Did Eclipse buy Fossil Creek Leases and did Sun O&G customers get contacted?

I am a Noble County landowner and new to the Noble County Group. Eclipse rep mentioned they bought out the Fossil Creek Leases in Seneca Lake area and are waiting for Sun O&G to expire to pursue new Eclipse lease contracts with those interested landowners.  Eclipse test well south of Seneca Lake would be done in October.  Has anyone heard similar information about Eclipse getting more aggressive with leases in Northern Noble County (Wayne & Beaver Twp)?  

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Replies to This Discussion

Permalink Reply by Private KeepOut on August 29, 2011 at 9:41pm
I haven't heard anything about Eclipse buying out the FCEC Leases and I'm surrounded by 700 acres that is leased to FCEC. IMO....anything you hear from Eclipse I'd take with a grain of salt.....they will tell you what you want to hear.....in order to get you to sign with them.
Permalink Reply by DPG on August 29, 2011 at 10:36pm

Hi TP

Are you in Noble and wondering if you signed yet or who you recommend? Heard the Sun leases will expire soon since nobody will take them and after they expire companies going after them such as Rex, Eclipse and more Texas companies coming. Your thoughts?  

 

Eclipse test well is on the Miley Farm which is South of your location. Do you know them?

 

Permalink Reply by Private KeepOut on August 30, 2011 at 8:34am

Yeah....The property I live on used to be part of Miley's Farm. DPG most of my neighbors have signed leases with FCEC and so far no one has mentioned their lease being bought up by Eclipse. 

I dealt with Eclipse for a couple of weeks....a lot of talking and warming me up...I wanted to weigh all my options and once I saw their lease that was it for me.....Unless their lease has changed in the last couple of weeks...I'd be very leary of signing with them.  I'm sticking with KWGD group and their landowner friendly lease.

Permalink Reply by DPG on August 30, 2011 at 9:01pm

Wow. The Miley Farm must have been fairly large.  The map I saw of Eclipse wells and their test well were closer to Sarahsville, so I wonder if the wells are South of you and your neighbors? I am not sure how big of a footprint Fossil Creek has or had South of the lake. 

 

It sounds like KWGD worked to get their Group 5 about $2,850 bonus and 17.5% royalty and Chesapeake paid lawyer fees.  Not bad, it seems similar to what other leases are offering, but without the extra lawyer interaction on royalties.  Eclipse also seemed fairly flexible with their amendments allowing some friendlier verbiage to be added.

 

I hope, but didn't think Chesapeake was drilling near Seneca Lake and would be curious to see who KWGD is negotiating with in this area to work a similar deal to get close to what they paid Group 5 and get their clients all hooked to active well sites.      

Permalink Reply by Robert Fulton on August 31, 2011 at 7:49am

TP I thought we were group 5.....lol you holding out on me?

Permalink Reply by Private KeepOut on August 31, 2011 at 9:15am
shhhh!.....you aren't suppose to know yet!!!! hehehe!
Permalink Reply by Private KeepOut on August 31, 2011 at 9:13am

Wow DPG, for just being new to this...you seem to know quite a bit about what's going on in this area.

First of all the Miley Family was large and spread out and own a lot of land around here. Secondly, group 5 has not signed a lease with any O&G Company yet...the bid package just went out this week and finally.....kwgd's lease puts Eclipse's lease to shame....you can't compare apples to oranges. lol

 

Oh, I also forgot to mention....my neighbor knows a person who is involved inbuilding the platform for FCEC south on 285 towards Sarahsville....I would think he would have an idea if Eclipse purchased FCEC leases....I guess time will tell.

Permalink Reply by Robert Fulton on August 31, 2011 at 1:38pm
Landman ? Fisherman ? inquiring minds want to know.
Permalink Reply by Private KeepOut on August 31, 2011 at 4:40pm

How bout....Landman ? Phishing Man ? or Fisherman ?

 

 

Permalink Reply by Robert Fulton on August 31, 2011 at 5:33pm

Great minds think alike...

 

Permalink Reply by Mark Curry on September 1, 2011 at 9:24am
The test hole on Miley land has a Fossil Creek sign on the entry road..haven't heard of Eclipse buying them out. Its just off of 285 south of the lake.
Permalink Reply by Private KeepOut on September 1, 2011 at 11:17am

Hi Mark, just got confirmation about these sites:

 

Fossil Crk #1 Rt 147

Fossil Crk #2 Windy Ridge & Rt 285

Fossil Crk #3 Robins Ridge Golf

Fossil Crk #4 South end of Seneca Lake Rt 566 & 574...my area.

 

Approx. 8 wks to finish each site....excavate & drill

 

How's that for having contacts! lol :-)

I will not mention farm names. ;?)

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