Replies to This Discussion

Permalink Reply by Edsel Emery on January 20, 2012 at 9:41am

I find it hard to believe that they would be moving drilling equipment on to the Allison property and just expect to drill one well in Hancock County.   I'm sure it's possible, but it seems to me that would be an awful waste of time and money.

Permalink Reply by Len Bywaters on January 20, 2012 at 10:13am

I agree.  Just wanted to know if any others had heard anything to this effect.

Permalink Reply by Dwayne Cooper on January 20, 2012 at 11:34am

I heard the same. It sounds like the same old pitch "sign now or be left behind".  The person was told "since they were already sent a lease, CHK would honor it."  I would consider it theft by deception or at the least unscrupulous.  I sure wish they could be held responsible for everyone who falls prey to these vultures.  By the way, it was also a Kenyon land man. It may be that the land group is close to an agreement with CHK and this is their (Kenyon) last ditch effort to sign and sell the leases to CHK.  How many others have been told this by Kenyon?  The lease that was sent offered $2K and 17% NET, lots of other clauses left out.

 

Permalink Reply by Len Bywaters on January 20, 2012 at 11:53am

Just received another update on this.  Apparently there is a company that is currently in Brooke county that is interested in moving to Hancock co also.  It would seem this is a scare tactic by CHK/Kenyon to sign as many as possible before there is any competition.  Don't have the name of the other company yet.

Permalink Reply by Dwayne Cooper on January 21, 2012 at 4:08am

Hancock land group meeting:

Dear Hancock County Group Members;

 

                There will be a meeting of our group on Tuesday January 24th, 6:30pm, at Mountaineer Race Track and Casino at Salon "C". We will discuss current negotiations. Please call if you have any questions. Current members and people interested in joining the group are invited.

 

Jeffrey J. Rokisky, Esq.

Rokisky and Associates

3200 Main Street

Weirton, WV 26062

Phone 304-748-3200

Fax 304-748-3233

Permalink Reply by Edsel Emery on January 21, 2012 at 5:08am

Thanks, Dwayne

Permalink Reply by Todd on January 21, 2012 at 4:07pm

FYI everybody:  We're in the driver's seat!  How can you tell when a landman is telling a lie?  His lips are moving.

Permalink Reply by Todd on January 21, 2012 at 4:13pm

I just checked the WVDEP website and didn't see any other company applying for permits yet.  There are already 35 permitted wells in Brooke County and many on the way.

Permalink Reply by George Bailey on January 22, 2012 at 12:42pm

Kenyon just stopped at my house and told me this. He said they are going to focus on a few small patches in Hancock,  but after tomorrow 1/23 at Midnight they are no longer going to be signing leases.He said all the leases they have outside of these small patches, they will bundle and sell to the highest bidder. 

Permalink Reply by Len Bywaters on January 22, 2012 at 1:44pm

I heard pretty much the same thing today when the landman stopped by my house.  I feel another company will buy their leases and they are going to need to acquire additional acreage to connect them in to units.  Chesapeake is probably just selling these leases they have to turn a quick profit.  If you check their stock price it has been dropping significantly lately.  This would be a way for them to raise some quick cash.  I'm sure with the price of natural gas being so low it is hurting their bottom line

Permalink Reply by George Bailey on January 22, 2012 at 5:01pm

I find it kind of odd that the deadline for the lease signing is the day before the lawyer meeting at Mountaineer. He did mention he thought that land groups had something to do with CHK pulling out.

Permalink Reply by Len Bywaters on January 22, 2012 at 5:35pm

He mentioned the same thing about land groups to me too, but I think that is BS.  All the gas companies have dealt with land groups everywhere they have leased.  Most were much larger than the couple in Hancock County.  PA and Ohio have both had groups that controlled many thousands of acres and they have signed them up.  Could well be a ploy to try and break up the groups and get some to sign for the current offer,  and I'm sure some will.  It's just a gamble and everyone has to make their own decision.  I know I don't like being given an ultimatum.

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