Black Ridge already signing in our area...now a company called Braxton also has signed acreage...

I saw the other post in Ashtabula County asking about Black Ridge...figured this would be important also.  Black Ridge has already signed one large property in southern Ashtabula on Rt. 46, and have been contacting landowners between Rt. 46 and Rt. 193 to also sign them up.  Found out yesterday that a company called Braxton Acquisitions has signed several large landowners northwest of Kinsman in northern Trumbull/southern Ashtabula, headed towards the area being targeted by Black Ridge.  Braxton has also signed several large landowners in northern Trumbull in an area between Rt. 46 and Rt. 193, also headed northward towards the Black Ridge area.

Anyone know anything about Braxton?  More importantly, anyone know what O & G company they're leasing for?

BTW...not sure what the exact amounts were for in the Braxton leases...just was told that they are as good or better than the BP/ALOV offer...

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Replies to This Discussion

Permalink Reply by john p halloran on June 18, 2012 at 7:23am
I kinda thought so,they planted corn there,the road is not going to hold up under all that load,I can tell by looking at it.
Permalink Reply by Dan on June 1, 2012 at 9:11am

Talked to a guy from Colebrook and a landman dropped a lease off, $4000 and 18%. I thought it was Black Ridge.

Permalink Reply by Joseph-Ohio on June 1, 2012 at 12:13pm

Saw a sample BlackRidge Lease.

Looks as good as ALOV's.

From what I've read, they seem to be concentrating on only Southern Ashtabula County now; between 46 and 193 and South of 6.

I'd like to know / hear / read about how many acres they've signed - wondering if they're concentrating on larger tracts totally open to lease or what ?

Go to blackridgeusa.com for a web page.

Also, it's BlackRidge not Black Ridge.

Permalink Reply by Joseph-Ohio on June 18, 2012 at 9:15am

Having had an opportunity to take another and closer look at the sample BlackRidge Lease I saw where they have the Signing Bonus paid into an Escrow Account which is something I (personally) would take exception to.

 

Permalink Reply by Peter Yedrzeyek on June 18, 2012 at 9:21am

And what if you are still paying on the land?  Where would the money go then?

Permalink Reply by Joseph-Ohio on June 18, 2012 at 9:40am

Peter,

Personally, I don't know how a landowner would or even if a landowner could set something like that up.

Seems to me to be something to be worked out with the landowner and all of the money folks the landowner is dealing with.

Off hand, interlacing the Signing Bonus with a Land Purchasing Deal seems to me would represent something very special.

I don't know even if it's possible to work something like that out.

That would be one to ask the landowner and BlackRidge, and / or the BlackRidge Escrow Agent, and /or the outfit that holds the Land Purchasing Deal.

It would seem to me that paying for the Land Purchasing Deal is one thing, and the Oil & Gas Lease Signing Bonus entirely another and interlacing them no small feat.

Permalink Reply by Dan on June 18, 2012 at 9:51am

Some banks / mortgage company's will require a sign off of some sort to sell the minerals,  want to make sure they get their money first. Just another hand in the pot.

Permalink Reply by Ed Ganelli on June 18, 2012 at 10:39am

Hi Joseph!  The money going into an escrow account is ONLY 10% of the signing bonus...it goes into escrow so that if the acreage has clear title yet isn't paid for by BlackRidge at the specified time, then the 10% goes to the landowner and he gets to lease his acreage again.  The remaining 90% (along with the 10% in escrow) goes to the landowner when paid by Beland (BlackRidge) and the lease goes from the escrow company to BlackRidge at that time...

Permalink Reply by Joseph-Ohio on June 5, 2012 at 8:47am

@ Ed Ganelli,

Ed, I hear there's a BlackRidge (primarily signing) meeting at the Colebrook Elementary School on Wednesday (tomorrow) June 6, 2012.

Do you know what time and how long they'll be there ?

I thought I read in some post somewhere it was noon to 8:00 pm.

Can't resurrect the post.

Kindly confirm if you can.

 

Permalink Reply by Ed Ganelli on June 5, 2012 at 12:15pm

Yes...supposed to be from noon until 8.  I BELIEVE that they're also going to have another one Friday at the same time...

Permalink Reply by Joseph-Ohio on June 5, 2012 at 1:22pm

Thanks Ed.

Also, I actually spoke to a landman from BlackRidge.

He confirms that it's going to be pretty hectic just signing people up and if I and my wife had questions outside of signing up that it would be best to go to their next meeting.  Our ground being about 4 or 5 miles north of 6 and outside the current BlackRidge targeted area. 

He also said that he thought it was probable that they would (in the future) continue their leasing endeavor north of 6 - just not right now.

Wondering if they're going to try and buy any of those Chesapeake Leaseholds now being offered - did you hear anything on that score ?

Seems to me if they do they'll be paying them a pretty penny - probably at least 3 times what they would pay any landowner or landowner group.

What are your thoughts ?

  

Permalink Reply by Bill Simpson on June 5, 2012 at 2:06pm
Is it possible that anyone signing with BlackRidge can upload a copy of their lease onto this forum? I would like to compare the BlackRidge lease in whole to the ALOV lease for category comparison. This would be good info if and when BlackRidge should move northward. I, and probably others would rather do our homework upfront and take time to compare as opposed to working within a small time frame.

Also, any ones thoughts on the 4k per acre offer from BlackRidge? My feeling is that this part of Ashtabula County should be worth a little bit more.

Welcome all thoughts and comments.

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