Replies to This Discussion

Permalink Reply by Chris on June 18, 2013 at 1:28am

Small companies cant afford to piss away money like a CHK or Gulfport to start extracting oil and gas when prices are rock bottom and there is little to no infrastructure in place. 

Permalink Reply by al raptoria on June 20, 2013 at 6:21am

Local attorney just told me that Sierra Buckeye IS going to drill TWO wells in Tusc County,. one late this year. For whatever that's worth.

Permalink Reply by 0i7okn54zwbdo on June 20, 2013 at 7:05am

That's been the story from Sierra Buckeye for two years now. 

Permalink Reply by al raptoria on June 20, 2013 at 8:01am

...and that two years is up now... Attorney mentioned the one location ...I think off of 258 where Sierra will commence drilling THIS year. They are well-funded and know infrastructure is in the works and prices fluctuate, plus the by-products have a different market. .

Permalink Reply by TM on June 20, 2013 at 8:19am

Must be the beem family trust well by gnadenhutten then. This well would be really close to blizzard ridge rd where the plant is supposed to be built by kinder Morgan.

Permalink Reply by Jim Krocker on June 20, 2013 at 8:30am

The Kleski well is supposed to be close to the junction of 258 and 800 by Stillwater and was permitted by Sierra.

Permalink Reply by al raptoria on June 20, 2013 at 9:00am

That sounds like the one the attorney mentioned. I asked him point blank if Sierra was just a flipper, having sat in on their meet and greet two or was it three years ago, unimpressed (offering $1500 and something like 14% then) and yesterday attorney said , No, they are not flippers, they ARE scheduled to drill the first well later THIS year. No one was more surprised than me.

Permalink Reply by Paul Martinelli on June 20, 2013 at 9:31am

It the Attorney Hudson&Hillyer?  I suspect it is.   

 

I belive they'll drill when I see it.

 

They told me they were drilling last year.

 

I'm betting they sell out.....I  liked dealing with them....so I hope I'm proven wrong.

Permalink Reply by maria armes on June 21, 2013 at 12:01am

So what are your thoughts on drilling deadlines.  I leased for 5 years and as of today they have 3 years left on the contract.  If they do not drill they have to lease my place again under the same contract and pay up again.  Does anyone think they will resign or just pull out?  

Permalink Reply by Paul Martinelli on June 21, 2013 at 1:42am

My thoughts are that it is a toss up.

Some will be drilled, some resigned, some comapnies may sell or pull out...

 

It all will be drilled sooner or later......so all we can do is sit tight and not get too excited and sellout.

Permalink Reply by al raptoria on June 21, 2013 at 2:27am

All they have to do is drill a shallow well in order to keep the lease in effect, right? Unless your or another lease in your unit forced the point that it needs to be a horizontal well. Expect a lot of shallow wells drilled all over the area as the 5 year expiration date nears! There will always be buyers of rights/leases....but at what price, no one knows. And for what purposes.,.. again, who can be sure? This is the new gold rush - complete with all its unpredictable cycles. Hurry up and wait seems to be the mantra.

Hillyer was the source of the info.

Permalink Reply by Dott on July 13, 2013 at 3:15pm

When I spoke to Sierra Resources (I believe they changed their name) recently they confirmed that they will drill the Kleski property at the end of this year and at the end of next year they will drill another well from the same pad. They are still in the process of putting together a second unit for the second well.

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