Is anything going on in Londonderry? Haven't heard any updates recently. With the increase of oil and gas prices I thought maybe there was some increase in activity or rumors of it. Did the Donna well get fracked? Has there been any pipeline activity? Thanks!!!
The man from Purple Land management keeps calling, since Feburary, and presenting the same low ball offer for Ascent ($500.00 an acre).
My brother responds with the same answer--- no thank you.
He calls several times a month so Ascent must still be interested in our minerals.
Our lease is up in 3 months, so, either Ascent will cave in and renew our original lease or we will be released from them.
Time will tell.
Hopefully another o/g company will pick us up, with a decent offer, if Ascent doesn't cooperate.
Anyone else with Ascent heard anything?
Well, that's all I have to share.
Nothing is happening, end of story.......... Oil will have to go up to at least S60.00, and stay there, for drilling to be profitable. I heard a rumor that the Saudi's are going to turn down the spout, but who can trust their word? Don't sell your minerals, hold them like a saving account. They aren't worth anything now anyway. This bust hit everyone unawares, including the oil companies. Figure the boom will come again, in 5 years or so. So just tuck those minerals rights away, and don't spend money you don't have. I've spoken to several people who are getting royalties, and they all say they are getting about a fifth of their original checks. Nothing we can do, except live our lives like we use to. Actually, it's kind of nice not having all the truck traffic and no garbage along the roads.........
See on the ODNR website under county engineer's report the Betts 2H,4H,and 6H were listed on July 29,2016. Hope this is an indication of others to follow.
Ascent just pulled 3 permits for the BETTS wells in Londonderry Twp.
Thanks for the information.