Updated November 8, 2011
This webpage is a little over a year old. During this time frame oil and gas leasing
offers have increased significantly.
As of November 8, 2011 the signing bonus has increased to $5350-$5800 with the royalty percentage at 20 % gross. Leases are being signed by several companies. The best lease terms are being realized by the landowner groups that offer their acreage through a competitive bidding process. I personally believe the money offers will continue to increase with time. The highest offers occur when landowners pool their land into contiguous units.
Presumably, all are aware that Chesapeake recently leveraged 25% of their leaseholds in
Eastern Ohio for $15,000 per acre by forming a JV with an undisclosed oil major.
Tags:
That is a Chesapeake well. The plat and the application papers are not on the ODNR website yet. Chesapeake is notorious for stalling on their filings with the state. You might call Columbus and ask why those documents are not available yet. They should be.
http://www.dnr.state.oh.us/mineral/database/tabid/17730/Default.aspx
Mark, do you mean that PDF of the Buell Well drilling unit? I believe I had to ask for it at ODNR. All the permit-related documents are available to the public. They try to scan them all and bundle them up into a TIFF format file, and post it on the online database for that particular permit, but sometimes when you open up that TIFF file you find a blank page where the platt map should be and a note that says, "Oversize Drawing" and something about having to come into the office to get a copy. I think that was the case for this one, so they emailed it to me. The same thing happened with the Jewett-Sportsmans Well. If you are interested, I've attached that one below.
thanks Dan and Finnbear,
I am still trying to figure out how to navigate the ODNR database. This info will be helpful.
Mark, for you or anyone else who wants to navigate the ODNR well permitting database, here's how I was taught by the staff at ODNR:
Thats the basics. Use Permit and Plug List to find the permit you are interested in, then copy the API Well Number and go into the Completions list and see what documents or maps they may have uploaded for that permit.
the one on hanover ridge in archer township past the old coal shovel
The ODNR keeps the public record of all permits granted here. It shows that there have been no new permits approved in Harrison County since back in December when Chesapeake re-permitted the Buell Well as a horizontal unit.
In order to file for a permit they have to have their drilling unit put together though, so I would imagine that there is a good bit of puzzle-piecing going on right now about how to piece together the next units.
James Harber posted this on 11/30/2010
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