BP Sold ALOV Leases

Per BP it has divested sold leases in Trumbull County to Halcon and Enervest in Sept/Oct 2014. Appears these co's will drill soon since bought leases now when BP had 16 months left to either release or let go.

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Permalink Reply by Craig Stull on March 6, 2015 at 1:59am

George,  BP sold three wells ONLY in Trumbull county,  NO LEASES SOLD !!

Permalink Reply by Alan Bowers on March 6, 2015 at 2:59pm

The first round of ALOV-CHK leases were signed April 8-9,15-16 in 2011, with a 5yr first term.  That puts them at just over 13 months before they need to be renewed.

The ALOV-BP leases were signed April 2012 and will need to be renewed in April 2017.  The BP leases were done over a 1-week period just over a year later from when the ALOV-CHK leases were signed.

Permalink Reply by Joseph-Ohio on October 29, 2015 at 1:25am
Wondering how many Utica era leases there are in Trumbull County ?

Wondering if anyone knows if any of those Trumbull County leases transferred / were sold (since last input) ?

Can anyone share any news along those lines ?
Permalink Reply by MJ on October 29, 2015 at 4:42am

Trumbull county recorder's website will tell you all you need or want to know joseph.  Type BP in the search documents and it will pop up with all of BP's transactions recent and past.  Recorded leases, sold leases, lease release, lease reassignments etc....along with land owner's parcel numbers, acreage, location etc...

Permalink Reply by Joseph-Ohio on October 29, 2015 at 5:02am
Went there.

Tons of Lease documents recorded - 5280 records reported for a 'Simple Search'.

The site directed me to do a 'Detailed Search' so I did and ran into a multitude of records.

Guess I have to let it go unless members would volunteer info. to this discussion.

I'll wait and see.

Too daunting a task for me to track them each down to discover status.

Thanks MJ.
Permalink Reply by Sage59 on October 29, 2015 at 9:10am

As far as I can tell, the Trumbull ALOV - BP 2012 leases remain as they were when signed, except for the leases involved in the three wells Craig mentioned. The only recent lease activity in Trumbull, on 10/21/2015, was the assignment of 1,392 HBP leases from Enervest to  CGAS Properties, LP. CGAS Properties, L.P. was incorporated in 2006 and is based in Houston, Texas. CGAS Properties, L.P. is a subsidiary of EV Energy Partners LP.  I'm guessing that transaction is only a financial/tax move for Enervest, and nothing to be excited about. The old leases have been bartered about many times.

Permalink Reply by Joseph-Ohio on October 29, 2015 at 10:32am
Thank you Sage59.

I think your reply to be very important information - perhaps even 'actionable' /'reactionable'.

Thanks again.

J-O
Permalink Reply by Joseph-Ohio on October 30, 2015 at 9:56am
Did a little research and discovered that it's looking to me like that for most practical purposes CGAS = EVEP and EVEP = CGAS.

It looks to me something like a rose is still a rose going by any other name - or something like that / along those lines.

They look to me to be really BIG in leaseholds in the northern tier here in OH.

Good or bad ? ?

Thinking / looking to me like there are a lot of leases (if 3 year and /or 5 year) coming to term (when taking a cursory look-see at the Ashtabula County Recorder's pages on-line); and there also appears to be many 'Assignments'.

Wonder how it's all going to go forward when it finally shakes out ? ?
Permalink Reply by Joseph-Ohio on October 30, 2015 at 3:59pm
CGAS ?

What's the acronym stand for ?

Chesapeake Gas ?

I wonder ?

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