Buying Trumbull County

If you live in Trumbull County, Ohio you may have received offers to buy your mineral rights. Those offers have probably been quite low.

Buy low, sell high; Strike while the iron is hot etc. The folks behind these offers are attempting to take advantage of the disappointment of land owners in Trumbull County. Disappointment by the recent actions of BP and Halcon. They see an opportunity to buy mineral rights on the cheap and sell them later for extreme profits when the value of those mineral rights rise.

If someone is willing to buy your mineral rights then it must mean that they see future development coming. My suggestion is that landowners remain calm and exercise a little patience. Development will come.

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Permalink Reply by Joseph-Ohio on July 16, 2014 at 4:46pm

Good to have you around the old campfire Aaron R.

Hoping for much less than a 10 year wait.

Do you know if EV and CHK still have their positions in the north on the market or if the may have combined forces or if they looked at the BP and HK acreage ?

Any news would be appreciated.

Permalink Reply by Aaron R on July 17, 2014 at 1:04pm

I am not sure about CHK - I think they are divesting of a lot of assets as quietly and diligently as possible.  EV is interesting - the latest I have heard is that they are going to hire some drilling and fracing crews to do some unconventonial wells themselves.  My guess is that they would like to get some good results and then they could sell their positions for a much better price. I don't see them as a long term E&P player, but I do wish them a lot of success! 

Permalink Reply by Joseph-Ohio on July 17, 2014 at 1:17pm

Thanks for your reply Aaron.

CHK quietly divesting - any transfers in the north that you've heard about ?

Wishing EV much success as well.

Heard they were trying to do Horizontal Clinton Interval wells somewhere in the Oil Window (Mahoning or Trumbull I think). Have you heard about any plans further north ?

Permalink Reply by pg guy on July 17, 2014 at 1:28am

Please be careful of terminlogy.  You use of the work "explosive" in reference to hydrofracturing feeds into the anti-development hysteria.  

I do hope by now that everyone spending any time on this site knows that there are no explosives involved in hydrofracturing. It is a matter of water and proppant, plus a few chemicals, being pumped at very high pressure, so as to cause fractures (cracks) to develop in the shale, providing pathways for hydrocarbons to get to the well bore.

This may sound like a minor quibble, but if we are to make any headway against the anti-development crowd, and the undecided individuals who are confused by all the rhetoric, we must not cloud the picture with inaccurate terminology.

Permalink Reply by Aaron R on July 17, 2014 at 1:05pm

Good point - I stand corrected!

Permalink Reply by jason irvine on July 16, 2014 at 11:45pm
Very good post Arron. Educated and well thought out. I agree. It gets old reading the nasty comments without backing it up with anything useful.

I don't have a dog in the fight. So I don't benefit either way. But I think you hit the nail on the head. I'm keeping my fingers crossed for everyone in the play.
Permalink Reply by Sage59 on July 17, 2014 at 12:49am

 Thank you Arron.   Very well stated.   Further reasons for landowners to be cautious with our mineral rights as ALOV leases possibly - that's possibly - expire over the next several years. HBP leases will also have to be amended to larger unit sizes (clouded by forced pooling as Joseph has pointed out.)   At the end of the day, if a Landman knocks on my front door, I will welcome he or she as an opportunity. Thanks to this board, informative posts such as yours, questioning posts such as Joseph-Ohio's, negative but very useful posts from knowledgeable people and those in the industry, landowner supportive posts from other landowners and those in the industry - we landowners will be able to negotiate with them intelligently.

Permalink Reply by David Perotto on July 16, 2014 at 3:03pm

The Jewett 1H (BP well) showed up in the ODNR new permit list yesterday. Status is "producing". Anyone know why a new permit was issued?

Permalink Reply by Joseph-Ohio on July 16, 2014 at 3:14pm
Now that's interesting David.
We'd like to know more.
I'll be searching, kindly do the same and keep us informed should you discover more info.
I'll do the same.
Permalink Reply by Joseph-Ohio on July 17, 2014 at 12:22am

Found a new (July 2014) permit listed at the ODNR for the Jewett 1H well.

The latest one I saw was issued to the Operator (BP) to 'Plug and Abandon'.

Consistent with all the new discussions here on GMS about BP Plugging their wells in the north.

Permalink Reply by Sage59 on July 17, 2014 at 10:37am
Permalink Reply by Joseph-Ohio on July 17, 2014 at 10:43am

Thanks for the info. link Sage59.

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