Current Events/News Releases

Today Carrizo Oil & Gas announced that it is entering the Utica Shale Play by way of a Joint Venture with Avista Capital Partners. There are 15,000 acres involved and Carrizo is paying $1,500 per  acre for ONLY 10% interest. You do the math. What would the value per acre be for 100% interest?

http://www.msnbc.msn.com/id/44727794

Randy

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Replies to This Discussion

Permalink Reply by Shower Bath on December 7, 2011 at 5:12am

Some of you have signed with Shell, and might find some interesting info in this article. See the link......

http://www.bloomberg.com/news/2011-12-07/shell-says-exports-truck-f...

Randy

Permalink Reply by Shower Bath on December 7, 2011 at 6:00am

Chesapeake is filing tons of leases all over the area, which is most likely due to the creation of the Utica LLC and their other financing moves. Here's an article from Ohio.com......

http://www.ohio.com/news/local/stark-has-record-setting-day-for-dri...

Randy

Permalink Reply by Shower Bath on December 9, 2011 at 11:40am

For those of you who are leased with Chesapeake or who own their stock, you might enjoy this article. See the link....

http://seekingalpha.com/article/312715-why-won-t-the-stock-market-b...

Raandy

Permalink Reply by Shower Bath on December 11, 2011 at 2:00pm

This article/link was posted on the Main Board as a Discussion by Mike Stevens today. It is interesting, to say the least. If you are not yet leased, there are some pitfalls mentioned that you need to avoid. See the link..

http://www.post-gazette.com/pg/11345/1196135-503.stm

 

Randy

Permalink Reply by Shower Bath on December 13, 2011 at 5:15am

The Ohio DNR has updated the permit/drilling activity reports for last week. Of note is Gulfport's first permit, located in Harrison Co. See the link....

http://www.ohiodnr.com/oil/shale/tabid/23174/Default.aspx

Randy

Permalink Reply by scott jackovitch on December 13, 2011 at 1:24pm
Permalink Reply by Shower Bath on December 14, 2011 at 8:41am

Here's the link to most of the current info on the Utica Play. Get a cup of coffee and enjoy. See the link....

http://www.drillingahead.com/page/utica-shale-news

Randy

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on December 14, 2011 at 2:30pm
Normally I don't like to report rumors but this one was a head-scratcher. A knowledgeable gentleman in the industry told me today that the declines on the existing Utica wells are incredibly steep. As in wells are now making 45 boed. This man has no reason to lie and has a major stake in these wells being productive. He got this information from a very reliable source. On March 1 when all Ohio producers must report their production I suppose we'll see what CHK's numbers look like. What I can't figure out is why CHK would keep leasing so heavily if their wells were not showing positive numbers. Anyway, I found it interesting nonetheless. Until I see actual data I don't assume anything I hear in the oil patch as truth, but I thought I'd throw that one out there.
Permalink Reply by Shower Bath on December 14, 2011 at 2:33pm

I saw this video posted on the main board and thought it would be helpful to have it saved here. Attny Johnson is an attorney from Canfield Ohio who does O&G work in that area. See the link.....

http://www.youtube.com/watch?v=ZRkL7fZLPco&feature=related

Randy

Permalink Reply by mbc on December 17, 2011 at 9:51am

Hello,

I don't know much about this topic, but I am trying to learn.  I watched a little bit of this video and begin to wonder about an unsolicited lease offer I received over the summer.  The offer was from Avalanche.  Seemingly, a standard lease, which from everything I've been reading, favors the oil companies to the extreme. 

My point is, the lease was prepared by the attorney in this video, or his firm.  It seems to me, and I could be very wrong, but it seems to me that he is playing both sides of the fence.  There is a fence isn't there?

When the day comes for me to seriously consider leasing, wouldn't I want a lawyer that represents landowner's and landowner's only?  Or, is there no such thing?

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on December 19, 2011 at 1:08pm
The job of the attorney is to do what the client wants. If the client wants a lease then the attorney's job is to get them the best lease possible. If said attorney has worked with major companies and has a relationship with them it makes it easier to get the landowner what they want. Knowing what a company is willing to do is helpful during a negotiation.
Permalink Reply by Billy Park Whyde on December 19, 2011 at 4:36pm
An attorney is usually one step from being a politician. They are in business to make money for themselves first.

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