribute royalties, assuming Miley 5H (or other test holes) is successful.  Does anyone know how to get hold of maps or platted land allocated to leases owned by the O&Gs?  I'm trying to chase this down at ODNR but was curious if any one out there know how to track this.  If wells start producing, and once infrastructure to deliver product to market is built, we'll all need to know/validate how distribution of royalties occurs.  Just wondered if anyone has info on this as we move from leasing to (hopefully) production.

Permalink Reply by Steven Gardner on November 12, 2011 at 12:37am

Mark, The county does not keep a compiled record of leased property. You would have to go to the recorders office (If you can get in there) and just start looking up the records and compile your own list.. "Very Labor Intensive". The OG companys all have their own in a GIS format and I'm shure hold them tight to vest. It would be very interesting to have a look.

Drilling unit plats are available on the DNR site through the Interactive Maps page or you can call them and have them emailed to you but these are not for royalty calcualtion. It is my understanding that they will file a DOC "document of consolidation" that will show all royalty owners in the drilling unit with their respective acreages. These .. along with the drilling unit may be amended later. Hope that helps.

 

Permalink Reply by Christiane Marshall on November 26, 2011 at 6:43am

Mark, You might find it difficult to get into the recorder's office right now. It's jam packed elbow to elbow with O&G company employees checking out mineral rights! There isn't even parking on the square most days recently.

09bp5t05myjl3Permalink Reply by 09bp5t05myjl3 on November 26, 2011 at 6:55am

Isn't that strange since we just heard that Noble county is not as desirable & has little interest by the O&g companies and is worth much less than other counties to the north

 

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