Comment

Comment by Finnbear on September 14, 2011 at 3:57am

Robert Shinn

It appears a previous owner may have reserved the mineral rights. You didn't post enough of the clause to tell exactly what is the case. You also need to consider WHEN these rights were reserved.

Finnbear

Comment by RobertS on September 14, 2011 at 2:30am

I am just now checking to see if I have mineral rights. I am east of Seneca Lake. I live in Akron, so I don't have a lot of opportunity to pursue.

Here is the clause on my deed regarding mineral rights.."Reserving unto the grantors, their heirs and assigns, all the oil and gas in and underlying above described premises, said oil and gas rights have been heretofore conveyed”

 

Were your lease rates favorable?

 

Comment by George Smolinski on September 13, 2011 at 12:35pm

Things have gotten very quite in the rooms.....

Comment by DPG on September 8, 2011 at 9:37am

Just sharing an article that I saw today about Hess Energy.  I don't know much about them, but there is a small reference to Noble County.  

 

Consol Energy Splits Ohio Shale Drilling; Retains ‘Oil Window’ in Mahoning County
Sept. 8, 2011 7:14 a.m.
PITTSBURGH -- Consol Energy Inc. has entered into a $593 million deal with Hess Energy of New York for the joint exploration and development of Consol's 200,000 acres in the eastern Ohio Utica shale.

The agreement splits shale drilling work with Consol generally operating in the so-called "oil window" in Mahoning County as well as in Portage, Tuscarawas and Noble counties, according to the joint announcement. Hess will operate "in the liquids-rich window," the companies said, which encompasses some 80,000 acres in Belmont, Harrison, Guernsey and Jefferson counties.

Consol and Hess anticipate initial drilling operations to begin in a few weeks, and will thereafter average two rigs in 2012, 3.5 rigs in 2013, and eventually plateau at an average of five rigs in 2015.

"We are very pleased to have Hess Corporation as our partner in the Utica shale," commented J. Brett Harvey, Consol chairman and CEO. "Together we will explore and delineate what could be a significant resource in a safe, efficient, and economical manner."

Of the nearly 200,000 acres in the Utica shale in Ohio, 80,000 acres were acquired decades ago by Consol, Harvey said, and 120,000 were acquired last year as part of the Dominion E&P acquisition. "We expect a pretax gain on the transaction, before fees, of $59 million," he said.

"We are delighted with our entry into the Utica shale, which enables us to build a strategic acreage position in an emerging unconventional play in the United States," said John Hess, chairman and CEO of Hess Corp. "We believe that together our companies will build a profitable business and deliver important economic benefits for the residents of eastern Ohio."

The total aggregate consideration to be paid by Hess for an undivided 50% of Consol's fee and leased mineral interests in the Utica shale acres in Ohio is approximately $593 million, or $6,000 per net acre, the companies said. Hess also has agreed to pay 50% of Consol's obligations relating to certain drilling and completion costs, up to total $534 million, as the acreage is developed.

With this joint venture, Consol Energy will be able to explore and delineate its Ohio Utica shale acreage for 25 cents on the dollar, while still retaining a 50% interest. "It's a very low-risk form of exploration," the company said.

The transaction is expected to close by Oct. 21. It excludes Consol's shallow rights in Ohio and its remaining Utica shale acreage in Pennsylvania and West Virginia.

Copyright 2011 The Business Journal, Youngstown, Ohio.

 

2nd article:

Hess Corp. buys Marquette Exploration's Utica Shale acreage for $750 million 9:15 am, September 8, 2011 For the second straight day, energy giant Hess Corp. (NYSE: HES) has announced a substantial investment in eastern Ohio's Utica Shale region, where large amounts of oil and natural gas are thought to be trapped. Hess said it has acquired Marquette Exploration LLC and other leases in Ohio's Utica Shale area, boosting its acreage position by 85,000 net acres at a cost of about $750 million.

The leases, in which Hess will have a 100% working interest, are in Jefferson, Harrison and Belmont counties.

Yesterday, Sept. 7, Hess announced that it has agreed to acquire a 50% interest from Consol Energy Inc. (NYSE: CNX) in nearly 200,000 acres in the Utica Shale region for aggregate payments of $593 million.

Appraisal activities on the Marquette Exploration acreage are planned to begin in the fourth quarter.

“With these transactions, we have built a strategic acreage position in the Utica Shale, allowing us to strengthen our portfolio of unconventional resources in high-quality assets, leverage our operating expertise and create significant potential for future growth in reserves and production,” John Hess, chairman and CEO of Hess Corp., said in a statement

 

Comment by Finnbear on September 3, 2011 at 4:00pm

Here is a link to an article written by a prominent oil & gas attorney about lease clauses often found in leases offered  in the Utica and Marcellus Shale plays. Interesting reading and reinforces the fact that you MUST have a good landowner-friendly lease that you FULLY understand.

Unusual Ohio Oil and Gas Lease Provisions

Comment by George Smolinski on September 1, 2011 at 2:08pm

Hi Robert,

I do not know about the others, but I have had to reach out to make contact with any of the prospective companies in order to have them forward me a written contract or offer. I got the contact information from members of the Ohio group on this site. Most provide a email and phone number....Just takes a little research. Everyone of the companies I have contacted got back to me. Some had contracts and offers I would not consider...my last one that I have in hand was the best as far as landowner friendly and what seems to me a fair offer.

Comment by Mark Curry on September 1, 2011 at 1:43pm

Robert,

If the deed you are talking about (your property) is on file at the County Seat (Caldwell) and it states you have all mineral rights, that is good.  If you sign a lease, you are leasing those rights free and clear to the O&G Company.  Be very careful that language cedes rights from the depth of the Marcellus and below (including the Utica)..~7,000 feet.  If you are like us, you may have gas in the plays above (example, Berea, Clinton) that are much shallower..if you want to use this resource fully, as your own, for domestic or other use, you want to retain those rights.  It should be clear in the lease where the cutoff is.

Comment by RobertS on September 1, 2011 at 1:16pm

My deed says I have 'All Mineral Rights', but I'm not sure if that means anything. The landowners surrounding mine have been signed up I believe. If I actually had rights it's likely they would have contacted me by now, right?

Comment by George Smolinski on September 1, 2011 at 12:32pm

Thank you TP

Comment by Private KeepOut on September 1, 2011 at 12:22pm

Sorry messed up on the phone # for Southeastern Ohio Landowners Assc.

740-373-2414

emai: jennifer@jennifergarrison.com

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