I have a chance to purchase some property in Decatur Township, Washington County, Ohio. Can anyone tell me if there is any activity and/or gas leasing going on here so I can factor this into the price? The seller is trying to tell me its worth more b/c of these rights but I am not finding any info to support that.
I own some land farther north in Wesley Township just below Bartlett Ohio on 555, I leased Five years ago this September, but I have not heard a peep from anyone as far as renewal options. right now my best guess is maybe...just maybe 500 an acre or less.
Thanks for the info. Is the gas play present in this area and looking like it will be in the future? I understand it has slowed down immensely lately, but is this a good area for the gas?
I appreciate the help. Thank you.
IF you don't mind me asking, what did you get an acre 5 years ago?
Back then, it was low 1000.00 with an option to renew at 1500 an acre. I always look to production for long term and they offered 15% with no deductions.
As far as gas is concerned the west side of Washington county is predicted to be a Very good gas AND Oil area, as well as Athens county. But it is just a prediction.
Back when I leased my property Morgan co. (just above had hid a great deposit and the oil predictions went out as far as MacArthur Ohio. and all the maps changed accordingly.
But due to the slowdown as well as political concerns with Wayne National Forest everything just pretty much stopped at Morgan County ( around Mcconnelsville).
Hope that helps with your decision.
Thank you very much. I appreciate it. I have been trying to find out info on what is happening out there, since I am from PA and am not around. Everything I am seeing/hearing/reading is that the gas is coming back and when it does, it will be full blown, so if you can purchase property, now is the time, but I do not want to invest all my money and not get something out of it, but that's how it is for everyone.
If you hear nay more info, please pass it along and take care.
any value on oil and gas in these areas is a gamble.. tyler county wv is the center of attention presently.
There appears to be a new well pad going in on Cornerville Rd in Reno, Ohio. Does anyone know if this is a horizontal well? If so it is very close to my mothers unleased land.