Lease Offers in Harrison County

Updated November 8, 2011

This webpage is a little over a year old. During this time frame oil and gas leasing
offers have increased significantly.

As of November 8, 2011 the signing bonus has increased to $5350-$5800 with the royalty percentage at 20 % gross. Leases are being signed by several companies. The best lease terms are being realized by the landowner groups that offer their acreage through a competitive bidding process. I personally believe the money offers will continue to increase with time. The highest offers occur when landowners pool their land into contiguous units.

Presumably, all are aware that Chesapeake recently leveraged 25% of their leaseholds in

Eastern Ohio for $15,000 per acre by forming a JV with an undisclosed oil major.

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Replies to This Discussion

Permalink Reply by scott jackovitch on April 23, 2011 at 8:23am
I hope that is the case also. Could the tanks have been used during the fracking of the well for frack fluid and water storage ??  What is going on in the area with the leasing ? Me and some neighbors have been approached from CHK about leasing our property on Tappan. Are all the landowner groups finalized ?
Permalink Reply by Hunter on April 24, 2011 at 5:40am

There is an article out today that mentions what I believe to be about buell well.

 

"Take the example of what may be the most productive well in Ohio history. State Sen. Jimmy Stewart, R-Albany, said he heard a rural Harrison County well was pumping 15 million cubic feet of gas daily.

A spokeswoman for Chesapeake Energy, the Oklahoma-based owner, said the well in question is still being evaluated, and he couldn't confirm the numbers."

 

The link to article is http://www.thenews-messenger.com/article/20110423/NEWS01/104230305/...

 

 

Permalink Reply by scott jackovitch on April 24, 2011 at 6:31am
I agree that would have to be the Buell well.  That sure is good news !!
Permalink Reply by william on April 26, 2011 at 3:27am
Does this news mean the lease amounts will increase? I heard the going rate in Harrison county is $2000/acre with a %15 royalty.
Permalink Reply by FXEF on April 24, 2011 at 10:42am

scott,

The tank battery you described will be used to store produced salt water (waste) and possibly condensate or oil, if produced. I don't know what formation the well is producing from, but Marcellus wells usually don't produce much condensate or oil, so it will most likely be waste salt water.

1s7k1qp9wk1t7Permalink Reply by 1s7k1qp9wk1t7 on April 25, 2011 at 11:12am
it's a Utica well
Permalink Reply by Al Cramblett on April 25, 2011 at 5:37am
I have received a report that Gulfport signed 61 leases the beginniung of April in Rumley Township with a $2350 signing bonus and 16% royalty.
Permalink Reply by Buckeye Fan on April 25, 2011 at 8:05am

Al,

Do you have any contact information for Gulfport? Our farm is in Stock Township, but I would like to talk to them, if possible. It would be good to have competition in the area.

Thank you,

Permalink Reply by Finnbear on April 25, 2011 at 10:41am
I'd like to talk to them also. I'm working on a group of properties that I'd like to see if they have any interest in.
Permalink Reply by Al Cramblett on April 25, 2011 at 12:35pm
I don't know who brokered the deal.  If I wanted to deal with Gulfport, I'd go through Wishgard:  855-947-4427.  Good luck.
Permalink Reply by Nate on April 25, 2011 at 3:32pm
Sierra Resources is also leasing areas around blocks of HBP they have acquired from Ohio Producers. Harrison, Carroll, Tusc, and Stark for certain.
Permalink Reply by scott jackovitch on April 25, 2011 at 1:24pm
Are there any landowner groups in Stock township ? My neighbors and I are interested in joining a group.

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