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Permalink Reply by george m vietze on April 9, 2014 at 5:09am

There is some interesting activity in Erie County around the area of Adameck#1 the first deep test well activity that drilled over 7200' past the Utica.  That particular well has not been flow tested because of a dispute between the owner of the well and the operator that drilled that well.  Weatherford tested the well and the since then one of the participants of drilling the well has joined another company and reportedly leased over 10+ properties in that area and expects to proceeed with drilling new wells.  Their main emphasis

is stratas below the Utica where oil is the target.  We own a 270 acre property just south of Adamack#1

and watching this activity carefully since our lease has been purchased by a large gas company who has recently purchased the Norse distribution lines in NY and PA. and purchased our lease along with another

1300 acres on 10+ properties.  Our property has a National Fuel Gas distribution line on the property which includes a high pressure line.  Adameck#1 is located in Greenfield T/S and properties in Venango T/S and Greene Township are in this target area in Erie County, Pennsylvania.

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Permalink Reply by DONNA M SELLERS on April 9, 2014 at 7:23am

Thanks for the info.George.

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Permalink Reply by rmc on April 9, 2014 at 7:32am

Fossil Creek Inc is leasing the Utica shale in Marshall County and Ohio county Wv I was told they are paying 25 hundred an acre and 18.5 gross royalty it is a 5 and 5 lease. I don't know how long they will be signing people. If you look at the Marshall County site you can find there contact info.
Seems the guy is awfully busy signing people up from around Sandhill district and Cameron area.
I didn't like the unit size restriction so figured I'd pass.

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Permalink Reply by Tim Tarr on April 9, 2014 at 1:26pm

rmc,

I'm ~10 miles east of Ohio and Brooke County lines in Pa (Washington County). I'll add I'm in a producing (Marcellus) unit.

Make sure it is actually for Utica and not all formations. $2500 and 18.5% Isn't bad, not excellent but not bad (for Utica "only"). I doubt you'll get a lease for Utica with less than a 1200 acre unit allowance perhaps more. I would not "give" them that Option to renew (5+0).

Many,many other things to get too. Very first step is signing bonus and royalty than work from there. If they insist on 5+5, demand higher signing bonus.

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Permalink Reply by rmc on April 9, 2014 at 3:39pm

Thanks Mr Tarr for the heads up. I have already passd on this lease I believe unless something changes in the future. Pretty simple I would rather not have a lease then have one well drilled to hold 640 acres.

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