Replies to This Discussion

Permalink Reply by John Donat on August 5, 2012 at 12:38am

It sounds like a great deal. Looks like there are better options as time goes by. Remember these offers will get better because Trumbull County is sitting on a gold mine for oil and gas and these companies know this. Don't sell yourself short.

Permalink Reply by Samuel J. Orr on October 18, 2012 at 6:36am

Did they ever pay on this 27000 acres or did the bail out? Or has the time for payment not expired?

Permalink Reply by Jack on October 18, 2012 at 8:50am

They paid and are planning to develop the Utica

Permalink Reply by Samuel J. Orr on October 18, 2012 at 12:05pm

They may have paid, but they are not big enough to develop the Utica. Their self announced business strategy is to drill just enough wells in a variety of places to prove the reserves and then liquidate the company by selling out to a much larger comapny. Halcon will cease to exist within 3 years, probably earlier than that. Floyd Wilson did this with Petrohawk and he has stated that this is his business plan for Halcon.

Permalink Reply by Samuel J. Orr on October 18, 2012 at 1:04pm

I will answer my own question They apparently paid but payment was to NGL Appalachian Partners per newspaper article. But same article says it was for a bunch of old leases, and that some of them perhaps were problematic. I guess final answer is that its hard to tell. Hard to imagine that Halcon did not have 'due diligence" language to protect itself. It may be that if either Halcon or NGL got screwed in this deal, neither wants to admit it!

Permalink Reply by Jack on October 18, 2012 at 1:17pm

All of the old leases state "40 acres per well" so all of these leases will need to be amended.

Permalink Reply by MJ on October 30, 2012 at 3:56pm

Halcon has put signs out on route 7 here in burghill concerning truck traffic on the proposed brugler pad site formerly leased by carizzo and odnr permitted on orangeville hayes road.  Does anyone know anything more on this?  There has been a lot of cross country seismic activity in this area in the last week or two.  Anybody in the vernon/kinsman area with any news?  Thanks in advance.

Permalink Reply by William Otis on November 5, 2012 at 6:33am

I'd like to have some good news. We're in Vernon Twp. and signed with Shale Investment Fund (agents for Halcon) on June 12. Our lease was recorded Aug 6. Still have not seen our bonus check. I'm beginning to wonder if they are good for it. I'm losing hope.

Permalink Reply by Bob Rock on November 5, 2012 at 12:24pm

Somebody has moved a bunch of yellow iron in on where the Brugler pad is going. I imagine the pad will be done in couple weeks.

Permalink Reply by MJ on November 5, 2012 at 4:42pm

Halcon seems to be moving very quickly with the initial wellls.  Bp claims to be commited to trumbull county and intends to fully develop the utica here - 12 to 15 wells next year - and I believe they (BP) have honored most if not all of the lease bonus payments for the time being.  To all my neighbors: If you have not yet seen a rig set up - go down rt 88 (358) towards greenville - just across pa line.  Phillips #1 Halcon - check it out at night - what beautiful site!

Permalink Reply by William Otis on November 6, 2012 at 2:33am

We live on Rt88 & Orangeville-Kinsman Rd. in Vernon Twp. This sounds like good news, as the back of our property is only half a mile from the PA line. But I'd like to know what is holding up payment of our Bonus. We could really use the money.

Permalink Reply by MJ on November 7, 2012 at 5:27pm

Hang in there william,  This area is a gold mine and the big o/g companies know it. Initial test wells will next year will let us all know if we are going to receive royalties in this play.  I hope you get your money,  I have lived here since the steel mills closed in the seventies.  I know what it is like to milk cows and make hay - plow fields,plant,harvest

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