Replies to This Discussion

Permalink Reply by D M on July 21, 2013 at 2:40pm

I don't know the answer to that. There must be so many variables that BP and others have to look at. The best uneducated guess that I have is that BP will pick up steam when they have pipelines in place to market their (and our) products. Pipelines are underway in Trumbull Co. and I bet more will soon be added. The ALOV leases will also factor in heavily. I would guess that BP will want to produce on as many leases as possible before they have to pay again for land they have already leased. Our lease gives them 5 yrs from 4/17/12. Getting paid again would be nice, but I would rather be part of an active well before then. The next few years should be very active, and hopefully will see a lot of productive wells dug in our area. I suppose the order of go is up to BP, willingness of unleased people to join a drilling unit, and geology. Best of luck to you. Watch for pipelines.

Permalink Reply by Kim Bickel on July 21, 2013 at 3:18pm

BP responded to my email. They put my name on file.

Permalink Reply by Linda A on September 28, 2013 at 3:25am

don't know where you are located in Trumbull county Kim, but we are in Lordstown Village and Halcon has been actively perusing a lease from our 1+ acre lot on S Rt 45.  If you don't want to wait, you can contact Jarrod Riggs @ 817-266-7197 - believe he is out of TX.

jriggs@T2Land.com

Good luck! 

Permalink Reply by 0i7okn54zwbdo on July 22, 2013 at 2:44am

The word is that BP is waiting to see well results from their stuff and Halcon before implementing a wider program.  Additionally, it seems that they're not jumping in because, as you mentioned, pipelines are not well developed yet.  Strong well results will drive more pipeline build out which will in turn drive more drilling.  It's a delicate balance.  I wouldn't expect huge, explosive growth in the very near term.  My best guess (which is merely my opinion, mind you) is you'll see more happening by Spring/Summer 2014.

Permalink Reply by Craig Stull on July 22, 2013 at 3:39pm

I believe Halcon has struck oil, they are investing 70 million dollars for a crude oil storage facility in Lordstown.

Permalink Reply by 0i7okn54zwbdo on July 23, 2013 at 2:21am

That would line up with the geology.  

Permalink Reply by Linda A on September 28, 2013 at 3:28am

...and I think it is at the old Warren Space Center, on Rt. 45, 1-2 miles north of Lordstown.  Want to get oil from Kibler farm to space center...  Please correct me if I am wrong.

Permalink Reply by Craig Stull on August 1, 2013 at 7:19am

Sir Marcus, Seams like to me were ever Bp is drilling they are leasing shortly after. The pipeline is coming. They currently only have two rigs drilling(one in Mecca and one in West mecca). The big question for me is, a lot of leases will expire in the next three years and eight months. Will all there leased land in Trumbull  get drilled upon in this time frame? How many rigs will be drilling this time next year 4,6,10 ?

Permalink Reply by 0i7okn54zwbdo on August 1, 2013 at 2:34pm

Don't those leases have five year extensions attached to them?

Permalink Reply by MJ on August 9, 2013 at 4:33pm

Marcus

8 year lease total - 5 yr w/3yr extension

Craig

In what way was the ALOV lease "terrible"?  I am not a lawyer.  Was this lease "great" for the landowner? maybe not -Was it a better lease than dairy and grain farmers have  been offered for decades with shallow well leases?  If the Kibler well is any indication of what our area might produce -  do the math my friend - if you own one acre - you are good - retire!

Permalink Reply by Linda A on September 28, 2013 at 3:33am

do the extensions require them to 'pay' the initial leasing rate again?  Or, is it just an extension of original lease w/o additional payment. 

You are right, MJ, people cannot see what is coming tomorrow, and must not get greedy.  I know the Kiblers and Limings who finally benefited from their years of struggling on family farms.

It all depends on your age and financial circumstances when dealing with these investors.  greed will come back and bite you in the butt most every time!

Permalink Reply by Craig Stull on October 14, 2013 at 9:46am

MJ, Sorry I mist your post.  I have nothing bad to say about my lease, there is just some people on GMS that want to make it sound like the Trumbull ALOV (bp) lease is a bad lease and those people do have an agenda. BTW there is a lot of activity at the zerovich well on 46 and the six inch dominion pipeline is about one mile from this sight. Everything I,m hearing is both wells in Mecca and West Mecca are going to be really good. I would not be surprised if these top the Kibler well.

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