I'm in Ohio/Noble/Marion and continue to receive offers. 14 so far by mail, and another arrived yesterday. Post your information and I'll draw a map of "mineral interest". Have your offers increased, remained constant, or stopped coming? Just curious, and it might be fun. Thanks.
I do want to hold on but I don't see any in sight or facts anywhere stating that eclipse will drill since there not a drilling company! And have so many oxford leases now!
Althow they did promiss to drill 2014!
I'm not in bankruptcy or getting divorced..lol just wanting to get free of some payments
Rick: Aren't you in Beaver Township/Noble County? After calculating the highest paying GAS producers per lateral foot (oil calculation is next) according to the ODNR Q3 results, the biggest money land is in a narrow strip starting in central Jefferson County, running SSW through SE Harrison, NW and SW Belmont, NE Noble and NW Monroe. This strip goes right through Beaver Township.
Eclipse must be struggling to decide on a plan after purchasing Oxford, mostly because many of the leases they bought under the deal are limited to a 160 acre unit size and useless unless this defect is cured; much of this land is terrific and right in the "sweet spot" fairway like yours is. They have their landmen out trying to cure the defect with paltry sums, but are meeting only limited success. This tells me Eclipse has apparently not decided what to do: 1.) Dive in, give the landowners a fair shake like Antero kinda did with the Beck/XTO HBP folks, and get on with it. 2.) Sell the acreage to Aubrey (or ?) as is and let him and his deep pockets cure the leases and organize the drilling 3.) Take Eclipse public with an IPO and let the public money pay for the defect cure. It seems that the management is "dithering" on direction, so your situation will have to wait until it's decided. The kicker is that in late 2011 and early 2012, Eclipse leased a lot of acreage on their own in NE Noble and SE Guernsey. Add this to the Oxford acreage, and they may possibly have the second best acreage in Ohio behind either Gulfport or Antero. This puts more pressure on management to pick a direction since the acreage is great, it all has been "derisked" by Gulfport, REX and Antero, Markwest has put in pipelines and processing.....so what's the holdup? Part of it is because those pesky landowners want a fair shake. If it just wasn't for them....
So, sit tight, wait for a decision by Eclipse and 2014 may be the year that Beaver Township gets on the map as the best of them all....
Don't forget all the acreage Eclipse leased in Monroe Co. in various townships much of it through SEOLA and in about 15 months the three year bonus payments are due on many of those leases.
All of your choices are good possibilities for Eclipse. An overriding factor is Eclipse's president is under forty years of age and perhaps he still thinks he can have it all. He as well as Encap (his money source) needs to realize landowners of SE Ohio can become very stubborn, especially when they see other landowners being treated somewhat fairly.
ha ha, yes the landowners are learning. During one of the Q2 or Q3 presentations by one of the oil companies, the CEO said that their lease acquisition costs had gone through the roof in Ohio because the landowners were getting smart. boo hoo. I agree with your view that Hulburt just might do an IPO and go for it (I'll buy some). He's already got more money than he will ever need, so what's the meaning of a few more millions?...ya gotta have something to do during the day, so you may as well run a billion dollar oil company and hang out with the big guys?
I like how you talk!...lol I sometimes think Eclipse has exhausted all they're resources!
And now looking for an easy way out.?
Just went back though my email and found this from Eclipse! Maybe I have been attacking the wrong O&G..lol just kidding but Antero what is your schedule my time is running out!
Thank you for choosing Eclipse Resources. As far as a drilling schedule goes in Beaver township, we have entered into an agreement with Antero resources in that area. As part of that agreement, Antero is operator in that township and is in charge of the drilling schedule. I am sure they will notify you when your property will be included in a unit.
Please keep in mind that Eclipse, Antero, and most horizontal E & P companies have invested hundreds of millions of dollars in lease acquisitions and it is in our best interest to drill them as soon as possible to begin to see returns on our investments. I am sure Antero is working as quickly as possible to develop the minerals in your area.
Eclipse Resources I, L.P.
301 Science Park Road, Suite 308
State College, PA 16803
Congratulations Mr. McLaughlin! Antero has demonstrated they know what they are doing in the drilling department already. REX has shown what's to be had in Beaver Township, Gulfport has demonstrated what's to the north and Antero has demonstrated what's to the south. It won't be long. Thanks for posting your letter.
This is Steve Madsen, I was project Manager for all Utica/Marcellus mineral Interest in OH/WV/PA for RiverLand Properties, LP in 2012-13. I am no longer w/ RiverLand, however I am still in the game, & work for myself, under the business name Madsen Energy Development, LLC .
I work w/ most mineral acquisition companies, & put landowner's properties on what I like to call my MINERAL-WIRE. The purpose of course is to generate the most capitol possible for my clients. So far, I have closed on several deals, & plan on closing on many more.
I enjoy representing my fellow Ohio Landowners, & try to find them the best deal for a sale of there O&G rights. If anyone is interested in my services, please give me a call on my cell at (330)565-9526.
"Let the bidding war begin"