Anyone know anything about Axebridge Energy LLC???

Was looking at Belmont County records online and saw Gulfport sold a  %  interest in many local leases.  The only info I could find was a Texas address with no phone # and a start up date of 02/11.

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Permalink Reply by Finnbear on February 1, 2012 at 6:29am

What %? Is this possibly a newly formed private equity company who will be helping fund Gulfport's drilling operations?

Permalink Reply by Dan on February 1, 2012 at 7:16am

I think it is 1/3 but I can't read legalese that great.  Here is the link to the lease.  Could be a main players shell company also.

http://www.landaccess.com/sites/oh/belmont/shared/tract/tract.php?y...

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on February 3, 2012 at 3:37pm

It's 1/3 of the difference between 25% and existing burdens.  So if the LOR is 15% then Axebridge gets 1/3 of 10%.

Permalink Reply by Finnbear on February 3, 2012 at 5:55pm

Wonder what that 3-1/3% cost Axebridge?

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