East Ohio Oil and Gas LLC

I’m bringing this topic over from the shaleforum. Does anyone know the intentions of these guys? As of yesterday they have leased over 10,000 acres(April 2017- present) in Knox county. Some info from shaleforum members include: they are paying $100/acre for all strata and East Ohio Oil and Gas is a shell company for Western Land Services. Any other information is appreciated.

http://www.recorder.co.knox.oh.us/

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Permalink Reply by Gary Castellini on December 17, 2017 at 9:57am

The guy interviewed from Cabot Oil and Gas never mentioned the Utica Shale. I doubt they are looking at the Utica. I will say that they are paying $100/ acre so that’s cheap if they are looking at the Utica and extremely expensive for shallow drilling but it seems they are really collecting some serious acreage. Does anyone know if this consistent with the way Cabot entered Susquehanna County over a decade ago?

Permalink Reply by Bluejack Farms on December 18, 2017 at 9:06am
Permalink Reply by James Vanderink on December 18, 2017 at 12:19pm

https://www.kallanishenergy.com/2017/12/18/could-cabot-be-eyeing-oh...

i would like to hear what Dan Plumly of Critchfield Critchfield and Johnston has to elaborate on the topic. The Wooster based law firm opened a Mt Vernon office when Devon Energy came to the county(Knox) back in 2011. 

Permalink Reply by Gary Castellini on December 18, 2017 at 1:44pm

Ok looks like they are spending some bucks on very very very shallow Utica. I hope it works out for them.

Permalink Reply by Butchc on December 18, 2017 at 2:58pm

Interesting information,  I am signed up. Be interesting how long it takes then to record it. Land man said 8-10 weeks is the norm

Permalink Reply by James Vanderink on December 18, 2017 at 11:41pm

Well Butch you got $95 more per acre than I did back in 2006 for my acreage in Morgan Twsp. The local drilling company put in a mediocre Clinton well then sold my Utica rights to Devon for reportably $2500/acre. So see you’re way ahead of me. Take the $. Have a great Christmas. 

J

Permalink Reply by Butchc on December 19, 2017 at 2:01am

Well James you have lots of company in that too. An acquaintance of mine leased his 150 acres to Knox Energy for  $10 per each just before all this activity fired up with East Ohio Oil n Gas.  He isnt real happy right now as you might guess. I wonder how many of those cheap Knox Energy leases will end up being sold to Cabot? Might save them, I heard they are about done for?

Permalink Reply by James Vanderink on December 19, 2017 at 4:09am

Really? I didn’t hear that about KE. That’s too bad. Hate to hear that. 

Permalink Reply by Bluejack Farms on December 19, 2017 at 2:12pm

Just shows how things change. 6 years ago Knox was drilling a new well every 20-25 Days and now I don’t think they have done anything for over a year. I would not doubt they go under. On a similar note I heard today that NGO has sold all it wells in Coshocton and Tuscarawas. 

Permalink Reply by James Vanderink on December 20, 2017 at 4:07am


Columbus, OH - December 2017 - NGO Development Corporation, Inc., a subsidiary of Licking Rural Electrification, Inc. d/b/a The Energy Cooperative ("NGO" or the "Company") announced that they have entered into a definitive agreement with Diversified Gas & Oil PLC ("Diversified"; AIM: DGOC) to sell certain conventional producing assets in Ohio. The transaction closed November 30, 2017. The transaction was led by Andy Hays and Jason Stevens at Copper Run.

The package includes 550 wells producing approximately 1.3 MMcfe/d net natural gas, with the core production located in Coshocton and Tuscarawas Counties in Ohio. The sale also includes the related gathering systems and conventional acreage.

Todd Ware, President and CEO of NGO, stated: "This transaction further executed The Energy Cooperative's commitment to improve its future financial position, while allowing it to focus on its core assets. This continued focus will strengthen the Cooperative's mission to provide safe, reliable and affordable energy to its members in Central Ohio."

Jason Stevens, Director of Energy Advisory at Copper Run, adds "The advent of the Utica shale has changed the economics for Ohio producers. We are pleased to help The Energy Cooperative realize its strategic goals."

Im not sure how to interpret the last to sentences. 

Permalink Reply by Bluejack Farms on December 21, 2017 at 12:31am

NGO is shedding its conventional assets to concentrate on its unconventional assets???

I heard them say a couple years ago that horizontal drilling was the future. 

Permalink Reply by Blueflame_02 on December 21, 2017 at 6:40am

As a side note, Geopetro is currently testing in nearby Wayne County for the Utica/Point Pleasant. Could help Cabot confirm their entry into Ashland 

https://static1.squarespace.com/static/580024b12994ca4ae4e75857/t/5...

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