Replies to This Discussion

Permalink Reply by Adam Galbreath on July 20, 2015 at 5:13am

Hi Vicki,  I too have land in Madison Twp/Guernsey County off of Brush Fork Road.   I'm wondering the same thing - are they ever going to drill.   My lease expires in about 14 months and would have no problem renewing the lease and collecting another check but I too would like to know what's going on.  I don't live on the property so I can only ask this forum like you have.

Can anyone provide some creditable insight into what's going on in Madison Twp?

Permalink Reply by Vicki Mellon on July 20, 2015 at 8:35am

Still waiting on any one who can help on Madison township information. Thanks

Permalink Reply by lance on July 22, 2015 at 1:16pm

I have a lease with AEU that expires in about 14 months too. Originally with Shell we signed for 5000.00 an acre and 20% royalties In Oct. 2011. I think that as long as oil prices stay low it will hamper most of the drillers to do anything but from what I understand, AEU will not want to give up any of the acreage they have leased in the Utica. So, we still have hope that they will renew our leases when that time comes to avoid someone else capitalizing it. But as far as drilling and unitizing us in Wills and Madison townships it depends on the investors and are they willing to drill when prices are low. Now, with the prospect of Iran flooding the market with Islamic oil as the sanctions are lifted, due to our beloved POTUS Obama nuclear deal with people who hate us and want all of us dead the price of oil will drop even farther. If we lift the export restrictions that are in place so we can sell more of our oil and gas over seas to Europe and other countries it may be more profitable to drill.... I guess?   :)...  

Permalink Reply by thomas p st clair on January 6, 2016 at 8:08am

My nephew had 140 acres leased to Gulfport. His lease ran out at the end of december and they did not renew.

Permalink Reply by lance on January 6, 2016 at 10:26am

Don't give up hope... When Oil prices go back up and they will... It will start the ball rolling all over again. What county/ township is the 140 acres in?

Permalink Reply by thomas p st clair on January 7, 2016 at 2:00am

Guernsey Co. Madison township

Permalink Reply by lance on January 7, 2016 at 2:53am

Ok if they did not renew, tell them you want a 'release' of the lease  agreement filed in the court house immediately... That will set you free from that agreement and then you can negotiate another lease with a different company. Get a 'release' as soon as possible.... If, or I should say when a war breaks out in the Mid-East the price of oil will sky rocket and drilling around here will pick back up.... Keep an eye on Iran and Saudi Arabia.... They hate each other.. :)