$3900/ac & 17 1/2% next door; wonder what Geauga will end up with?

Just heard from a friend that the last big ALOV group in Trumbull went for $3900/ac and 17.5% (not gross, reportedly).  Went to BP apparently.  Wonder how that will affect the groups in Geauga.

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Permalink Reply by EBL on March 27, 2012 at 7:26am

The way I see it, they're currently interested in the wet gas area. From the maps I've seen, MOST of Geauga is in the oil area.  I'm not sure how true it is, but recently I read that the oil area is worth more per acre.  Any comments on this?

Permalink Reply by Susan Johnson on March 27, 2012 at 12:47am

By the number of Wishgard leases recorded in Ashtabula, there has to be some interest in Ashtabula County.  I still ask the question about ALOV - 3900 is great but does that mean everyone in the land group gets it or can the driller cherry pick which ones they will take?

Permalink Reply by Dan on March 27, 2012 at 10:48am

My understanding is it was to be bid as one group.   Ashtabula County probably will not be bid as one unit because of it's size and it has a ton of HBP acres.

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