Buckeye Mineral
Anyone hear from Buckeye Mineral? I, as well as many others signed until the end of June. I realized it was a long shot for them to come up with a lease, but I expected an effort by them to extend the contract past June. Any one hear anything?
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Replies to This Discussion
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Permalink Reply by Joseph-Ohio on -
It's a fact that I read it (as posted by others)
on these pages. -
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Permalink Reply by Joseph-Ohio on
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To be most clear the information about the drilling being delayed came from messages exchanged between myself and other Ashtabula County posters who I've come to consider very reliable folks.
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Permalink Reply by Joseph-Ohio on
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I've also read that the rig they were going to use went
elsewhere.
I've also read that the Driller was concerned about having to work during the upcoming winter months due to a late start.
Maybe the things I've been informed of are rumor and maybe not.
Hasn't that been kind of the norm for posting here afterall ?
I guess only time will tell the true story.
Should someone discover the resultant facts kindly keep us all informed.
That's all I think I know.
J-O -
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Permalink Reply by K on
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I own property in Trumbull Township, undeveloped land. I have clear title and have been in touch with Buckeye Mineral several times and have been to a meeting. I read these boards often but rarely post. What are the chances that a handful of us can pull together continuous acreage and contact some oil and gas companies to see what kind of interest they have? I realize it may be a tough job since so much land in Ashtabula County is currently held by production. What I read most often on these boards is the frustration so many are feeling with the "hold up". I just thought maybe we could try this route. Maybe this is already being done and I am just not aware. If so, please let me know. If not, is there any interest in trying to do something like this and if so how successful do you think this would be?
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Permalink Reply by Depolarized Farmer on
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Mr. Rea ststed clearly in the last 2 meetings that BMD's Ashtabula acreage was being marketed by individual townships, and not on a county-wide basis.
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Permalink Reply by Joseph-Ohio on
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We're wondering (probably along with many other landowners) how BMD's been doing along those lines ?
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Got a letter from Buckeye Mineral yesterday, asking for an extension until December, and saying a geologist will be at July's meeting. That will be interesting, perhaps some information on the test well drilled on Rt. 45, one mile north of Rt. 6, on the west side of the road.
Many of us seem to be in the same boat, HBP, of the 650 acres around me all but mine are held by production. I do not know who owns the leases now, but when started there was at least 4 different companies involved. I was leased by Range Resources for 4 years, a one year lease extended 3 times. I declined a forth extension when they would not give me what I wanted. I'm thinking my next effort will be to find out who owns the leases around me , and see if there is a majority holder. If no majority holder exist, it seems it could be a real struggle to get everybody together. Anyone know of a resource that would show current lease owners on a plat map?
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James, I would think the local title bureau could help show current leases around us. I'm not sure they would have this information available on a plat map, but even if it takes a little effort I'd be willing to spend some time doing some research on this front. I'm clearly no expert on this, however it seems odd to me that so many of us feel the same frustration wondering why we haven't been contacted yet. To me it almost feels like because there is so much land in our county held by production the O&G companies are spending their time in other counties that are more available. If there is truly more acreage being held by production in Ashtabula County then available, or the acreage that is available is so spread out and in small parcels, why would we be a priority? This seems much harder then it should be compared to all of the other close counties around us. I have to believe its for a good reason. Just my 2 cents.
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Yes one could go to the recorders office for that information, but it is a convoluted process. I took me almost six months to find my own information, and I knew who owned the property 100 years ago. if the actual documents were on line it would be much easier to research back to 1984. For me anyway, its difficult to find a day during the week, to get up to the recorder's office. I may need to spend the time and become more proficient with the ODNR web page.
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Permalink Reply by Joseph-Ohio on
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We truly wish you good luck in Trumbull along the lines of taking the bull by the horns and making a more personal attempt at conglomeration of like minded landowners.
We see a pretty complicated marketplace out there.
You've written:
"To me it almost feels like because there is so much land in our county held by production the O&G companies are spending their time in other counties that are more available. If there is truly more acreage being held by production in Ashtabula County then available, or the acreage that is available is so spread out and in small parcels, why would we be a priority?"
Putting all the landowner leasehold fragmentation and HBP issues aside for the sake of this post, another priority (we see) is the current impact of the market for the recovered resources. It appears to us that the majority of Ashtabula County (as we read certain maps and information) is in the Low Geo-Pressure 'Black Oil' Window. There appears to us to be an easier market for Natural Gas Liquids and Volatile Oil. It appears to us that development is occurring where these natural resources exist and can be more easily recovered (easier than the Low Geo-Pressure Black Oil). Now, this is merely our best guess at the apparent priority rank and file and we're mere landowners. We hope that one day (hopefully sooner rather than later) the Low Geo-Pressure Black Oil will become a priority. We also think that when the sell price of Natural Gas rises and economics change it will assist in that day finally arriving. Also, we think that the Low Geo-Pressure Black Oil is already recoverable and the technology actually exists, but the economics just aren't there yet. We think it's simply easier to recover and sell the Natural Gas Liquids and Volatile Oil.
In Our Very Humble Opinion As Landowners
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Permalink Reply by Joseph-Ohio on
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James,
Don't know of any such that accurately ties current leaseholds to plat maps.
Who's drilling that test well north of Rt. 6 on Rt. 45 and wondering if it's a 'Wildcat' ?
Do you think it would do any good to contact the driller ? Maybe an interested driller could help conglomerate like minded landowners.
Your predicament sounds a lot like what's going on in my general rural neighborhood - and probably what's going on in the majority of Ashtabula County.
Seems like a lot of good could be done by some business entity (Law Office / Landowner Group / Driller-Developer Company / Major O&G Company / Major E&P Company). We think that's what Bob Rea's BMD was and is trying to do but, with no co-operation from the O&G Industry. It would be good to know the facts about what's been going on. it would be great if information were more forthcoming.
You mention that you didn't extend with Range Resources for the 4th time because they wouldn't give you what you wanted. There are also elements that we want in any leasehold agreement that we would sign. The Terms and Conditions as well as the money all have to be right. We care a lot about what we own and what we would be willing to sell to any O&G / E&P / Driller-Developer Company. We're not just looking to throw our land into the ring and settle for whatever the landowner membership owns that the promoter decides to offer - and especially if a promoter won't share (with the landowner membership) what it is that is being offered. Too scary for us. This is a new era and what served as a leasehold agreement in the past isn't doing the job in the present.
Keeping us in the dark doesn't work for us.
IMHO
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