EAP / Eclipse leasing in Carroll County

I have been offered a lease for property in the Dellroy area by a landman representing Eclipse.  Are others in the county seeing renewed interest?   Some of my neighbors have been approached as well.  Existing Utica production is relatively nearby.

Views: 985

▶ Reply to This

Replies to This Discussion

Permalink Reply by Brian Werner on December 2, 2021 at 6:41am

I have been approached by R&S Operating. I'm 3-4 miles north of Dellroy. The offer is variable but has a very low sign on bonus for any of the royalty options:1/8 royalty w/ $500/acre, 3/16 royalty w/ $375/acre or 1/5 royalty w/ $350/acre.

Permalink Reply by Steven A Joliat on December 2, 2021 at 6:50am

Thanks Brian, the 18.75 and 20 percent royalties haven't been seen in awhile.  I am having a hard time getting  Eclipse to budge above 15%.  Did they say that is a no deductions royalty or is that with deductions?

Permalink Reply by Joe C. on December 4, 2021 at 3:00am

Steven, the landman shouldn't be representing Eclipse, a merger between Blue ridge and Eclipse happened a few year back and was renamed Montage resources.  Last year Montage merged with SWN. 

Permalink Reply by Steven A Joliat on December 4, 2021 at 6:31am

Thanks for the correction,  I was under the impression Eclipse had some association with EAP in the Carroll County area.  Perhaps they had some acreage positions in common in the past or currently.  The lease proposal I have does represent EAP Ohio, LLC.  It is silent on partners or working interest participants.

Permalink Reply by Joe C. on December 4, 2021 at 11:05am

Encino Acquisition Partners (EAP). In October 2018, EAP closed a $2 billion deal to buy Chesapeake Energy’s Utica assets in Ohio, acquiring approximately 900 operating and non-operating wells with approximately 900,000 acres of oil and gas leases.

Permalink Reply by Dott on December 5, 2021 at 11:41am

Steven,

As Joe said EAP is a Partner of Encino. Encino handles all the books etc. Many have said that EAP will not go above that 15% Gross but the signing but bonus should be much more than what Brian Werner was offered by  R&S. The old days are gone. EAP does not do speculative deals but only leases what they plan to drill. You should want to be drilled. Who knows how much drilling be even be done in the future is the way I see it. It's like a needle in a haystack.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service