Why does Northwood Energy do lease contracts for Statoil?

  I was contacted by northwood on behalf of Statoil. the lease has Northwood on it , not Statoil. What is the advantage for doing this ?

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Permalink Reply by SLB MONROE on May 29, 2013 at 12:34am

But why is Northwood still signing leases?

Permalink Reply by searcherone on May 29, 2013 at 12:34am

Are you near Monroe Co. Ohio Twp.?  Rumor is a new well is going in there which would be Statoil territory, somewhere on Long Ridge the rumor mill says.

Permalink Reply by SLB MONROE on May 29, 2013 at 3:11am

Green Twp...  looked to me like they have nearly all Ohio twp. and some in Lee, Salem, and Green

Permalink Reply by searcherone on May 29, 2013 at 4:18pm

Magnum Hunter/Triad has some good acreage in Ohio Twp.;   take your time with lease; the addendum is the important part that is where your protections are;  curious that Statoil continues to use Northwood to lease;  unfortunately Northwood's leases have never had a good reputation/favorable to the landowner.  IMHO the less pages the lease, the landowner is not getting even adequate protection. Everything needs spelled out, no assumptions.

Permalink Reply by SLB MONROE on May 29, 2013 at 12:59am

Yes it is

Permalink Reply by william r rinehart on May 29, 2013 at 9:56pm

Nothwood Energy, is not a driller, although they hold many acres due to buying up old leases, they are a well refurbisher. We are currently HBP by them, now I am wondering if they sold us off to Staoil?

Permalink Reply by searcherone on May 30, 2013 at 10:36am

http://www.slideshare.net/MarcellusDN/slide-presentation-on-statoil...

William check this slide presentation; think it is page two; shows locations of where Statoil bought acreage.  In southern Ohio it is only Monroe County.

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