ALOV and Northern Trumbull County- Updated Discussion to include BP Lessor's and Bonus money Payment's

Hello all!

 I have been doing a little research and speaking with friends and neighbors about forming a group to address the needs of those of us not yet represented by a landowners group.

This led me to call ALOV after hearing that they had accepted some acreage in Trumbull county.

I paid little attention to ALOV earlier as their website did not list Trumbull county as an area of interest, although the work they were doing was certainly of great interest to me.

 From what i gather there was a cut-off of June 30 for sign-up with ALOV, they extended that and also had a meeting at RD banks Chevy in Champion. This may not be news to some of you, but i had not come across the posting until after. The word i got from an individual at ALOV was that Chesapeake set a northern geographical cut-off in Trumbull county of St.Rt.88, again this may not be a newsworthy flash to some. Many landowners attended, more than expected according again to a source at ALOV, and signed up their acreage.

Now heres the news, ALOV has agreed to start a "Waiting List" of still more interested parties from areas north of St.Rt.88. If you call them with name, address and phone number they will put you on the list, and depending on level of interest, they may choose to represent us as a group in a similiar fashion, with the same or even better terms to Chesapeake, or another interested party.

So call up ALOV, their number is listed on their site www.alov.us , and ask to be included in their next go around. From where i stand why re-invent the wheel, they already have done the groundwork and have the attention of the industry on favorable terms, lets ask them to either start another "Pool" to include us, or come work with us to the same end.

If you have information to share, please join in the discussion, Thanks 

 Hello again to all my fellow Utica Shale Owners. I Just stopped in to ask if there were any who signed with BP from the ALOV Northern Trumbull county group, that resulted from these efforts, still around.

Has anyone had any conversations/correspondence from BP concerning title defects, or other issues that would delay payment or affect your lease, or gotten a check for Bonus money? 

 

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Replies to This Discussion

Permalink Reply by C E Hartman on August 7, 2012 at 3:32pm

Yeah,but once it records, you would think that they would send the check!    Mine also recorded less then a week after signing the lease.  It was like 2 days after.  Signed on May 22 and it recorded on the 24th.. 

Permalink Reply by tomvargo706 on August 7, 2012 at 3:38pm

They still have to do a title search to make sure the mineral rights are clean. Recorded just means recorded.

Permalink Reply by tomvargo706 on August 7, 2012 at 3:59pm

I totally disagree. They have plenty of money. 

Total Cash (mrq): 15.18B
Permalink Reply by Dan on August 8, 2012 at 9:48am

And time.

Permalink Reply by tomvargo706 on August 7, 2012 at 4:15pm

Ohio state geologists have estimated that the portion of the play that exists in the state could hold up to 5.5 billion barrels of oil and as much as 15 trillion cubic feet of natural gas, according to the media outlet. The oil resources provided in this estimate amount to a third of the production of Alaska's Prudhoe Bay, which is the country's biggest oil reserve. The amount of natural gas provided by the Ohio state estimate would make the Utica play a significant component of U.S. supplies of the fuel.

Several industry insiders as well as the United States Geological Survey have estimated the total resources included in the play. Aubrey McClendon, Chief Executive of Chesapeake Energy Corporation, told a crowd at Governor John Kasich's energy summit that the play could potentially be worth $500 billion.  

Source http://oilandgas-investments.com/2011/natural-gas/new-estimates-for...

Permalink Reply by James Kerns on August 8, 2012 at 2:28pm

I had a letter from ALOV, mostly a marketing piece about investment strategy meeting, but they did mention the updates to the record keeping system had been completed. Its about time right? Four months into their six month window.  I swear in the private sector if we worked that damned slow our spouses would still be beating our clothes off rocks in the streambed and we all would be on horseback, not just our Amish neighbors, no offense intended to those folks.

 Now we have about fifty days left to find out if someone just yanked us around for six months or if were going to get paid on the contract we signed. I really think in some regard fang's just stirring the pot, but on the other hand i am starting to think they are just stalling with this slow payment schedule and refusal to communicate with us on progress. And the really frustrating thing is theres not much we can do about it at this point unless we want to go to the media and plead our case to the public and create a public relations nightmare for BP.

 I dont want to hear about how "hard it is too look up records, wea wea". I have sweat and blead and put my life literally on the line every day my entire working life to have much sympathy for white collar types. Do the job your getting paid to do in a workmanlike manner, get it done, right?

Permalink Reply by J T on August 8, 2012 at 2:54pm

HERE HERE!! ()  () clapping.

Permalink Reply by Debby Melvin on August 8, 2012 at 11:41pm

I think you hit the nail on the head, James!  I have called BP, ALOV, and the attorneys and not one of these have responded to my calls with any answers.  I am so tired of being jerked around.  Maybe BP needs to look at how they are doing things and admit they have screwed up.  I am already talking with a couple of other companies in the event that BP doesn't complete their "research" with due diligene.  I haven't received any kind of letter from ALOV so I'm kind of in the dark about that.  This is getting ridiculous.

Permalink Reply by Debby Melvin on August 12, 2012 at 4:14am

I have spoken with both of those plus another one that I prefer to keep to myself.  I live almost into Ashtabula county so I've had different companies stop by.  Sorry it took me so long to respond, but I judge horse shows for a living and have been on the road.  I'm keeping my fingers crossed that my check comes soon.  I have a ton of things I'd like to get done before the weather changes!  Does anyone know of anybody tha received a letter saying their search failed?  I just wonder if they were mailing them out as they find them or if they are waiting until everything is complete and then mailing them all at once.

Permalink Reply by Debby Melvin on August 12, 2012 at 9:24am

Thanks for the head's up!  I found a business card in my back door when I got home from someone named Vince Flask reresenting a company called "Shale Investment Fund, LLC).  I can only imagine what this guy wants :)

Permalink Reply by C Middleton on August 12, 2012 at 1:43am

I'm not so sure that its actually a "slow payment schedule". A good friend works higher up in local banking and she told me there are "tons of checks coming through every day". Incidentally,  she is also waiting for her check. So am I.

Permalink Reply by tomvargo706 on August 10, 2012 at 10:09am

Anyone get a check this week?

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