Replies to This Discussion

Permalink Reply by Brent Laner on August 23, 2013 at 12:37pm

I agree they should be happy, plus they can now lease with someone else for more bonus money. Can't understand Buckeye just walking away from it after investing 2.25 in it.

Permalink Reply by Denver Gallentine on August 23, 2013 at 1:31pm

Brent, those of us from Carroll County are pretty smart fellows.

Permalink Reply by Brent Laner on October 31, 2013 at 2:53am

So is Sierra getting close to drilling?

Permalink Reply by Jim Krocker on October 31, 2013 at 5:04am

I think they are in a holding pattern waiting to see what EV and others find out when they drill the volatile oil window.

Permalink Reply by Buz on November 7, 2013 at 2:44am

Yes I think so Jim. Buz  ha

Permalink Reply by Denver Gallentine on November 7, 2013 at 3:24am

Brent,

     We have been waiting for some kind of progress for years. Some things we have found w/ the oil/gas community is 1. Do not take what the landmen signing you up as anything but hype to get you to sign 2. just because they start work (ex. start putting in a pad) do not assume work will be completed 3. do not get excited until the first check is cashed.

     Most people think the "hold up" is a wait for the pipelines to be put in. I personally believe the talk by our Governor to put an excise tax on the oil companies and an additional 4% tax on landowners w/ oil/gas leases has some oil companies in a slow-down mode. (some 'big shots" with influence and/or financial intrest in the oil companies own a great deal of leased land) I have not heard lately what the status on those two tax issues is.

Permalink Reply by Paul Martinelli on November 12, 2013 at 10:58am

....dragging this over from comments....to a discussion.....

 

So is Sierra the partner Envervest is looking for to drill the 20 wells in Tusc/Stark?

 

It sounds like Enervest doesn't want to put up the $$$$ to fund the drilling

 

I don't think Sierra has that deep of pockets.......$200M

 

Does either Sierra or Enervest have a vast amount of Horizontal shale drilling experience?

 

 

I'm guessing the hold up  may be the search for a 3rd partner.....one with experience and deep pockets to help share the cost.

Permalink Reply by Brent Laner on November 14, 2013 at 2:34pm

AEP?

Permalink Reply by Paul Martinelli on November 15, 2013 at 3:46am

...that be OK with me......

 

A. McClendon of AEP  is hot on the UTICA......I believe in him.

Permalink Reply by Dott on November 15, 2013 at 4:47am

But wasn't he part of the Chesapeake game of selling the gas to their own side companies for less and later getting top dollar? And paying the landowner less in royalties as well as taking massive deductions for "Market Enhancement"?

Permalink Reply by Paul Martinelli on November 15, 2013 at 4:52am

He was CEO   of CHK.

 

Regardless.....he left CHK  and lined up 1.7B  in funding and came right back to the Play.   I believe he knows exactly what the value is that we are sitting on.

 

And....."Market Enchancement"  can be in a lease from any G/O company.......signer beware!

 

 

I'm just saying the he has bet his whole reputation on the UTICA.....and own pocket money.

Permalink Reply by Brent Laner on January 13, 2014 at 2:35pm

And it's now 2014...and how many wells has Sierra drilled?

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