Replies to This Discussion

Permalink Reply by Paul Martinelli on April 25, 2014 at 7:45am

I am a Landowner.

 

The game is rigged only because the O/G companies have a longer time line than we do.   

 

to make a quick buck....we sell out cheaper by signing poor leases or selling mineral rights.

Permalink Reply by Joseph-Ohio on April 25, 2014 at 7:48am

They enjoy that advantage over most all landowners I'm thinking.

A much longer time line and much deeper pockets.

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Permalink Reply by Jim Litwinowicz on April 25, 2014 at 8:04am

Crazy attitude you guys have. Do you really believe these companies are gonna just sit on the sidelines just to screw you over? If they thought there was a lot of oil there that could be produced, would they take the risk of letting other companies lease all the land?

There are over a hundred E & Ps out there, all wanting to drill for oil. Many have more gas leaseholds than they need and would love to get into a solid oil play. Why would EQT, BP, or other companies that already hold some leases in the area not solidify or extend their holdings if they were confident of producible oil?

Much more likely is that the oil is too tight, that they have yet to decipher the code to producing it. They will not spend hundreds of millions on leasing land and infrastructure until they are confident they can get a solid ROI.

Permalink Reply by Joseph-Ohio on April 25, 2014 at 8:06am

Riiiiiiiiiight Jim - Riiiiiiiiiight.

Permalink Reply by 0i7okn54zwbdo on April 25, 2014 at 8:14am

Remember Joseph, on a long enough time line everyone's survival rate drops to zero.

Permalink Reply by Joseph-Ohio on April 25, 2014 at 11:06am

Not true for rhe O & G / E & P boys !

All they have to do is raise their sell costs as the entire population are there captive customers !

Once again only in my most humble opinion as always.

Permalink Reply by Joseph-Ohio on April 27, 2014 at 3:53pm

BTW Jim, it's not just me - it's the entire landowner class that's taking the beating that I'm perceiving as taking place.

Again as always only my most humble opinion.

Also, I'll offer that perhaps it's just not profitable enough right now for the likes of a maJor (like BP) to develop especially as the northern tier also awaits infrastructure. Perhaps it's just easier to sell it off instead ?

Theories and perceptions only of this individual mushroom being fed manure and kept in the dark.

Aggravating none the less.

Permalink Reply by Jim Litwinowicz on April 27, 2014 at 4:03pm

Joseph;  I understand the frustration. Hard to know just what is going on.  But I think that BP came in late a didn't get a hot spot.  Gas prices are still below a few years ago and dry gas isn't worth doing all the drilling and installing all the expensive infrastructure. And with so many companies drilling all around the country, and wells getting more and more productive, it doesn't look like gas prices will jump any time soon. Hard to justify spending a billion or more with so much unknowns.

Hopefully, someone will soon figure out how to get the oil out and Trumble and the rest of the area will also boom.

Permalink Reply by deer spotter on April 25, 2014 at 8:18am

At $100.00 plus a barrel production companies would be drilling well after well like in the Eagle Ford or Bakken Shale. They just do not have their drilling and fracing procedures perfected yet. I'm a leased landowner hoping for a well. Not working for a drilling co. Could be a long wait for northeast Ohio and northwest PA. Wish the news was better but at this point it is not.

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Permalink Reply by James Vanderink on April 25, 2014 at 9:14am

Remember there is a major player up on Chandlersville Road in Zanesville. They have been pretty quiet in the past year. Watch them.

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Permalink Reply by Mike Fulper on April 25, 2014 at 11:26am

Clark well doing ok at 120 bbl a day average...

If Kastelic well does as good... weez be happy...

AEP running high power electric lines to Kastelic and dobeck wells ..

as they "know' they will  need pump jacks....

$ figures on ODNR report don't add up... weird...

EQT must be selling oil for $10 a barrel ??

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Permalink Reply by James Vanderink on April 25, 2014 at 12:30pm

Thank you Mike Fulper. AEP power lines! Love it! That screams the next phase in the oil window powered by GE/Lufkin.

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