Replies to This Discussion

Permalink Reply by Dan on June 2, 2012 at 12:30am

Little information out there on this company. Looks like it has been around for a little over a year.            

More than likely they will be  partners with drillers and not doing any drilling themselves. 

Permalink Reply by Mike T. on June 4, 2012 at 8:48am

I hear that BlackRidge is holding meetings at the old Colebrook Elementary school on Wed. Anybody else hear anything?

Permalink Reply by Ed Ganelli on June 4, 2012 at 3:59pm

From what I've been told, this isn't supposed to be an informational meeting but only a sign-up for landowners in the targeted area...

Permalink Reply by Lou is on June 5, 2012 at 2:58am

Yes, sorry my mistake, It is mostly for prople in the Magyar group, but its ok to stop in and get a business card.  Sounds like it is going to be very hectic - 40 to 50 people have to sign.

 

Permalink Reply by Joseph-Ohio on June 5, 2012 at 8:41am

What time is the meeting on Wednesday ?

Permalink Reply by Ed Ganelli on June 5, 2012 at 12:16pm

Noon to 8...

Permalink Reply by Joseph-Ohio on June 5, 2012 at 1:24pm

Thanks Ed.

Also, I actually spoke to a landman from BlackRidge.

He confirms that it's going to be pretty hectic just signing people up and if I and my wife had questions outside of signing up that it would be best to go to their next meeting. Our ground being about 4 or 5 miles north of 6 and outside the current BlackRidge targeted area.

He also said that he thought it was probable that they would (in the future) continue their leasing endeavor north of 6 - just not right now.

Wondering if they're going to try and buy any of those Chesapeake Leaseholds now being offered - did you hear anything on that score ?

Seems to me if they do they'll be paying them a pretty penny - probably at least 3 times what they would pay any landowner or landowner group.

What are your thoughts ?

Permalink Reply by Lou is on June 6, 2012 at 3:38am

No idea. They will probably be buying Wishguard leases, though.

 

Permalink Reply by Millard B. Fillmore on September 21, 2012 at 5:44am

How about some contact info on this BlackRidge co.?

I contacted the one I found on Google, and they aren't doing anything in Ohio. South Dakota and Montana only...

Permalink Reply by Brad on September 21, 2012 at 7:47am

Milliard,

I was very close to signing a Black Ridge lease this past late spring when they signed around 10,000 acres in Colebrook and Wayne Townships.  The only problem was that I was 1/2 mile west of the Colebrook/Orwell township line.  My property was not in their target zone.  Several individuals informed me that Black Ridge had intentions of expanding a little further west within a month or two, after they wrapped up the initial 10,000 acres.  As I waited to hear from Black Ridge  I weighed out the various options.  These options really only included two worthwhile choices in my opinion..... and in my circumstance.  Black Ridge being the one and Buckeye Mineral being the other.  The Black Ridge offer of $4,250/acre, 18% and a decent lease was very appealing I must admit.  Had Black Ridge called I probably would have signed with them.  In hindsight, I am actually glad I never received the call from Black Ridge.  Since that time I have had extensive conversations with Steve Rea of Buckeye Mineral and feel very confident that they will be able to negotiate a better lease than the Black Ridge lease.  In my opinion, their ability to negotiate on behalf of landowners(which they've proven multiple times) is well worth a 2 3/4% signing bonus commission.  I believe Buckeye currently has around 30,000 acres in Ashtabula and they're targeting around 100,000 acres by spring.  I've been told that there isn't a huge amount of interest in Ashtabula yet, but once some production results come out from wells in Trumbull things should drastically improve.  Obviously the seismic testing is a good sign and will help as well.  I know every individual has different financial circumstances, but if you can afford to be patient I think it will ultimately pay off.  The key is spreading the word to your neighbors, unifying,  and having as many contiguous land tracts as possible. Best of luck.     

Permalink Reply by Curtis on October 15, 2012 at 7:39am

Would you have their contact info by any chance so i can call them?

Thanks,

 Curt

Permalink Reply by Brad on October 16, 2012 at 2:29am

Curtis,

You can contact Buckeye Mineral at (330)286-3930 or (330)286-3931.  You can e-mail them at Buckeyeshale@gmail.com.  They will probably mail you one of their Ashtabula County Acreage forms to fill out, unless you decide to drive to their office to fill out the information they need.  Their address is 7600 W. South Range Rd., Salem, OH 44460.  It might be best to meet them in person, so that you can better assess their ability to work on your behalf.

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