Carizzo good or bad??

Need to know any info on Carizzo that anyone has had dealing with them they are offering to lease our land for $5500 and 20% for 5yrs already got burned by Shell, so need any info good or bad! Thanks!!

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Permalink Reply by jonathan M. on December 8, 2012 at 4:51am
I would at least give them a shot. I would be inclined to take less money upfront to sign with Gulfport considering their track record with utica production.
Permalink Reply by Jim Litwinowicz on December 8, 2012 at 11:54am

Faith; put in your lease unit size limits for vertical wells that are much smaller than the  units  for horizontal wells.  Clause should state that vertical well units should be a maximum of 40 or 60 acres.  That along with a solid Pugh clause means a single vertical well cannot HBP large tracts of land.

Permalink Reply by Oliver Perry on December 8, 2012 at 12:40pm

Faith,

I would contact Gulfport if I were you, see if they have interest and if so, what they would offer. It can't hurt.

http://gulfportenergy.com/

Permalink Reply by Faith Johnson on December 10, 2012 at 3:14pm

Ok it wont hurt to try!! Thanks guys!!!

Permalink Reply by Rob Grodin on December 11, 2012 at 8:48am

Faith-

They are a smaller to mid sized E&P known in the indusrty for very competent geology and technical capability. They recently sold their acreage position and permits in Trumbull county to Halcon resources to focus on the southern counties that have been  proven. E-mail me if you need more detailed info.

 

Rgrodin@gmail.com

 

Permalink Reply by Mickey Shank on December 13, 2012 at 6:31pm

Faith,

     My brother in law got the same deal with shell and he was contacted by someone for 5K + 20% , not sure if that is net or gross. We are going tomorrow to look at the lease and see if we can get a copy, the guy wants him to sign and said he would drive to Cleveland to have his wife sign. That sent a few red flags up for me ! I signed with Gulfport and am happy with their lease. Please keep us updated and I'll try and do the same. I wish you all that are unsigned the best !

                   Mick

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