Beland Utica Energy LLC, if you have not heard of this company in Ashtabula, you soon will.  Beland out of Texas is opening up an office to lease aggressively, your time may be upon you.

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Ron,

I found this thread on the go Haynesville shale site:

http://www.gohaynesvilleshale.com/forum/topics/beusa-1

It appears beusa is the parent company, owned by a wealthy Argentinian family. Couldn't find much information about their operations in Texas. If this thread is correct, they have some capital behind them.

Has anyone been contacted by Beland in Ashtabula County?

They're a subsidiary of Bridas, which is partially owned by CNOOC.  They're a major, major player.

CNOOC Limited is a subsidiary of China National Offshore Oil Corporation.

Remember jokes about digging all the way to China?

It looks like China are digging all the way to Ohio --- no joke.

 

JS

 

 

Hey Ron, is there any contact info for Beland Energy ? Thanks.

Bill,

I'm not sure they want this info out yet.  As always I will let info. out as long as I am respectful of the sources Ohio Land Management has developed.

That is true. They limited their leases to Wayne and Colbrook townships in southern Ashtabula county. My understanding is that the land owners have been paid the signing bonus money. Apparently their first well is to be drilled in April. That should help give insight in to the Ashtabula potential.
That's what I heard and expect that one will be issued in the coming months.

Double confirmation on Black Ridge.  They paid $4,250/acre and 18% I believe.  Hopefully they are talking to land groups like Buckeye.

Fang,

I agree that a localized group can often be beneficial and can save the landowner some money.  However, every group needs a leader.....someone who is willing to invest the time to organize landowners, consult with attorneys,  and negotiate with the O&G companies.  This is something that most people are not willing, or don't have the time to do.  Thus joining a landowner group is the next best alternative. With that being said, I believe Buckeye Mineral is one of the better groups out there.  Yes, the landowners in Trumbull did experience some problems, but from my understanding it was mostly due to title discrepancies.  Because of this Buckeye Mineral continues to express(to Ashtabula landowners) the importance of having a clean chain of title.  They have also stressed the advantage of having contiguous tracts of land.  Believe me, my property was 1/2 mile away from the original Black Ridge group and I would have signed if I could have.  Should Buckeye's deadline expire and another "localized" group form(out of necessity) in my area, then I'll probably go that route.  Until then, I feel Buckeye provides my best chance of leasing.   If you are in a position and have the time to organize a group, then more power to you.....go for it.

Blackridge came in a while ago but I believe they only bought South of Route 6. The dollar amount and percentage you listed is right from what I understand. Blackridge stated that were eventually going to go North of Route 6 but had no timetable for it.

As of right now I do not know of anyone (other than Wisgard) that has offered any money or leases to owners North of Route 6. Have not heard of any major players pounding the pavement yet to buy this unleased land. I looked at the Blackridge lease and it is almost identical to ALOV but I believe that they may own all rights as opposed to just the deep rights like the ALOV lease.

 

My guess is that some major players are sitting and waiting for test well data to come out. If it appears positive (which I hope) then activity in Northern Ashtabula should pick up greatly. Whether you go with a landowner group or by yourself thru an attorney is your choice. I would hope that credible lease offerings will come before the end of the first quarter/2013.

If anyone in the Ashtabula group can add any positive feedback or credible inofrmation please feel free as many of us unleased landowners are sitting and waiting for hopefully good expectations

 

 

I personally spoke with Beusa a few months back, and confirmed their intent to lease further north in Ashtabula, but no timetable had been established yet.  In my opinion, they will probably be competing against Halcon who publicized their leasing target map back in Oct-2012 which includes townships as far north as Denmark and Pierpont.  $4,250 /acre should be considered a baseline, with potential for more depending on preliminary well results in the area.

It's important that Ashtabula landowners understand the huge oil potential under their feet.  The Point Pleasant formation under Ashtabula County is much thicker than what previously published maps indicate.  It remains more than 100' thick even in northern Ashtabula as you approach Lake Erie (110' to 125' thick in Saybrook & Plymouth Twps.).  MFC's two Rose Run wells in Jefferson Twp. (permit #24531 and #24532, both drilled Aug-2011) logged the Point Pleasant at 174' and 315' thick respectively.  Other recent deep wells in Rome and Williamsfield Twps. show the Point Pleasant at 150' to 160' thick.

Several parties have been looking at Ashtabula...  but everybody wants to see seimic and test well results before take the plunge.  Interestingly, Halcon is on record stating that they view the PP and Utica formations as one continuous unit.  The combined thickness throughout much of Ashtabula County is 300' to 400' thick.  If both formations prove to be productive, things could get really interesting.

Ashtabula has world-class potential.  I concur with previous posts about Buckeye Mineral being the landowner's best option for realizing that potential.  It's critical that they get into a good landowner group, and it's equally critical that they take initiative to clean up their title as best as possible.

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