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Permalink Reply by george m vietze on May 24, 2013 at 12:53pm

Adameck#1 was the first deep well 7200' that just completed drilling in Greenfield Township not very far from Corry.  Results are not yet pubic.  Go to www.bounty-minerals.com and click on Pennsylvania and you will see that they are not buying mineral rights in Erie County.  I own land just 4.5 miles from Adameck#1-270 acres.  Eventually they will get to Erie County but the Point Pleasant/Utica right now is getting the play.

The results of the Adameck#1 well are not public yet but they are actively leasing more land in that area.

How to assess that is a guess they are not paying upfront money just offering 14% royalties but at least they spent a lot of money and are wildcatting for oil, I have information they hit gas but I hear nothing solid about oil.  They are pioneers in Erie County and I for one welcome their participation and wish them the best.

There testing was done by Weatherford.  Have patients.

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Permalink Reply by Jed Clampett on May 30, 2013 at 2:52pm

About 1 year ago Rexx was offering $1,500 per acre and 15% in western Warren county.  They were looking to pick up bargains and fill in holes where they already have a lot of land held by production (shallow wells).  Nothing going on lately.  I think most are waiting for 3,000 to 5,000/acre and 18-20% royalties.  Rexx is focused on Ohio right now, they are in no hurry to get more up here.  Just wait it out, keep up to date with this site. Join a few of the county groups to hear what is going on around you.

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Permalink Reply by William Vernon Crosby on May 31, 2013 at 1:43am

Thanks for the information and advice Jed.  It is much appreciated.

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