Rex Tillerson of Exxon and a brief statement about XTO

http://breakingenergy.com/2013/05/30/timing-was-off-for-xto-deal-sa...

Nothing specific or short term, but the fact that Exxon is in for the long haul.

Tillerson noted that the XTO deal was predicated on a 30-40 year outlook that sees natural gas growing in importance as part of the global energy mix. The company’sOutlook for Energy: A View to 2040 envisages global demand for gas will grow by 65% between 2010 and 2040, and overtake coal as the world’s second-most widely used source of energy.

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Permalink Reply by searcherone on June 2, 2013 at 3:40pm

Its looking like HBP means: just the acres the depth of the well holds and not beyond.  I didn't look at the ODNR well locator map to see how many shallow wells were on the entire pad, but I was aware of one on that site.  Also interesting that it was named the Beck B well.--wonder if there was a Beck A?

Permalink Reply by The Hiker on June 3, 2013 at 12:48am

Recorded in the Noble County courthouse is evidence of the assignment and sale of ~4000 acres of HBP Beck leases to XTO in Dec of 2011.   Elk, Jefferson and Marion Townships. 

Permalink Reply by John OBrien, landowner advocate on June 3, 2013 at 1:49am

Hiker, "4000 acres of HBP Beck leases to XTO in Dec of 2011"  

There were 22K+ just such acres in MC.

Chances are, if they were undrilled that all that acreage is tied up in the class action suit against Beck.  Even if it is not included due to the fact that it is in a different county, if and when Beck loses his final appeal, they (the landowners) would have precedence to sue and win back all rights.

Permalink Reply by Joseph-Ohio on June 3, 2013 at 2:21am

All it would take is time and money.

Permalink Reply by The Hiker on June 3, 2013 at 11:07am

It's my belief that the Noble County Beck leases are all (thought to be) HBP from language inside the familar one page Beck lease.    Those in the immediate area that I know follow the same story of a 20 acre Berea well "holding" the entire farm.  I'm sure the rest are of the same general pattern:  One well/one farm.

Wasn't there a general meeting held at one point in Caldwell aimed at forming a group to fight this fight?   I've heard references to it locally, but don't know details, progress, etc...

Permalink Reply by John OBrien, landowner advocate on June 3, 2013 at 3:21pm

Anyone who does not fight Beck Energy is, well, how do I say this with respect, CRAZY!  Beck Energy is on it's heals, reeling from the class action suit.  One well, one farm, for how long, and at what kind of production?  Is the well making money?  Is it insured?  Do you know the production numbers?  Anyone who is "HBP" by Beck should be doing all they can to find the answers to these and many more questions. Beck is beatable period.  Look for the flaw in the lease.  Look for the flaw in HBP.  Look for violations of ODNR well regulations.  Do not let up.  Check the lease for perpetuity clauses.  If found, you have a great case.  How old is the lease, how long has the well been producing, how many acres being held by one well?  Dig man dig.

Permalink Reply by searcherone on June 3, 2013 at 11:20am

Hiker, I was unaware Beck Energy had leased acreage in Noble County.  XTO's slide does not include Noble.  Thanks for the info.

 

Permalink Reply by The Hiker on June 3, 2013 at 1:18pm

This is the last page that lists the landowners, acreage, etc...from documents similar to those Bob posted for Monroe County.  No idea why this acreage fell through the cracks in the media.   Another document gives Beck an overriding royalty on all these acres ....."equal to the positive difference, if any, between eighteen and three quarter percent (18.75%) and all royalty, overriding royalty, production payments, and other burdens which encumber the leases as of the Effective Time of this Assignment".  this sounds like Beck will cream off ~6.25% for himself if I read this correctly.  Not bad.

Just tonight I heard that Antero has begun negotiations with some of the landowners.

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Permalink Reply by John OBrien, landowner advocate on June 3, 2013 at 3:32pm

Bob, Beck has no chance of negotiating with any of the landowners since he did what he did to them.  XTO is probably still interested true enough.  But why do you feel Antero wouldn't want this fought over acreage?  This is exactly what I have been trying to tell people.  The landowners are going to be in the drivers seat!  The numbers are out, the land is valuable to lease, I wouldn't be surprised to find many big players talking to these landowners and bidding against each other for the leases!   

Permalink Reply by John OBrien, landowner advocate on June 3, 2013 at 3:40pm

Guys this whole thing looks exactly like the Monroe County case.  I'm not sure but wouldn't all this be covered by the Hupp class action.  If he can't get away with it in MC then it goes against him everywhere in the state right?

Permalink Reply by searcherone on June 4, 2013 at 1:57am

Ah, I see so perhaps Antero traded some of their acreage to XTO and those landowners will be on hold since XTO apparently is spooked enough not to be drilling until their Beck Energy debacle is resolved.  Guess if I had an Antero lease in that area I would be looking to see if it had been traded to XTO.

It would be nasty enough to have one of these leases from the beginning, but if you as a landowner were traded into the debacle, disgusting.

Permalink Reply by John OBrien, landowner advocate on June 4, 2013 at 12:34pm

Bob, " the Noble acres were likely part"

I don't think so.  I have all the landowners and their leased dates by Beck in MC and it adds up to 88M by itself.  I got the information by going to the MC courthouse and copying it myself so I know it is legit.  So if there is land in Noble it adds up to a lot more than the existing case.  Like I said before Beck has leases throughout eastern Ohio.  What I don't know is if all of Ohio will be covered by the class action.  Since the suit was filed in MC there may have to be one filed for each county he did this in.  Maybe a law man could answer this question.  Something tells me Beck knew he was out of order when he signed folks into the leases with the perpetuity clauses.  He may have thought MC was the only place he could get away scott free with this attempt.

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