Comment

Comment by Dan on January 12, 2011 at 12:39pm

Have you guys read about using LP to frac?  It sounds too good to be true, but I guess it's already being done.  I wonder how you have to retool the frac crew to use this technology?

Frac with LP

I'm not quite ready to require LP-fracing only in my lease, but it may be the wave of the future.

 

Comment by Rod Dietrich on January 12, 2011 at 7:56am

Brad, Could you please e-mail me the lease form also, Thanks much.  Rod

e-mail is rad@dietrich.net

Comment by Peter Schueler on January 12, 2011 at 7:19am

Thanks Brad and Matt for the clarifications. Can you tell what Townships you are currently interested in? Also, can you put your standard lease out for us to see?

 

Comment by Cheryl on January 12, 2011 at 7:18am

We have confidence that Fossil Creek Energy is the real deal or we wouldn't have signed with them. We had higher offers from groups that were interested in brokering our land and we chose to pass. Most required 90 business days.    

The skepticism of landowners is totally understandable. This is a complicated industry to research and fully comprehend. But I believe we signed a solid, basically landowner-friendly lease with Fossil Creeek. Hopefully it will be mutually profitable.

Comment by Peter Schueler on January 12, 2011 at 6:12am

Maybe its just a coincidence but Fossil Creek Energy and Chesapeake Energy are both headquartered in Oklahoma City. This play gets more and more interesting with disappearing landmen, new players coming in and more confusion for landowners.

 

Comment by Peter Schueler on January 12, 2011 at 5:48am

Here's what I found on Fossil Creek

"

About Fossil Creek Energy Corp

Fossil Creek Energy Corp is a private company categorized under Oil and Gas Exploration and Development and located in Oklahoma City, OK. Our records show it was established in 1978 and incorporated in Oklahoma. Current estimates show this company has an annual revenue of less than $500,000 and employs a staff of approximately 1 to 4. "

see http://www.manta.com/c/mmj77v1/fossil-creek-energy-corp

Comment by Dan on January 12, 2011 at 5:08am

Cheryl, do you have more information on Fossil Creek.  Are you satisfied that they really are a driller/producer, and not wanting to broker your lease? Do you have any business stats on them?  Do they have a website? 

Comment by Cathy Galbraith on January 12, 2011 at 4:45am

I have a question about the long terms of a production well. It is my understanding that once a area keeps producing the lease is good almost forever. Has anyone considered a limit to how many years the lease is good for producing or not. Say 50years ?

Comment by Cheryl on January 12, 2011 at 4:35am

We've signed with Fossil Creek Energy and are due to be paid by the end of January. We're in Belmont County and have approx 84 acres. From what I understand, we are the first in the county to sign with Fossil Creek. We are due to receive a check before the end of January. Will definitely let everyone know when that happens (or if it doesn't)! 

Comment by Richard Clark on January 12, 2011 at 4:12am

What makes you suspect Fossil Creek is just another lease aquisition company.  Did you find something in your research that shows they are not a drilling company?

Most leases I have looked at seem to have a 120 day payment as a standard unnless the lessor request a shorter time.

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