Replies to This Discussion

Permalink Reply by Amanda on August 16, 2013 at 6:27am

Thanks Warren.  Hope it's a good one!

Permalink Reply by Craig Stull on August 25, 2013 at 3:59am

Well in Johnston will be put into production in mid September and the wells in Hartford and Mecca (zerovich) will be put into production in mid November.

Permalink Reply by D M on August 27, 2013 at 10:17am

Craig, (or anyone else for that matter)  when they say that those wells are going into production do you think that will include the wet gas condensates? (I know the wet gas is not official yet, but has anyone heard yea or nay?). Or will they be selling dry gas only until larger lines are available to move the wet gas? It looks like a 4" line coming west from the Buckeye well on 305, then turning south on Warner Rd. Do you think that 4" line is a gathering and distribution line for that well? Does anyone know what the pipeline size is for an average Utica well when it comes to moving the products of that well? I know the pipeline increases in size as wells are gathered and added. I imagine we will be seeing some larger lines in Trumbull county in the future for gathering all of the wet gas wells we hope we are part of.

Permalink Reply by D M on August 31, 2013 at 9:35am

Hi all. I just noticed that 234 properties in Trumbull County, that are technically HBP by old leases, are in a document recorded 8/27/2013 by CHESAPEAKE AEC ACQUISITION LLC. The original lease assignment document was signed 11/01/2011, but was not recorded till this recent date. I wonder if we are being grouped together for a sale to yet another company? You might want to check and see if your property was involved. Most of the leases assigned were written in the early 70's. We have some property involved in this, and to be honest it is difficult to figure out who controls the mineral rights now. Our, and many other, properties have changed mineral rights ownership many times before and after 11/01/2011. I wonder why this assignment was recorded 2 years after it was signed. Is the sale of a large block of prime drilling rights brewing, or is it nothing at all?  Any Ideas or guesses?

Permalink Reply by 0i7okn54zwbdo on August 31, 2013 at 4:32pm

It was assigned by Chesapeake Appalachia to Chesapeake AEC Acquisitions, so it went from one subsidiary to another.  Not sure why.  Tax implications, maybe.  Or maybe your instinct is right and it's going up for sale.  

Permalink Reply by MJ on August 31, 2013 at 4:54pm

There will be a lot of drilling in Trumbull in the coming years DM.  That much I know for sure.  Halcon and BP will be doing theyre thing. Infrastructure is coming as well - will take time.  IMHO - there is a literal gold mine under Trumbull, Mahoning, Portage, Mercer .......The things that have been going on in other places(Noble,Guernsey,Carroll etc) will/are coming here.  Hopefully a good thing for all.  HPB lands are the logical first ROI for the O/G Companies, with some exceptions of course.  I am no expert - just trying to learn and teach as we go forth with what is certainly coming to us all.

Permalink Reply by bruce c on September 1, 2013 at 4:47am

I'm not sure WHAT IS GOING ON HERE,  How many time can Chesapeake sell a lease!!

I was part of this transfer, my wells are not part of Exhibit "B" and I did not think Chesapeake still had any interest in the lease, they sold the Shallow Clinton Wells to Eric Petroleum in Nov. 2010 and keep the deep rights but then sold them to Tracker Lario in Oct. 2012. But let the original 1970 lease is part of this transfer. 

Can anyone explain what is going on here??

Permalink Reply by 0i7okn54zwbdo on September 1, 2013 at 6:57am

It's likely that this assignment is merely a transfer of existing overrides from one subsidiary to another.  Pretty typical in the industry.  CHK sells to Lario x% but keeps a cut for themselves, then has to carve out those overrides amongst the various entities.

Permalink Reply by D M on September 8, 2013 at 3:35am

Just read in shale sheet that BP and Halcon are recently picking up and signing land parcels throughout Trumbull County (within last few months). Some of those parcels are very small, some are large. In a quick check some leases were as small as 1 to 2 acres. In the past I know parcels smaller than 1 acre have been leased. I hope and imagine that these are being picked up to fill in future units. BP has been particularly busy in Johnston, but all of Trumbull seems active. Hopefully the Northern play is in process of picking up steam. Remember that we are 2 to 3 years behind the development of the Southern play. Nothing is a "given", but to a layman like me, the lease activity (especially concerning small parcels) is a good indicator of our future, and shows continued and serious interest in what is sitting under us. We all just have to hang in there.

Permalink Reply by Kim Bickel on September 8, 2013 at 4:08am

Do you know who we contact to look into leasing?

Permalink Reply by D M on September 10, 2013 at 11:41am

Marcus, anybody!  It seems that Trumbull County has been mortgaged. DEUTSCHE BANK TRUST COMPANY AMERICAS / BOWLES, P NATHAN-JR-TR has written a mortgage to Chesapeake Utica for 500,000,000 dollars. 3014 leases were used as collateral. These are leases written from (approx)1970 to 2011. The original document was dated effective 08/30/13. It was recorded 09/05/2013. They are willing to loan HALF A BILLION DOLLARS to Chesapeake for our HBP leases. In other words, a huge international bank believes that there is something incredibly valuable under Trumbull County. I doubt that this much money would have been loaned to anyone without full belief in the collateral. I have attached the 178 page document for anyone to see if your land is involved. Any speculation on what this might mean?

Attachments:

• Deutsche Bank.pdf, 6.1 MB

Permalink Reply by bruce c on September 11, 2013 at 1:41am

Same thing in Mahoning County, Thousands of Lease were Mortgaged in Mahoning Country on 9/05/2013 including mine!!

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