Replies to This Discussion

Permalink Reply by Shower Bath on September 12, 2012 at 4:43am

Chesapeake has sold their non-core Utica holdings for $600 million, in four seperate transactions.

http://www.chk.com/News/Articles/Pages/1734237.aspx

Randy

Permalink Reply by Shower Bath on September 12, 2012 at 5:33am

Gulfport has posted their Sep. investor's presentation which has sweet spot maps and locations of Markwest pipelines. See the presentation dated Sep 10, 2012.

http://ir.gulfportenergy.com/events.cfm

Randy

Permalink Reply by scott peterson on September 12, 2012 at 5:49am

Good stuff Randy.....thanks much!

Permalink Reply by Shower Bath on September 13, 2012 at 8:15am

If you are interested in Chesapeake, you might find this article interesting. "Chesapeake loses bid to void Texas oil and gas rights award" See the link...

http://www.bloomberg.com/news/2012-09-12/chesapeake-loses-bid-to-vo...

Randy

Permalink Reply by bo boboski on September 13, 2012 at 8:51am

Those people in guernsey county,ohio who signed leases with shell & carrizo, only to see the O&G co. bail out may want to check that out!

Permalink Reply by Shower Bath on September 23, 2012 at 4:17am

I see this thread has passed the 50,000 views mark. That's alot of information shared, and I hope it has led to improved leases for Ohio landowners. Here is an interesting update by PDC Energy regarding their status and plans for their Utica holdings. See the link...

http://seekingalpha.com/news-article/4177491-pdc-energy-updates-ope...

Randy

Permalink Reply by Shower Bath on September 25, 2012 at 5:54am

If you haven't seen many drilling pads, retention ponds, access roads, etc. you may find the size and scope of the surface disturbance interesting. These are all in Ohio. See the link....

http://www.marcellus-shale.us/MARCELLUS-AIR_OHIO.htm

Randy

Permalink Reply by Shower Bath on September 26, 2012 at 8:33am

The state DNR has updated the permit/drilling activity report for the week of 9-16. See the link...

http://www.ohiodnr.com/oil/shale/tabid/23174/Default.aspx

Randy

Permalink Reply by Shower Bath on September 27, 2012 at 2:26am

Very good article on Nat gas prices, pipelines, and the 1,000 Marcellus wells that are already drilled and waiting on pipeline connections. See the link...

http://www.ohio.com/business/natural-gas-pipelines-to-expand-u-s-su...

Randy

Permalink Reply by Shower Bath on October 2, 2012 at 7:41am

If you are interested in Chesapeake, or question the use of forced pooling in Ohio, you should read this article.

http://www.reuters.com/article/2012/10/02/us-chesapeake-landgrab-su...

Randy

Permalink Reply by Joseph-Ohio on October 2, 2012 at 8:41am

RPK,

Have you heard anything about who is going to buy (or has already bought) the Ohio Utica Point Pleasant Shale Leasehold acreage up for sale by Chesapeake and / or EnerVest ?

Also, I've been of the understanding if an Ohio Landowner does not lease to a developer and said developer takes the minerals anyway from a drill hole on adjacent contiguous acreage of a given drilling unit that the Ohio Landowner who has not granted a leasehold would be paid 100% of the pro rated production based on said Ohio Landowner's acreage percentage of the drilling unit.

Can you provide more information and confirmation ? 

 

Permalink Reply by Shower Bath on October 2, 2012 at 4:34pm

Joseph, I have not seen who bought the Ohio Utica leases, although there were reportedly four transactions for over $600 million. Details of the transaction will eventually surface, as all of the lease assignments will be recorded at the county recorders offices. I think we will see what happens with Enervest within the next two months. In today's market they may not get what they feel is fair value, and end up holding on to their position. Keep in mind that the clock is running on all of the leases that aren't already HPB. If a landowner is force pooled they miss out on the signing bonus and would normally receive a 12.5% net royalty. In some states (I'm not sure about Ohio) if the landowner chooses to participate in the well, they could receive 100% of the pro rated production after the drilling costs are paid off, which could take 3-5 years. Bear in mind I'm only a landowner and do not offer legal advice. If I'm off about the forced pooling, someone will correct me. Best wishes, RK 

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