Comment

Comment by JREwing on January 26, 2014 at 3:07am

Chess property is located SE corner of intersection of Airport and District roads. 218.31 acres X $1,750.00/acre for all O&G rights = $382,042.50. Property is HBP by Vista/Swepi at 12.5%. This parcel is 2.2 miles NNE of Swepi Palmer well. It'd be a cold day in hell before I'd sell for that. Wow.

Comment by JohnL on January 26, 2014 at 2:15am

WTF- we are HBP by a small company in Wooster OH called Cedar Valley Energy. They drilled a shallow well on the edge of our property about 12 years ago. I was told 3 years ago that they were planning on pulling our well but they never did. Now I know why. They reassigned our deep rights to Hilcorp 2 years ago and assigned themselves the overriding royalties (the difference between what Hilcorp offered and our 12.5%). I was never notified by Cedar Valley. Our attorney says this is common for small producers to do. We're 2.5 miles from the end of the Pennant Midstream/Hilcorp Montgomery facility, so I'm hoping we are included in a drilling unit some day.

Comment by WTF on January 25, 2014 at 2:16pm

John, If you don't mind me asking, who had the O&G rights for your ground before they were reassigned? You may already know this but the flame at the Palmer well is now out. I think they do not have a pipeline to connect up with. That should come in the near future. Shell also has the Shannon site ready to drill for over a year now. I wonder what is the holdup on that site. 

Comment by Samuel J. Orr on January 25, 2014 at 1:09pm

JohnL: Thanks for all the great information. Although it is difficult to be patient, I am going to remain patient. Much appreciate the information about the Mercer County of Deeds Office.

Comment by JohnL on January 25, 2014 at 8:38am

WTF- sounds like I need to take another ride around, but what you're saying makes sense.

Sam- you can check the Mercer County Recorder of Deeds website and sign in as a guest and just browse around for free. For a small fee you can look up and print out records from home. I did that when I found out my O&G rights were reassigned to Hilcorp.

It was interesting to look up Bounty Minerals to see who has sold their rights. It was only the O&G rights that were sold on the Chess farm. Bounty also purchased the O&G rights to the Colpetzer farm for $482,000 for what I think is around 110 acres, so you're looking at around $4,000/acre. What's also interesting is that Halcon holds the right to purchase the Colpetzer farm. You know companies like Bounty have to know what's going on. I figure if it's worth that much to them it has to be worth a lot more to me. Sounds like Bounty got a real bargain on the rights to the Chess farm if it's that close to the Palmer well. From what I heard the flare on that well was pretty impressive.

Comment by Samuel J. Orr on January 25, 2014 at 7:54am

It would be nice to know how many acres of mineral rights were purchased from the Chess Farm and whether it was a 100% interest or something less? I am too far away to make a visit to the Mercer County Courthouse but the information should be easily obtained by visiting the Recorder of Deeds Office at the Mercer County Courthouse.

Comment by WTF on January 25, 2014 at 7:38am

John, I think it is most likely heading to the Steister Road Hickory Bend project. The construction we seen is running parallel to the TGP lines. I understand that line (35 miles) will be completed by May 15th. They must complete all trout stream crossings prior to March 15 and all wetland crossings prior to another fixed date. The construction will need to kick it into high gear to make that date. I noticed in the deeds recorded section of the Sharon Herald last week that Bounty Minerals purchased property in Fairview Township for $382,000 from the Chess farm located on the airport road. My guess is they purchased gas and oil rights only and possibly only part of those rights. This property is not far from the Palmer well and the purchase was made very close to the time the Palmer well was fractured. Possibly some inside info!! Bounty Minerals has dropped a ton of money in the Utica area purchasing gas and oil rights. 

Comment by JohnL on January 24, 2014 at 12:36pm

WTF- any idea where that pipeline is headed? Is Hilcorp tying their Shenango Twp wells into TGT lines?

JohnL

Comment by JREwing on January 24, 2014 at 9:54am

WTF, the new temp water line likely just came from the Swepi Palmer well.  Keystone Clearwater Solutions just finished picking up and hauling away the last pieces of it from Lake Latonka last weekend.  Amazing how they "weld" the pieces together in the field and then just cut it apart again to haul it away only to do it all over again somewhere else. 

Comment by WTF on January 24, 2014 at 9:34am

New pipeline construction underway , turn south on South Charleston road from Rt. 318 and it crosses the road about 3 or 4 miles from Rt. 318. Also a new temp. water line crossing Seidle Road at the old Seidle sand and gravel plant and it looks like it starts at the old Taylor sand and gravel plant that has reopened for the last couple of years. They have a large pond back behind the plant for washing gravel. My guess is that they will run the water line over to the Jefferson/McGhee well. A lot of activity in Mercer county for as bad as the weather has been. 

• ‹ Previous
• 1
• …
• 50
• 51
• 52
• 53
• 54
• …
• 93
• Next ›
• Page