Comment

Comment by scott jackovitch on January 14, 2011 at 10:25am

That is the way I am seeing it .  I confirmed the credibility of the drilling company rep. Anyone have any more info on this situation ?

Comment by Dennis on January 14, 2011 at 10:14am

That would mean that the broker is making $600/ acre correct? The value to Chspk is $2100

Comment by scott jackovitch on January 14, 2011 at 10:00am

 I had an interesting conversation with a represenative from a drilling company in northeast ohio.  We talked about the shale play going on in Harrison County. It was his belief that the market value for our minerals is at  $2100/acre and 15% royalty.  Are any of you hearing the same ? 

Comment by Dan on January 14, 2011 at 3:00am

Clyde I also just found out that on the Buell Well they are down to 8700 feet, which means they are finally into the Utica, and only have a few hundred more feet to drill before bottoming out at the depth for their first permit.  Then they have to pull the whole bit all the way out so they can plug the well back up into the Utica somewhere, and then put a directional head with telemetry on the bit and send it back down so they can start drilling horizontal.

Comment by clyde vanhoose on January 14, 2011 at 2:55am

Dan Maybe what they are cutting in is for the pieline. It is going to the west. 

Comment by Dan on January 14, 2011 at 2:50am

Wishguard had signups at the Scio Fire Hall last night.  They are signing for Tri-Star, a lease-holding company.  I went down there to see what they were offering.  It is $2000/acre deal with Tri-Star, and then Wishguard gets 3.4% off that.  Royalty is 15.5% on gross.  Addendums are some of the best I have seen, including horizontal AND vertical Pugh clause.  All-in-all, the best deal I've seen, with one caveat:  they are a broker.  With payment to come in 90 days, there is the risk that they may decide not to pay, in which case the lease is void.  There is also the wondering, if they do pay, as to who they will sell the lease to and when any drilling would ever happen.

They say that have around 45000 acres put together for Tri-Star, and they are closing this group by the weekend. so this is the last day or so to get in.

Comment by Dan on January 14, 2011 at 2:30am

Clyde, I wonder why they would be cutting in an additional road, when they already had a wide, graveled road going in there?  Latest things I know about the well have already been posted, which is that the are now permitted to go horizontal into the Utica with a drilling unit that runs roughly SE from the site.  This still needs to be verified for accuracy, but pipeline right-of-way is being secured to connect the well to a transmission line that is about 3 miles to the west, becasue they want to be in production by March.

Comment by clyde vanhoose on January 14, 2011 at 12:05am

Hi Is there any new news on the the Buel well? I can see it from my land. I drove by it and they are cutting in a new road to the site.

Comment by Josh on January 13, 2011 at 4:38pm

James: I have verbal confirmation from my neighbor, that he has received his 1500 dollar an acre money and it cleared!  I know you mentioned you wanted to know if and when anyone had received it.

Comment by scott jackovitch on January 12, 2011 at 1:34pm

Dan,  That is really good news about the LP fracking.   After watching the documentary " Gasland " it's good to see the industry might be headed in a new direction.  It would be nice if the LP  fracking made it here to Harrison County.

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