XTO bought out by AEP in Monroe county ohio

Anyone know if there is any validity to the rhumor that AEP bought out XTO's leases in Monroe county ?

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Permalink Reply by searcherone on September 21, 2014 at 1:59pm

No I haven't heard this rumor.   Is it property owners with leases repeating it or others?   XTO bought Beck Energy leases and that court case is still on going, so if AEP bought these IMHO AEP is a long way from owning these as this case drags on.  XTO does have some leases in Monroe that weren't with the Beck Energy deal.

Permalink Reply by TG on September 22, 2014 at 2:31pm
Searcherone, I have a question a little off target,but still dealing with Beck and XTO. We are in Center Township, Woodsfield area on 54 acres and literally surrounded by by Becks shallow wells that he threw up to lock the Landowners into their leases. We signed with Gulfport, were do you think that leaves us? You always have insightful info! Thanks
Permalink Reply by searcherone on September 22, 2014 at 3:02pm

TG, thanks for the confidence in my  humble opinions, but sometimes they are just that opinions.

With your 54 acres if Beck/XTO prevails  in the court case Gulfport's acreage would probably be included in a n XTO drilling unit.   If Beck/XTO continues to lose the court case then Gulfport probably tries to lease your neighbors and drill a well.  You personally at the moment need lots of patience to wait on the court case which you aren't involved with, but affects when your property will get drilled.   lol nothing in Monroe ever happens quickly anyway!  Enjoy the lease money from Gulfport while you wait on the court's decision regarding Beck/XTO

Permalink Reply by TG on September 22, 2014 at 3:12pm
Thanks for your reply!!!! I figured the same. I was hoping for a different angle!
Permalink Reply by Hunter 1 on September 23, 2014 at 12:12am
The source of the rhumor said that XTO and aep are working closely together , don't know exactly what that means ...
Permalink Reply by searcherone on September 23, 2014 at 1:23am

So does that mean AEP bought Beck/XTO leases?     And within the last couple of months XTO donated 15K to Monroe county for some type of emergency vehicle.  The companies start spreading the money around when they want something.    And do you know anything about XTO working on constructing a pipeline?

Permalink Reply by Jarrad Stephens on September 23, 2014 at 2:01am

Jay,

Did you here that Gulfport acquired some leases from XTO? Any insight would be helpful. Also Aubrey Mclendon's group purchased a bunch of land from XTO for the exclusive right to develop and also acquire some of the land for future developments. Interesting to say the least, I have yet to here anything about Gulfport being tied into this. Thanks!

Permalink Reply by jerry lee nichols on September 23, 2014 at 10:13am

Don't know if this helps but I own a 2300 ft deep oil well tanks and lease in center TWp,when I questioned Gulfport about this they replied that they were only leasing Marcellus and Utica layers so I could not hold up their leases but in writing they made no claim to shallow wells of that depth.

Permalink Reply by RAYMOND bAUMAN on September 25, 2014 at 2:41pm

It depend on how your lease  and or assignment of lease was written.. The assignor may have retained the deep rights or just sold you the shallow lease and rights. also  you need to get and understand your assignment of all or part of the lease you may have received only 20 acres in the shallow  rights but may have more acreage..  See an attorney

Permalink Reply by Renee E. Dorsey on September 23, 2014 at 7:23am
Permalink Reply by TG on September 23, 2014 at 2:45pm
Would someone want to buy any of Beck/XTO leases since they are in litigation? Wouldn't Aep be picking up a headache? I IMHO I don't think anything will happen with Beck/XTO until complaints are settled! With my no experience in this kind of Crazyness!!! But, I was down by our property and someone ran stakes along rte358. Stakes ran past our property and kept going from one side of road to the other.
Permalink Reply by cj wyalusing on September 23, 2014 at 3:32pm

I don't think it would matter if aep purchased it

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