What are the prospects for Washington county ohio?

I need some information about which oil companies are coming into Washington and Morgan counties in Ohio. I have seen maps that show I am in the wet gas/ oil portion of the play. At this time I am not aware of any oil companies (not flippers) leasing in my area of western Washington county. I know they are drilling in Noble county but with chesapeake selling leases in Guernsey to devon, I am not sure how this is going to play out. Any ideas or information will be greatly appreciated. Thank you.

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Permalink Reply by oildude on February 7, 2012 at 8:39am

Also, I think I read on another discussion thread that Devon has a new fracking method that works better in the oil portions of shale. I would be interested in any info about that as well. 

Permalink Reply by oildude on February 8, 2012 at 4:27am

 I have learned that "Southeastern ohio landowner's association" has begun to negotiate deals in washington county ohio. I also know that they recently made a deal in Noble county for $4000 an acre and 19% royalty. They also got a commitment to drill and a portion of everyone's land will be included in a drilling unit. I think it is a 3 year lease with an extra $750 per acre release price.

Permalink Reply by oildude on February 13, 2012 at 6:33am

I just saw the new deal in noble county for $5900 per acre and 21% royalty. This must show that Washington county is sitting on the sweet spot. 

Permalink Reply by Billy Park Whyde on February 13, 2012 at 8:13am

" They also got a commitment to drill and a portion of everyone's land will be included in a drilling unit." How big of a unit or is it an attempt to tie up every ones land to possibly only one well? 

Permalink Reply by Glenn C. Keith on February 13, 2012 at 6:38am

Anadarko is drilling nearby in Noble and southern Guernsey and have a production unit in northwestern Guernsey as well although this site has not been drilled yet. I would think they would be a possibility for Washington and Morgan Counties. Anadarko has an office in Cambridge.

Permalink Reply by oildude on February 13, 2012 at 10:45am

Billy

You bring up a good point. I had not thought of putting a portion of everyones land in a drilling unit as a way of tying up land. Have you seen that sort of thing before? 

Permalink Reply by Billy Park Whyde on February 13, 2012 at 11:10am

oildude  I just looked at your post and said oops, if its possible that question should be asked and considered in leasing . I pointed out in another thread where in Licking County, Ohio.  Clinton Wells have been drilled with pitifully low lease prices. The wells were vertical wells that were never even fracked which would only produce possibly less than 5bbl/day, I did not see the lease but if the lease can be held by production that low to hold the land to flip it then it looks like another way to screw the landowner. 

Permalink Reply by oildude on February 14, 2012 at 2:07am

Has anyone put a statement in their lease that any drilling must be a horizontal well? With my area being in the oil window of the play I would think they will want to get as much oil as soon as possible.

Permalink Reply by Billy Park Whyde on February 14, 2012 at 3:32am

The problem is that even with that language it would not stop lease flippers once they flip the lease they take the cash and tun. I mean hey Mr. Landowner yea I 'll drill a horizontal well but you know I have to have you sign this lease first. Since I will be drilling unlike other companies I'll just wrote ya out a check right now for $100,000 for your 100 acres. Showing a picture of their rig this will be the rig we will be using. Bull crap sales job but at $100,000 to flip it for even $300,000 is a profit. 

Permalink Reply by oildude on February 22, 2012 at 10:10am

Devon just bought leases from Chesapeake. I believe these acres extend into northern washington county. I know for a fact that Enervest has old oil tanks and vertical wells in western washington county. There must be more oil companies leasing or operating in Washington county. 

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