any recent news on the Industry, Ohioville well sites?

Greetings. it's been kinda quiet in this area of Beaver County. any news about pipelines connecting the wells in the industry, ohioville area? we had a surveyor come out about 2 years ago prospecting for a pipeline potential path, but no news since. any news appreciated. thanks.

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Replies to This Discussion

Permalink Reply by John on February 27, 2013 at 9:09am

I'm gettting the same information from the guy I have been in touch with at CHK.

(DO = Divsion Order and DPU = Declartion of Pooled Unit)

 

"DOs for both the Tharp and Burdick units are now scheduled to be mailed during the first and second weeks of March.  We also expect royalty payments to mail during the third and fourth weeks of March.   We discovered an issue on another property within the units that took additional time to resolve and we apologize for the delay.  Regarding the final DPUs, they are currently being routed for signatures and we hope to have them recorded very soon."

Permalink Reply by Larry Livengood on February 27, 2013 at 9:37am

If we have to wait six months to receive royalties, is there any interest due on the monies?

Permalink Reply by craig on April 1, 2013 at 3:57pm

No interest involved, sadly.

Permalink Reply by Todd on February 27, 2013 at 1:45pm

Here's a question for you guys:

Did CHK decrease the amount of acreage in the units for anyone after they filed the initial DPU's?

Permalink Reply by Larry Livengood on February 27, 2013 at 1:50pm

Nothing filed at the courthouse yet.  Will have to wait and see.

Permalink Reply by Todd on March 1, 2013 at 7:40am

Good Luck Larry... I hope you don't get screwed anymore!  Nice profile picture! :-)

Permalink Reply by Larry Livengood on March 1, 2013 at 9:09am

The longer I deal with these people, the more I think the screw is misplaced.

Permalink Reply by Todd on March 2, 2013 at 5:23pm

LOL! :)  You're a funny guy!

Cheers!

Permalink Reply by Todd on February 27, 2013 at 1:32pm

Looks like a nice chunk of change headed towards the folks in the Burdick and Tharp units based on the Q4'12 productions numbers.

Will Chesapeake pay everything retroactively to catch you guys up?  I would think interest will need to be added at some point and you guys are either close to or beyond that point.

 

Permalink Reply by craig on February 27, 2013 at 2:06pm

With the Thompson well, the first checks covered 3 months production, no interest earned and was received in month 4 of production.

I don't know what a nice chunk of change is for you, but I figure they probably gonna get maybe $70/acre/month if each month they produce 400,000 cfm or more.... that's how Thompsons worked out, but then production has been slashed after the first 5 months or so because of infrastructure constraints. Their last checks were so low, the guy I know didn't even figure out how much/acre...sounded like possibly single digits.

Permalink Reply by Todd on March 1, 2013 at 7:28am

 

Craig,

How many acres does the guy you know have in the Thompson unit?  How many acres are in the Thompson unit?  800 or so?

 

Permalink Reply by craig on April 1, 2013 at 3:58pm

I think he has around 20 acres or so. Sorry for the late reply, vacation, then Easter kept me away abit.

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