Replies to This Discussion

Permalink Reply by ML on January 11, 2013 at 3:23pm

Apparently nobody had any experience good or bad.  Have you developed an opinion about Carizzo in the past month? 

Permalink Reply by Faith Johnson on January 17, 2013 at 3:09pm

Yeah, i put this same question on Guernsey site and they were saying that they are not doing much drilling and some say lease flippers so i dont know!!

Permalink Reply by ML on January 17, 2013 at 3:45pm

Sorry for my confusion.  I found it on the Guernsey site.  I have heard that Carrizo may have some drilling plans for Tuscarawas county in 2013 so maybe they will be a "driller".

I used to think flippers were bad but does it really matter?  Is it really that bad if you get the terms and compensation you are satisfied with from company A and they flip to company B that wants to drill?  There is also talk of negotiating for the right to give approval before your lease can be transferred to another company.  If the company you signed with is not interested in drilling why would anyone ever want to block the lease from being transferred to a company that does want to drill?

Permalink Reply by Sticky Fingers on January 31, 2013 at 6:56pm

My opinion is signing with a company that you feel will be most likely to develop your minerals would be the best option. The sooner a company drills a well the quicker the royalty checks will show up right? If you sign with someone who is going to try and assign your lease and they are unable to do so you would miss out on 20+ years of royalty if everyone else around you signed up with companies that drilled wells. Sometimes the extra couple hundred $ less on the bonus could lead to hundreds of thousands of royalty checks that would have never came if you took the extra up front and signed with a "flipper".

Permalink Reply by 0i7okn54zwbdo on February 1, 2013 at 8:11am

That's a tragically myopic way of looking at things.  I suppose people used that logic when they signed up with CHK.  Made sense.  Except now they're trying to dump a huge portion of their leases and are pretty much only drilling two counties.  So if you're in Mahoning and signed with CHK your land won't be drilled for a long, long time and it won't be sold because it's part of a JV agreement.  Oops. 

It's not always black and white, folks.  There are no simple answers worth knowing. 

Permalink Reply by Faith Johnson on March 21, 2013 at 2:52pm

Thats right!

Permalink Reply by lynn on March 21, 2013 at 4:24pm

Oh man Marcus, now you've really depressed me.  Was hoping I'd see drilling here while I'm still young enough to enjoy it!!  Do you know who their JV is with?  Have a good day!!

Permalink Reply by 0i7okn54zwbdo on March 22, 2013 at 2:21am

CHK has a JV with Total, a French energy giant.  The focus of the company is to drive down old debt through asset sales and drilling new wells.  That's why you see CHK drilling every inch of Carroll county as fast as they can.  Total is paying 75% of the drilling cost.

Permalink Reply by Audie Dunbar on March 22, 2013 at 12:39am

I have heard some good stuff about Carizzo (this was a couple of years ago), and if they were leasing in Butler County, PA, I would sign in a not have a problem signing with them..

Permalink Reply by Faith Johnson on June 6, 2013 at 10:59am

Well thats who i am going with they still want our property they are ovenighting the leases i will compare it to the Shell lease we had it was a good lease!

Permalink Reply by Mike C. on June 6, 2013 at 12:19pm

Congrats.

Permalink Reply by Faith Johnson on June 10, 2013 at 10:59am

Only problem its net not gross at the wellhead!!!

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