Replies to This Discussion

Permalink Reply by RAY RATELL on October 27, 2015 at 12:26am

more news on the bp morrison well. bp gave the landowner the drill pad so bp did not have to reclaim the pad, gave the landowner 100,000 so they did not have to reclaim it. bp is gone they will not resign the lease's. i have asked them to release my property and they told me they will just leave the lease run its course, they are not spending one dollar in ohio. they are gone and will not be back. they have oil in deep south and the oil is in the country and they have no fracking problems. the people bitched and the oil companies gave up on this area because of the negative attitude of the public. halcon left and said they will not drill here because of the people and government problems, they will not rebuild our roads. they said it is not worth the expence, the wells are not that good to spend 10 million dollars to drill.

i am glad they are gone, all i seen was my taxes to go up from politians. stay out bp and halcon we do not need you. the oil companies are rapists of the land and land owners pockets, people went nuts thinking they would be oil barrens and the politicals wanted all the money, lol that is why big oil left. greed gets you no where.

i am glad the moron politicals chased the oil rapists out of ohio. you can read how the oil rapists have screwed land owners. ohio politians are to stupid on oil, there needs to be more laws to protect the land owner before any more oil companies come into ohio.

each zone in the ground should be separate. no one should have total control of all minerals. when the government thinks of the land owners and making money from oil drillers, and make the laws to control them, then let them come back to ohio.

the west has more oil than all the world and obama and the government owns it all. that is where most the money comes from for the government to spend there trillions of dollars.

so law makers do your job and make sure the land owners of ohio and other states are safe from oil rapers.

Permalink Reply by MJ on October 27, 2015 at 1:28pm

Thanks for the update Ray.  Not surprised at all.  Just enjoy your land for what it's worth.  Try to remember why you originally bought it.  I doubt anyone here was clairvoyant enough to have bought it to get rich from O/G.

Permalink Reply by Joseph-Ohio on October 27, 2015 at 3:25pm

Thanks for your update on the Morrison, BP and HK RAY.

And, I can understand your disgust.

Alot of negative feedback and behaviour emanating from the O & G interests to be sure.

It seems that they want it but they also seem to want it for as near to nothing as they can get it - and they seem to be working hard toward that end.

There's value in the O & G within but there is also more value in owning your land than just the O & G.

Also, I don't think it greedy or unreasonable to want to be paid fairly for something that is yours when you decide to sell it.

Stay positive and good luck to you and all of us.

Permalink Reply by Winemaker on October 27, 2015 at 4:04pm

Does not make any sense.  Unless BP is trying to punish the people they see as hindering their development of the Utica, why not release the people from their leases if they are not going to do anything else???  Granted it is their right to hold on to the leases, but again I ask, to what end??

Permalink Reply by Joseph-Ohio on October 27, 2015 at 8:07pm

I would have to postulate / theorize to the end of selling the leases to another developer / E & P; instead of dissolving them / releasing the lessors from the 'agreements'.

Permalink Reply by Winemaker on October 28, 2015 at 12:04am

Then I ask, what company would spend additional money on (buy) leases that they are going to owe signing bonuses on right away and that have the term reduced to 3 years?  Would not seem like a good investment to me.....

Permalink Reply by Joseph-Ohio on October 28, 2015 at 1:36am

All it has to do is make economic sense to them Winemaker.

What they do with their monies to stay in business isn't public info. unless they want it to be.

Permalink Reply by Joseph-Ohio on October 28, 2015 at 2:12am

Also, they've got a lot more to work with than the average Joe and family !

Permalink Reply by Joseph-Ohio on October 29, 2015 at 1:37am

Perhaps only 'in it to flip it' ? ?

Permalink Reply by Joseph-Ohio on October 31, 2015 at 11:43pm

When Leases Term & Things Pick Up :

Hoping we don't see a lot of Forced Pooling Applications to the ODNR to pool lands / landowners into substandard tailgate leases. That's always been of serious concern to me - and don't know why it doesn't seem so to everyone else.

That's why I think Ohio needs to either revise force pooling rules to provide a modern land / landowner cognizant Leasehold with a minimum $3,000 / acre sign on bonus / paid up front delay rental and at least a 12.5% guaranteed royalty - or repeal force pooling / force unitization laws / rules altogether.

Something like that would need to be applied to all Ohio forced pooling / forced unitization applications for any long horizontal bore in any strata / for all pooled acreage amounts - HBP or whatever.

All as it always is, only IMHO

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