Replies to This Discussion

Permalink Reply by Joseph-Ohio on June 26, 2013 at 5:46am

We're hearing that Buckeye is having another meeting July 9, 2013 at Pymatuning Valley High School in Andover.  Of course that seems to us to imply that they have no deal to present to the membership which signed on as we have it under the pretext that they would have a deal to vote on by June 30, 2013.

Wondering what the membership's mood is ?

Wondering especially about how Eastern Ashtabula Landowners Association (EALA)  is taking the apparently negative news.

Why doesn't EALA come up with something themselves ?

How about a group of local Drillers who perhaps are already members of EALA coming up with a landowner cognizant leasehold agreement, a member Attorney or Law Office looking after the membership's interests, and then developing some drilling units ?

If something like that were to develop we might join EALA as well.

Probably a lot of hurdles to negotiate.

Probably we'd hear again all about the same industry shortcomings (hopefully only from the industry); you know: 

1) Lack of infrastructure (no pipe for Oil / NG / NGLs) 

2) Held By Production / Landowners already leased

3) Non-Contiguous lands

4) Low Geo Pressure

5) Not enough seismic data

6) Not enough test bores

7) Not enough wells in production

Those are things that to me represent excuses more than reasons.  If those issues need to be addressed then a Landowner Group ought to move and address them for their membership.  The group ought to come up with ideas / resolutions for the membership to vote on - choose a course of action - and then roll with it.

We're not finding much sense in tying up our land for an extended waiting period and then not seeing any progress resolving the issues holding up the show.  That tact seems to have been tried and also seems to have failed.  Hasn't it ?  Does anyone know any differently ?  Wonder if it's not just wishful thinking here ?

Say who is the spokesperson for EALA these days anyway ?

Permalink Reply by john p halloran on July 12, 2013 at 4:59am

Can somebody comment about the meeting with Bob rae July 9th I wasn't able to make it.

Permalink Reply by Joseph-Ohio on July 12, 2013 at 5:31am

I've been provided some information from a couple of folks who attended and
whom also I've 'friended' here.

Also I consider these folks as honest and as reliable people as can be found anywhere.

We trust their review.

Would be happy to share what they said if you send a PM in response to the 'Friend Request' I sent to you earlier.

J-O

Permalink Reply by Ronaround on July 12, 2013 at 7:28am

I was there and my take on it is as follows. after listening to the geologist talk about formations and following the layers in the ground. Lower Ashtabula county possibility mid to upper not to good. they state some where around 1.3 billion in leases are being held currently and that the lessors are in NO big hurry to accumulate more. Meaning in my opinion that if a lease is a possibility that you can bet its not gonna be as big as the rest.(in Ashtabula county). It was also stated that we are more likely to be approached by pipeline right away's people before oil leases. Not really my cup of tea. 

This is my opinion and others may have seen it another way. I am not going to consider  early retirement or buy a new John Deere in the near future.

Permalink Reply by Joseph-Ohio on July 12, 2013 at 8:26am

I think the location of the Ashtabula County un-leased acreage will have a lot of
impact on leases and dollar amounts.
I also think that if an area is targeted Forced Pooling will rear it's head and bare it's fangs.
Still thinking the big beatdown is on.
Also still thinking that technology exists to recover low geo-pressure oil but those Wells are
on the back burner as easier oil and NGLs is priority.
IMHO

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