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Permalink Reply by CW on Tuesday

I emailed Frio Resources and they said Freedom Mineral Partners were their exclusive leasing agent.

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Permalink Reply by caualie on Wednesday

  Thank You. Never heard of either one of them operating in the Utica. 1 source says offering $2,000 sign on for 5 yrs. No other details.     Might try to make the meeting & at least hear them out.  But if only 1 company has had even mild success up here ?  I don't know. Could  be risky tieing up with a newcomer.

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Permalink Reply by David Cain on Thursday

I've been talking to an agent from Freedom Mineral Partners for over a year now.  In my case, they are interested in acting as an agent on my mineral rights and selling them to Gateway.  Not aware of them in any other capacity.  I don't normally like to deal with land men/agents, but the guy I have worked with has been very pleasant and easy going.  I haven't agreed to sell anything yet, but am seriously considering selling a portion.  Good Luck

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Permalink Reply by caualie 3 hours ago

Attended the meeting. As CW said they claim to be leasing for this Frio Resource outfit, whom from what I gather has never operated a well in the Utica .  Offer is $2,000 /acre, 16%  5 years. Their option to renew in 5 for another 5. No details if gross or after deductions.  Expressed some willingness to negotiate on protections but seemed hard & fast on the money , even admitting they had done earlier leases here paying an extra $1,000/acre once drilling began but that offer now off the table. Say they are only interested in 2 townships. Berlin & Milton & western Ellsworth. Very small area. Claim want enough to put a pad somewhere in that area. Why ? Didn't say. Puts them west of the recent Wehr well, which they kept downplaying as "expieremental" & no big deal.  Emphasized they are the only game in this failed area right now, which seems true. My personal impression was Frio gave them X number of dollars to secure enough acreage for 1 multi lateral pad & they are either close to that or running out of budget. Decent turnout if they only invited that small an area. Some question /answer afterwards. My impression  & only my impression ,was crowd somewhat disappointed in the $2000 but listening , however when they dropped the 16% number & admitted they'd taken the drill bonus off the table many just wanted to go home.  Talked to a guy leaving who I'd never met in my life & we both had exact same thought. Why in world would an operator drilling their 1st ever Utica well target a very small specific area of a county which with 1 exception has produced nothing but " dud wells" ? Their own words.

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