Can anyone give an update on the KWGD group? Did you guys at least accept an offer from a gas company or is it all still in limbo? My father has property in Guernsey and I'd like to know what's actually going on there.
Hey, Dave. Thanks but no thanks for your comments. He's not in the group but is part of the larger group being a common landowner in Guernsey county. As far as a "need to know basis" if everyone took the same pathetic attitude as you then there wouldn't be much sharing of beneficial information on this site or others like it. I'm sure you've benefited in some way by others being kind enough to share their situations. By all means, Dave, don't return the favor.
Jeremy. The members of the KWGD group are bound by confidentiality agreements. This has been posted many times in different posts, yet people still continue to pry. All it does is hurt the group members potential interests, some of which could very well be your neighbor. When something is final and set in stone, I'm sure no one will mind sharing all of the details - until then we should all be courteous, respect the process and the groups' wishes.
Dave, I understand the confidentiality agreement and a simple reply like your second is all that was requested. I just wanted to know if they have finalized the deal yet. I'm assuming by your last comment that they have not yet and all is still up in the air. If you are part of the group, will you please update the rest of us once the deal is completed?
Didn't mean to offend. Who knows what your intentions are when you ask a question that is asked daily with the same response. I don't assume anything. I don't know if I'm in the group or not, and I don't consider a deal done until the money is in the bank. I do know that I care nothing of the price of rice in China, but I don't know if that has anything to do with an O&G lease. A better question would be - Exactly how far can a pig run on a quart of buttermilk?
John No one is talking about pressure what I need is for a land owner to look at the well and if their is a guage see what the pressure reads. Dont touch any thing just look. Thanks Mike
Question guys, I have 97 acres in adams twp guernsey county. Artex drilled a crappy well on us a month ago but it only took in 55 of our 97 acres. Lease i'm sure has already been sold to Anadarko but what happens when original lease expires next Nov to the 42 acres not included in the crappy well? Thanks for any input.. Arch
Dave The lease will be held by the production of the crappy well unless you added a provision in the lease wereby the well drilled only holds a specific amount of acreage. I would have to read the lease to be sure. Mike
Dear Friends I went to Pa. last Thursday and met with Rice Energy they invited me to look at their operations very nice group of people. The locations were very large neat and clean equipment was all in very good condition. The reasion for my visit was to see for myself what is comming to Ohio and I was impressed. I meet with Toby Rice CEO and Kyle Rice Landman they have Guernsey County in their drilling plans. I am a business man and I have come up with alot of ideals for new business ventures in Guernsey County for the people that are unemployed and willing to work get ready jobs are comming this way soon. I will try to post some pictures can any one tell me how to do that. Thanks Mike
Mike I don't have a scanner to email it to you could i send you a hard copy? If you email me your address at d_archer@att.net I can get it out to you on monday. Thanks for your time. Dave
Wow... I can't believe it has been a whole day & there has been nothing posted anywhere on the Guernsey site. I believe that is the first time this has happened since I started following this site about 3-4 months ago!
Nelson I think every one joined that group that had to sign a confidentiality agreement. I wonder if they made them turn off the tv and stop reading the news paper.However here in Guernsey County the Jeff has not written many stories about the bigest thing going on in the County If not the State.
Agreed Mike.. there has been nothing to read in the Jeff, some articles about the economic boom but nothing about the leasing activity, nothing educational, nothing to help or prepare people for whats going on. A total failure to inform.
That's just typical Jeff. If it doesn't have something to do with the tourist industry or one of the good ole' boys they just ignore it. Hard to believe the out of town papers have more info than they do.
I live in Cleveland but I own land in Millwood twp. So to try and stay informed about local issues I subscribe to the Jeffersonian. You are right there is very little information on the biggest news story in decades. One news story that I noticed last week is that a Pennsylvania company has expressed interest in buying the former sewer plant of the Village of Byesville to clean 750,000 to 1 million gallons of fraking water each month. In the aftermath of the record flood of 1998 and the resultant contamination of the village water supply, the village built a state-of-the-art water treatment facility. What happens if you get more flooding but this time your water is contaminated with frack water?
Marcus I have a friend that took a $250.00 offer within 7 days the price went to $2500.00 it is now 5 months latter $3000.00 to $5000.00 15% went to 19% . The best information I can give is to join a group they no what the fair price is and can guide you.
Attention ALL Guernsey Co. KWGD group 5 members... If you have not checked your email recently please do so. If you do not have anything from the group with today's date (10/10/11) on it, you may want to contact the firm to find out the latest updates. Also, there will be a meeting on Thursday, Oct. 13th 6pm @ Pritchard Laughlin civic center in Cambridge. If there is any way possible to attend, I believe that you may want to try to be there. :-)
This is a law firm from Canton, OH who has successfully organized and represented a number of landowner groups with respect to oil and gas leases in the SE Ohio area of the Utica Shale.
If you have land in Guernsey and looking to lease your minerals I would strongly suggest that you contact KWGD ASAP before our meeting this thursday at 6:00 at Pritcahrd Laughlin in Cambridge.. 330-497-0700 ask for Nathan Vaughan.
Not really Mike. I would think with your many years experience in the business... You would know that you don't always want the other companies around you to know your every move...
If I had any production numbers to share, I would be more than happy to share that. I believe they are few & far between right now with still only having 4 wells permitted in Gue. Co. I did see on the update where the one that is permitted for Spencer township now says that they are drilling the "conductor hole". I believe that once there is more actual drilling activity in our area, this forum will again be buzzing with what all is going on...
Chesapeake Energy Reports Results of Four Utica Shale Wells
Chesapeake Energy (CHK) reported the production results of four wells drilled and completed into the Utica Shale in Ohio and Pennsylvania. The company has drilled a total of twelve wells into the play.
The Buell 10-11-5 8H produced at a peak rate of 3,010 barrels of oil equivalent (BOE) per day composed of 9.5 million cubic feet of natural gas and 1,425 barrels per day of natural gas liquids and oil. The Buell 10-11-5 8H is located in Harrison County, Ohio, and was drilled with a lateral of 6,418 feet.
The Mangun 22-15-5 8H produced at a peak rate of 1,530 BOE per day composed of 3.1 million cubic feet of natural gas and 1,015 barrels per day of natural gas liquids and oil. The Mangun 22-15-5 8H is located in Carroll County, Ohio, and was drilled with a lateral of 6,231 feet.
The Neider 10-14-5 3H produced at a peak rate of 1,615 BOE per day composed of 3.8 million cubic feet of natural gas and 980 barrels per day of natural gas liquids and oil. The Neider 10-14-5 3H is located in Carroll County, Ohio, and was drilled with a lateral of 4,152 feet.
The Thompson 3H produced at a peak rate of 6.4 million cubic feet per day of natural gas. The Thompson 3H is located in Beaver County, Pennsylvania, and was drilled with a lateral of 4,322 feet.
Chesapeake Energy said that the Utica Shale production rates disclosed assume maximum ethane recovery by the company, although currently minimal amounts of ethane are being recovered due to temporary market limitations.
Hey guys i have a question for you. What is the best way to get some time sensitive tax information out to the people participating in the KWGD group? I have a few clients in the group and as i was meeting with a well-established Accountant yetserday for their benefit , i found someone who has turned the "bonus" payment money into a Capital gain instead of an oridnary gain. This as most of you know will be a savings of around 20%.
I dont want to break any rules on the site by soliciting, but i do feel like i can point some people in a good direction. Thanks
I would say the best way may be just to see who comments back to you on this, then have them add you, or you add them & then you could speak freely through the inbox msgs.
Bonus payments are required to be treated as ordinary earned income. If you report it as a capital gain, you do so at risk. There have been many dicussions of the tax consequences on the Harrison Co page and the main page.
Here is a little helpful info. Let's all assume we get these huge bonus payments in Jan. 2012. Alot of people will think they get to keep & invest that money untill Apr 15, 2013, right? But it doesn't work that way. Uncle Sam will expect you to send in the first of your quarterly payments in March, 2012. When you come into a large sum like this you are required to make quarterly payments. If you fail to do so there are penalties. See the link from IRS. If someone wants the tax schedules, yell back and I'll post that link.
Thanks Randy. You are correct I would assume that there is always a level of risk when dealing withthe IRS. From what I have been told though by the gentleman i am working with is that they have succesfully done this before.
I'd bet an accountant could almost do anything. I'd also bet they could get away with most things. I'd just hate to get caught doing the wrong thing, but I'm a fairly conservative fellow. Here's the link to this year's tax tables, just in case we get paid before Dec 31.
Its been my experience that you can claim anything you want ..but if you get an audit then you have to backup it all up and hope the examiner agrees with you. Some tax "experts" play it conservative .. some not.
Jon Henderson
Sep 25, 2011
Jeremy
Can anyone give an update on the KWGD group? Did you guys at least accept an offer from a gas company or is it all still in limbo? My father has property in Guernsey and I'd like to know what's actually going on there.
Sep 27, 2011
DM
Sep 27, 2011
Jeremy
Hey, Dave. Thanks but no thanks for your comments. He's not in the group but is part of the larger group being a common landowner in Guernsey county. As far as a "need to know basis" if everyone took the same pathetic attitude as you then there wouldn't be much sharing of beneficial information on this site or others like it. I'm sure you've benefited in some way by others being kind enough to share their situations. By all means, Dave, don't return the favor.
Sep 27, 2011
DM
Sep 27, 2011
Jeremy
Sep 27, 2011
DM
Sep 27, 2011
Jeremy
Dave, I really don't follow you, but that's ok. I'll stay in tune with what's going on through other resources. Thanks anyways.
Sep 27, 2011
michael j belaj
Sep 27, 2011
Shower Bath
Chesapeake released their nOhio Utica production numbers today.
http://www.chk.com/News/Articles/Pages/1610725.aspx
Randy
Sep 28, 2011
David Archer
Oct 1, 2011
michael j belaj
Oct 1, 2011
David Archer
Oct 1, 2011
michael j belaj
Oct 1, 2011
michael j belaj
Oct 1, 2011
David Archer
Oct 1, 2011
michael j belaj
Oct 1, 2011
David Archer
Oct 1, 2011
Nelson Roe
Oct 4, 2011
michael j belaj
Oct 4, 2011
Steven Gardner
Oct 5, 2011
Red Skelton
Oct 5, 2011
Philip Brutz
I live in Cleveland but I own land in Millwood twp. So to try and stay informed about local issues I subscribe to the Jeffersonian. You are right there is very little information on the biggest news story in decades. One news story that I noticed last week is that a Pennsylvania company has expressed interest in buying the former sewer plant of the Village of Byesville to clean 750,000 to 1 million gallons of fraking water each month. In the aftermath of the record flood of 1998 and the resultant contamination of the village water supply, the village built a state-of-the-art water treatment facility. What happens if you get more flooding but this time your water is contaminated with frack water?
Oct 5, 2011
John
Oct 5, 2011
michael j belaj
Oct 5, 2011
Steven Gardner
I'll post here also.. new plat filed for Kimbolton RHDK well shows a total plan of six wells on the pad. http://gomarcellusshale.com/group/guernseycounty/forum/attachment/d...
Oct 8, 2011
Nelson Roe
Oct 10, 2011
llirttoc
Oct 11, 2011
Finnbear
Krugliak, Wilkins, Griffiths & Dougherty Co., L.P.A.
w***********
This is a law firm from Canton, OH who has successfully organized and represented a number of landowner groups with respect to oil and gas leases in the SE Ohio area of the Utica Shale.
Oct 11, 2011
scott peterson
Oct 11, 2011
Steven Gardner
FYI - DNR has just added a "Weekly Permitting Activity" page to the website..
http://www.ohiodnr.com/oil/shale/tabid/23174/Default.aspx
Oct 11, 2011
Michael Kuhel
It couldn't have been for the KWGD meeting that is scheduled for this Thursday.
Oct 12, 2011
Red Skelton
Oct 12, 2011
Nelson Roe
Oct 13, 2011
Nelson Roe
Oct 14, 2011
scott peterson
Oct 14, 2011
Nelson Roe
Oct 14, 2011
F Donia
09/28/2011
Chesapeake Energy Reports Results of Four Utica Shale Wells
Chesapeake Energy (CHK) reported the production results of four wells drilled and completed into the Utica Shale in Ohio and Pennsylvania. The company has drilled a total of twelve wells into the play.
The Buell 10-11-5 8H produced at a peak rate of 3,010 barrels of oil equivalent (BOE) per day composed of 9.5 million cubic feet of natural gas and 1,425 barrels per day of natural gas liquids and oil. The Buell 10-11-5 8H is located in Harrison County, Ohio, and was drilled with a lateral of 6,418 feet.
The Mangun 22-15-5 8H produced at a peak rate of 1,530 BOE per day composed of 3.1 million cubic feet of natural gas and 1,015 barrels per day of natural gas liquids and oil. The Mangun 22-15-5 8H is located in Carroll County, Ohio, and was drilled with a lateral of 6,231 feet.
The Neider 10-14-5 3H produced at a peak rate of 1,615 BOE per day composed of 3.8 million cubic feet of natural gas and 980 barrels per day of natural gas liquids and oil. The Neider 10-14-5 3H is located in Carroll County, Ohio, and was drilled with a lateral of 4,152 feet.
The Thompson 3H produced at a peak rate of 6.4 million cubic feet per day of natural gas. The Thompson 3H is located in Beaver County, Pennsylvania, and was drilled with a lateral of 4,322 feet.
Chesapeake Energy said that the Utica Shale production rates disclosed assume maximum ethane recovery by the company, although currently minimal amounts of ethane are being recovered due to temporary market limitations.
Oct 14, 2011
Brian Sutphin
Hey guys i have a question for you. What is the best way to get some time sensitive tax information out to the people participating in the KWGD group? I have a few clients in the group and as i was meeting with a well-established Accountant yetserday for their benefit , i found someone who has turned the "bonus" payment money into a Capital gain instead of an oridnary gain. This as most of you know will be a savings of around 20%.
I dont want to break any rules on the site by soliciting, but i do feel like i can point some people in a good direction. Thanks
Oct 20, 2011
DM
You have my interest Brian...
Oct 20, 2011
Steven Gardner
Oct 20, 2011
Nelson Roe
Oct 20, 2011
Nelson Roe
Oct 20, 2011
Shower Bath
Bonus payments are required to be treated as ordinary earned income. If you report it as a capital gain, you do so at risk. There have been many dicussions of the tax consequences on the Harrison Co page and the main page.
Randy
Oct 20, 2011
Brian Sutphin
Thanks Nelson.
Steve as I am not the accountant I do not have the details or know where to find the code.
Oct 20, 2011
Steven Gardner
Oct 20, 2011
Shower Bath
Here is a little helpful info. Let's all assume we get these huge bonus payments in Jan. 2012. Alot of people will think they get to keep & invest that money untill Apr 15, 2013, right? But it doesn't work that way. Uncle Sam will expect you to send in the first of your quarterly payments in March, 2012. When you come into a large sum like this you are required to make quarterly payments. If you fail to do so there are penalties. See the link from IRS. If someone wants the tax schedules, yell back and I'll post that link.
http://www.irs.gov/pub/irs-pdf/f1040es.pdf
Randy
Oct 20, 2011
Brian Sutphin
Thanks Randy. You are correct I would assume that there is always a level of risk when dealing withthe IRS. From what I have been told though by the gentleman i am working with is that they have succesfully done this before.
Oct 20, 2011
Shower Bath
I'd bet an accountant could almost do anything. I'd also bet they could get away with most things. I'd just hate to get caught doing the wrong thing, but I'm a fairly conservative fellow. Here's the link to this year's tax tables, just in case we get paid before Dec 31.
http://www.bargaineering.com/articles/federal-income-irs-tax-bracke...
Randy
Oct 20, 2011
Steven Gardner
Oct 20, 2011