Replies to This Discussion

Permalink Reply by 015334grltd9m on November 22, 2010 at 9:26am

Steve, Ron here, do not sign anything yet, they are looking for 640 acres, so all of us will be tied to you for horizontal drilling. you are in a good spot because of all the land next door to you.

Permalink Reply by stephen brescia on November 22, 2010 at 2:35pm

HI Ron, could you give me a call and discuss this with me. Steve 707 291 7073

Permalink Reply by 015334grltd9m on November 24, 2010 at 2:54am

For around two weeks now here in Mahoning county, things have been going crazy. First the local independent gas companies are complaining that no one wants to sign leases for the decades old Clinton drilling leases. This is because Chesapeake is in town and the published signing bonuses are at 2K average per acre. The independents are at $10 per acre and many landowners are upset for signing on in the past. In addition, in Milton, there is a current large drilling rig which rumor has it drilling core samples, the other large drill in Belmont hit the Utica and the results were mind boggling. As is in other gas plays, everyone seems to be tight lipped about what is going on here, what is talked about by many here is that the Utica is under us and is very thick. The ODNR reveals not only enormous gas but a large area of OIL. My contacts in the county recorders office have informed me that for the last month, confidential contractors have been packing the Deed room here wherein you cannot even move in that room.

Owning a landholding company and representing many land holding families in Mahoning and Trumbull, I have never seen so much activity in my thirty years of real estate experience. For the past 24 months I have been working with local independent O&G's and fortunately we have not signed anything, I even had a landman friend in my office complaining that the large companies are rolling over them. An important factor here in these counties, are that we have the infrastructure in place so our approach is to get the wells rather than just leases. Lately, we are dusting off old files and plat maps of our associates and are now unitizing ourselves in preparation for negotiations with the large companies. Chesapeake has called and is to open discussion with us after turkey day, I cannot believe all our old associates are rallying behind our company, thank you. Fortunately for us we have one of the strongest track records in managing property here in these two counties. One family client has around 500 acres with the mineral rights intact and cannot believe the potential, and is very thankful that we did not advise them to lease two years ago. In our opinion, the approach here is to close ranks and unitize in some manner because a 640 acre unitization for horizontal wells will include the smallest residential lot to acreage out parcels. Every piece of ground is in play now.

Permalink Reply by MonBel O & G Landowner Watchman on December 2, 2010 at 2:31pm

Ron, I live in Monroe/Belmont......what is your knowledge of the deep oil reservoir in east and southeast Ohio, or are you knowledgeable of any potential for the area? Thank you!

Permalink Reply by 015334grltd9m on December 2, 2010 at 3:56pm

Hello Mr. Burgess,

A lot has happened since my orignal post. The large drilling rig hauled up from Oklahoma City is about done with their drilling here at Lake Milton in Mahoning county. The ODNR reported that the permit was for a stratigraphic well. Yesterday I visited the rig but of course was not authorized in, I did however learn that the drilling was completed but the results are again confidential. As I returned to my office, my associate advised me that I recieved a call from a broker for Chesapeake. Concerning your questions, as a real estate "landman", I have uncovered a lot of information and believe that we now understand what is being played here in eastern Ohio. Please call my office and we can discuss some of this proprietary knowledge, 330 707 9688. BTW, explain to me what is going on in your neck of the woods.

Permalink Reply by stephen brescia on December 3, 2010 at 4:33am

Hi Ron, If you have any more infosince we last spoke, please call me. Steve Brescia

Permalink Reply by 015334grltd9m on December 3, 2010 at 3:07pm

Steve, call Bruno right away, I have been contacted and now am working with Chesapeakes's exclusive broker. As we speak I am feeding them parcel #'s all over the county, we are moving fast with them. After you call Bruno, call me tomorrow at noon, I have a lot of meetings with my landowner associates tomorrow.

Permalink Reply by stephen brescia on December 4, 2010 at 3:35am

Ron,What i am isupposed to talk with bruno about. Steve

Permalink Reply by Brett R Oxley on December 3, 2010 at 6:06am

The well being drilled on Newton Falls Rd, part of Lake Milton fire district is in my backyard,(neighbors adjacent property). I have been offered a lease, but from what I am reading it is very low considering the proximity and size of the drilling operations. The landowner where the well is being drilled has a large farm, with many smaller farms and propertys adjacent to it.

what do i need to know about this and where can I learn more from.

Permalink Reply by 015334grltd9m on December 3, 2010 at 3:09pm

Brett call me tomorrow at 11:30 ( 330 707 9688)my schedule is packed tomorrow but I will take your call, we also have a lot of land in Lake Milton which we are asked to provide to Chesapeake.

Permalink Reply by Brett R Oxley on December 7, 2010 at 7:16am

Just saw this post, will try to call you now, will leave message and phone number if you are out.

Permalink Reply by Brett R Oxley on December 8, 2010 at 6:41am

The well drilling rig in my backyard (neighbors) disappeared over the weekend. I guess they can take it down as fast as it goes up. This demonstrates that their is significant money at play here when that massive of a tasking can happen in a few days on a weekend.