Yes it is true. First stakes are in the ground. No permit listed on the current ODNR website.
We were told pad in May, drill June-July, frac there after, and production by December.
Letters were already mailed out about water testing but none have been conducted yet that I know of.
Just talked to our Chesapake Rep.
We have not received a new pooling unit contract. How do you know the old PU was 321 acres?
Guessing on the royalty amount per acre we have been led to believe it could be $300.00 per acre per month at 12.5%. This is figured on a "GOOD" well. Let's all hope it hits.
There is no rule of thumb as to how big an "Oil Pool" is. It all depends on the surrounding land mineral leases and what the ODNR will permit. If all the neighbors leases are held by the same drilling company and the ODNR issues the permit then it could be 1280 acres or less if leases and ODNR dictates this. Permit and lease holdings will also dictate how many horizontal legs will be drilled from any pad and in what direction.
We will be contacted as soon as our Chesapake Rep. knows for SURE what the FACTS are. Hope this helps and I am optimistic that everyone with a "TOE" in this pad's pool gets some "BIG $$$$$$".
Here is a great PDF about drilling
Denver... If you recall I am a part of the 321 acre unit known as the Gallentine unit. I was approached by CHK last week and did sign a ratification agreement for our lease and was advised that we would be a part of the new drilling unit, to be drilled in July. I, too though, have not seen an issued permit. Have you yet been approached? Have you heard anything about the well drilled to the east from us? I believe the name is Ott. If you have any information would you please call me at 330-904-3026. ( name is Joe)
Below is a link from Chesapeake all about the different aspects of shale horizontal drilling. Check it out it's pretty good.
Clay Road is now spray painted every 1/4 mile from State Route 171 to Halo Road with RAM 1, then RAM 2 and so on.....I believe this is the first step in blacktop paving for the upcoming pad.
Also we have been contacted by an independent water testing company out Cleveland Ohio to come test our well water on May 15th.
No well permit yet on the ODNR web site.....but will check on their next update at this web site:
then click on:
Recent* Utica Shale - Weekly Permitting Activity
(for week of 4/29/2012)
New ODNR report out. Three new permits but not ours. Bummer !!!!!!!!!!!!!!