No interest in island creek township, Jefferson county?

Was told there is no interest in that area...

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Permalink Reply by jett on July 2, 2013 at 10:59am

Who told you that? 

Anyone with any input for that area?

Permalink Reply by Christy Lee on July 2, 2013 at 11:34am
jett:
Spoke to someone in Jefferson county today that said not to much interest in island creek....I have some property there. Is that not accurate? I live out of state, only know what I'm told!
Permalink Reply by jett on July 2, 2013 at 12:23pm

As of last year, Cheasapeake was leasing there, even leasing up smaller acreage. According to the news reports (and lots of info on here, do the search on Chesapeake (CHK) on this site or even google), they have had to do some major readjustments because they were over-extended from acquiring so many leases too fast. So they have been holding back from doing more leasing recently. That doesn't mean there is no interest but probably means no interest in leasing just at this immediate point in time. This play is still in the early stages of development and the midstream operations are just starting to roll (with more on the way). So many rumors fly around some from lack of understanding of the magnitude of work/planning/monies needed to set-up this type of industry. We've all been told so many conflicting pieces of information - just have to be patient and alert. Hope this helps :)

Permalink Reply by Christy Lee on July 2, 2013 at 12:25pm
Thank you. It was someone telling me it might not be worth holding on to...
Permalink Reply by jett on July 2, 2013 at 12:34pm

If you don't need to sell it, think long and hard about what you could be giving up. If it does have potential, the dollars you receive could far, far outweigh anything you'd get selling it just as ordinary property. There has been oil/gas interest in island creek already. The decision is yours to make, though. 

Permalink Reply by Christy Lee on July 2, 2013 at 1:01pm
Was a lawyer.
Permalink Reply by jett on July 2, 2013 at 1:37pm

Anybody else have any comments about this????

Christy Lee,

I don't know who the lawyer is but again look up lawyer on this site's search. There is alot of digging thru and reading but some have felt they've gotten lousy advise from lawyers during this boom. Some lawyers just simply didn't know the oil and gas business. All the research I did showed that CHK was leasing that township until they put a hold on their leasing as was previously mentioned. Maybe you can call some other lawyers mentioned on this site.

P.S. Some lawyers are working for both sides of the gas/oil leasing. If there's no rush, take the time to call around.

Anybody else going have some info into her question?

Permalink Reply by Christy Lee on July 2, 2013 at 1:49pm
Good advice. I was beginning to wonder....I was raised in the area but left years ago...will look at lawyers on here. Can't tell you how much help you and others have been on this site!
Permalink Reply by jett on July 2, 2013 at 3:34pm

Don't forget lawyers from WV, too. They've been at it longer over there. You also might want to check out the USA group, the Jefferson County, OH group on this site or see if you can join Shale Forum (also by Keith Mauck). Wishing you the best with your property!

Jett

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