Replies to This Discussion

Permalink Reply by 0i7okn54zwbdo on January 3, 2014 at 9:57am

This is awesome.  As I said on another thread I absolutely love EOG (Hell, I loved 'em at $120 but wasn't smart enough to buy) and this changes everything up there.

Permalink Reply by TM on January 3, 2014 at 10:03am

They definitely know how to drill good wells that is for sure. Maybe EOG can come in and crack the code for the oil. They have drilled some great wells in the Eagle Ford and Bakken plays.

Permalink Reply by 015334grltd9m on January 3, 2014 at 4:24pm

Who is Papa? :')

Permalink Reply by David Perotto on January 3, 2014 at 6:10pm

http://investing.businessweek.com/research/stocks/people/person.asp...

Permalink Reply by 015334grltd9m on January 4, 2014 at 2:53am

Thanks Dave, I was just being funny.

Look at my new post about EOG, i was surprised to see their signature a little in the oil window here, they maybe the ones.

Permalink Reply by David Perotto on January 4, 2014 at 3:48am

Lets hope so. Portage, Trumbull, Geauga & Ashtabula have the oil - just need to get it out at an economical cost.

Permalink Reply by 015334grltd9m on January 4, 2014 at 3:07am

Boys, this may be it!  Keep the news wires open because they definitely will Tsun Tzu us all on this. 

Permalink Reply by Booger on January 3, 2014 at 10:28am

agree this is good..........they seem to be the leaders in completion technology............in other plays, they are way, way more productive than their peers....wonder if they are picking up acres in other areas of the play.

Permalink Reply by Depolarized Farmer on January 3, 2014 at 12:44pm

Attached are the assignments recorded in Portage and Trumbull Counties.  MK reserved all shallow rights and an ORRI.  The assignment was actually made on 12/10/12 in follow-up to an "Asset Acquisition Agreement" signed between EOG and Mountaineer Keystone ("Uti-Key") back on 10/25/12.  Looks like MK has been acting as a front for EOG for at least a year now.

 

MK still holds lots of acreage in other townships.  Time will tell if they flip that to EOG as well.

Attachments:

• EOG - Portage 2013-12-10.pdf, 1.8 MB
• EOG - Trumbull 2013-11-21.pdf, 928 KB

Permalink Reply by Mark Dolezal on January 7, 2014 at 11:00am

That is excellent news for our landowners. Lets all keep the news flowing on the subject of EOG and the oil window !

Permalink Reply by The Oil and Gas Lady on January 8, 2014 at 4:40pm

Hate to burst your bubble here, but EOG did NOT acquire the deep rights. This is an old agreement whereby they retained the shallow (100 feet below the Clinton and above) on the leases they previously owned (many originally leased by Anchor) and the later leases of MK/Uti Key (originally leased by Reserve Energy.)

It would be nice in the event MK/Uti Key completely bail on the northern counties that EOG would step in and do shallow units but I wouldn't hold my breath on that and it would not be at the dollars we saw during the "land grab" era.

Furthermore, it is not uncommon nowadays to see the "T's crossed and the I's dotted" prior to release of leases. Sadly I'm seeing more assignments prior to releases in this area than development and new leases.  

Permalink Reply by MJ on January 9, 2014 at 3:22am

Shallow rights, yes, does not include Utica or other deep formations.  Curious...