Replies to This Discussion

Permalink Reply by 0i7okn54zwbdo on April 25, 2012 at 6:35am

There are hundreds of private equity firms who are looking to buy into deals like this across the country. It could be absolutely anyone.

Permalink Reply by 0i7okn54zwbdo on April 25, 2012 at 3:58pm

That's some good detective work, JODI.  You might be right about that.  I know PDC wanted into the play and this looks like a good way to get in.

Permalink Reply by 0i7okn54zwbdo on March 2, 2012 at 4:07pm

Those of us in the know were sure that Licking county had potential as far back as last winter. However, to go spend money on a project means that you're inherently risking capital on a hunch. If Mr. Hill--whom I've never met and have absolutely no opinion of--bought leases for $1,000/acre and hit five dry holes would he be entitled to get his money back from all of his lessors? Of course not. Everybody wants a deal and nobody cares if someone down the line gets stiffed if that deal benefits them. Remember, the small producers are gone after this boom really sets in. No more cheap leases for steady, conventional wells, no more reasonable land costs, nothing. It's gone. So he may see this as his last shot to make enough to retire a rich man, which I'm told is part of the American dream. Don't forget that the mighty Chesapeake started out as two landmen who had a dream and a vision. The beauty of the American entrepreneur is that risk can pay off big and those who live meek lives of timidity tend to merely inhabit space rather than create something great and lasting. Did Mr. Hill roger those folks good? Probably. But I bet nobody gives him his money back if Licking county is a total bust.

Permalink Reply by 0i7okn54zwbdo on March 3, 2012 at 5:10pm

I knew Licking was going to be hot and I don't work at OOGA.

Permalink Reply by Doug Ross on March 4, 2012 at 1:39am

 Do you have any information on the location of the other sites that are being prepared?

Permalink Reply by Doug Ross on March 4, 2012 at 11:45am

Message sent.

Permalink Reply by 0i7okn54zwbdo on March 5, 2012 at 5:56am

Sensibaugh Unit map: http://www.dnr.state.oh.us/mineral/oil/MRMImages/17/1/222142.pdf

Permalink Reply by Doug Ross on March 5, 2012 at 10:39am

Thanks for posting that. It appears that they are drilling the horizontal leg in a South to North direction. It seems that all of the ones drilled in Eastern Ohio run in a NW/SE diagonal direction.

Permalink Reply by 0i7okn54zwbdo on April 26, 2012 at 5:55am

Yes, they have enough capital to do some serious drilling.  Remember, completion costs out your way are nearly half  what they are in my neck of the woods.  A cheaper drilling program is very attractive to someone like PDC.

Permalink Reply by 0i7okn54zwbdo on March 5, 2012 at 3:48pm

Yeah, there's no real reason for them to drill at the orientations that they are up my way.  Devon is drilling N to S on all of their wells and I assume they have a reason for it.

Permalink Reply by F Donia on April 19, 2012 at 1:57pm

State Rep. Okey Introduces Truth in Leasing Act

COLUMBUS,Ohio -
State Representative Mark D. Okey introduced today his “Truth in Leasing” bill to protect Ohio’s landowners against fraud, abuse, and deceptive practices by the oil and natural gas industry.

http://lookbeforeyoulease.org/2012/03/26/state-rep-okey-introduces-...

Folks who were ripped-off by Dave should contact Rep. Okey and arrange to testify on the Bill's behalf; it might help other Landowners to get a fair shake - someday.

Permalink Reply by 0i7okn54zwbdo on April 19, 2012 at 4:46pm

Well Mr. Okey is one Hell of a leader, i tell ya.  Nothing like introducing a law prohibiting something AFTER it has already affected the majority of landowners.  This bill will of course fail because it includes a provision that forces service companies to disclose proprietary information about completion and stimulation methods.  But good for Mr. Okey.  Somebody had to be there to close the barn doors after the horses already got out.  

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