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Fossil Creek has one lease filed with Belmont County. 84 acres in Goshen Twp. Filed 3/21/11.
I was told that Gulfport made Wishgard their official land agent for Belmont County around the end of May, whatever that means.
Who is Fossil Creek? This is the first I have heard of them and I have been actively watching the shale play in Belmont County since last September.
In Belmont County, Wishgard has been/is acting as a landman and is getting landowners to sign leases with Tri-Star Energy Holdings, Inc. of Ebensburg, PA . Tri-Star in turn bundles groups of landowners and subsequently files a lease as Grantor with Wishgard LLC as Grantee and giving Wishgard a 1/2% Royalty interest in all the leases Wishgard brought them. Who exactly is Tri-Star Energy Holdings? So far, they have over 330 leases filed in Belmont county. I keep hearing about Gulfport Energy but they have only 2 leases filed in Belmont County, one for 275 acres and one for 403 acres which i assume they are putting together as one 640+ acre drilling unit. Is Tri-Star a division of Gulfport? Are they just another middleman who is going to flip the 300 some leases to Gulfport (or some other O&G)? I know they paid $2000/acre for the leases they do have, with the landowner getting $1840/acre and Wishgard getting $160/acre (8%). If Tri-Star is a second layer middleman between the landowner and Gulfport, the landowners who signed with them could do a lot better without two other entities getting a cut before the lease ends up with a producer.Since Wishgard got $160/acre bonus and 1/2% royalty, I wonder what Tri-Star's cut is?
I also found this article about Gulfport assigning Rhino Resources a partial interest in their Ohio Utica Shale lease holdings. looks like they did this to free up some cash either to drill or buy more leases. It links Wishgard, Tri-Star, and Gulfport but doesn't explain the exact nature of their relationships.
I don't really need their contact information. I just had not heard their name yet. What area are they seeking leases in? Wishgard is supposedly Gulfport's official leasing agent in Belmont county so we won't likely see Fossil Creek in our neighborhood. I really don't want to deal with any middlemen anyway and I am for now working with a landowner group that has around 20,000 acres and is dealing directly with a number of O&G companies. The cut the middlemen are taking should end up with the landowners in our group. I believe we will get a larger signing bonus, a larger royalty, and better lease terms than are being offered by these middle men. It has already happened with 3 large groups in SE Ohio and all indications are that our turn is coming soon.
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