Replies to This Discussion

Permalink Reply by Jack Young on January 15, 2015 at 9:19am

Dominion operates the Harrison Storage Field - I'd contact them to see if they believe you're in their buffer zone. That's the quickest way to find out.

Permalink Reply by Janice L. Hancharick on January 15, 2015 at 4:42pm

Realtor Joe, there are multiple reasons that Dominion is putting its Utica on the market.  Its a way to keep $$$ money moving into the expanding pipeline industry while drillers and the production side are having to cool their jets thanks to OPEC. Also when Dominion was focused on expanding the buffer zone to 2,000 ', ... more than one major O&G company took them to court claiming it was simply a play to cheaply pump up their AC count. Ultra and other major O&G operators wanted their fair share of Utica wealth too.  The rush for all this action follows on the heals of the news ... actually OLD news re-visited .... many holders of storage leases never understood that there's a strong possibility they may be able to lease their UTICA shale.  Old storage leases didn't mention Marcellus or Utica.  Back in the day the language would likely refer to Oriskany limits, and Utica is below that!

The other company in this area holding pipeline leases is also attempting to wrangle a larger buffer zone ... another leasing decision for locals to consider. The pay-out will be small for individuals  signing that lease, because the "zone" will likely be flipped to its sister drilling company.  It becomes a win-win but not for the landholder.

**At this rate OPEC is making a lot of enemies across the world because numerous countries have their total national economies wrapped up in O&G.  Cheap gas for our vehicles is one thing, but how much tax revenue does it take out of our own gov't's pocket?  That tax money has to come from some source ... not gasoline? then from where or WHOM?

When you share your thoughts remind listeners they need to think globally before they scale down to act locally.

Buffer zone concerns are important on the first rung of the ladder, but note how the picture can change as the climb continues.

Drilling companies are taking it easy right now but not willingly.   Related service industries are even harder hit.  Anyone willing to take a pitiful pay-out while prices and solid clauses are at their lowest  will be providing BIG SMILES for years to come, but they won't be looking back in the mirror!

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