The man from Purple Land management keeps calling, since Feburary, and presenting the same low ball offer for Ascent ($500.00 an acre).
My brother responds with the same answer--- no thank you.
He calls several times a month so Ascent must still be interested in our minerals.
Our lease is up in 3 months, so, either Ascent will cave in and renew our original lease or we will be released from them.
Time will tell.
Hopefully another o/g company will pick us up, with a decent offer, if Ascent doesn't cooperate.
Anyone else with Ascent heard anything?
Well, that's all I have to share.
Nothing is happening, end of story.......... Oil will have to go up to at least S60.00, and stay there, for drilling to be profitable. I heard a rumor that the Saudi's are going to turn down the spout, but who can trust their word? Don't sell your minerals, hold them like a saving account. They aren't worth anything now anyway. This bust hit everyone unawares, including the oil companies. Figure the boom will come again, in 5 years or so. So just tuck those minerals rights away, and don't spend money you don't have. I've spoken to several people who are getting royalties, and they all say they are getting about a fifth of their original checks.Nothing we can do, except live our lives like we use to. Actually, it's kind of nice not having all the truck traffic and no garbage along the roads.........
Thank you for the information it does look like things may be starting to pick up. Do you know anything about pipeline development or new pads getting ready to be put in?
Right now, it's mostly pipeline activity, as far as final surveying and companies going around to calculate their bids: from Betts (been drilled, but AFAIK not fracked) to the Donna, and from Troyer to the Donna. Donna started producing (so I've been told) Jan. 6, 2017. The gas is heading north from there. The drill rig from Betts went to Troyer. That's all I know!
They are doing the final surveys, marking ROW width, work areas, (temp) access roads... and plenty of trucks driving around hauling estimators: they opened acceptance of bids on 1/6/17. I'd expect to be hearing which company won said bid any time now, and work likely to start soon after.
Thank you for the information and I am following your situation with the vertical well with interest. Have you heard anything about more wells to be drilled in Londonderry Twp. in the future? Thanks.
They've completed the Troyer and Betts pipelines (except the reclamation) and one of the guys told me they're going to Belmont Cty. next. Haven't heard anything else near Londonderry township.
Have you heard anything new about drilling in the area my minerals are located?
Section 21, Londonderry Twp.
East of Skullfork Rd.
North of Rt. 22
My minerals are on the K&R Conservation LLC., land.
Signed, second lease, with Ascent six months ago but haven't heard anything from them since.
Any rumors going around about Ascent or any drilling, period?
If anyone else reading this knows anything, would appreciate the "news".
I live out of state.
Thanks Bo and wishing you a Happy Easter!
I've only been hearing about the pipeline work going on in that area. No drilling that I know of. Havent been traveling thru there recently. Carrizo people are saying they need oil to reach $72. before they drill any more wells in our area. Ascent is drilling, so you may see them in Londonderry area before anyone else. They just drilled and completed a well in the oil window;Old Washington,ohio. So that's a good sign. There are 3/4 huge pipeline projects starting,or started to get the oil&gas out of here to other parts of the country. The Rover,the Utopia,to name a couple.
Your information sounds promising!
Sounds like there is something moving, even if it is not in your area or mine, at this time.
We must be next! LOL!
Did you get signed for a second lease from Ascent, if you choose to say?
I believe, if my memory serves me right, you said once we are both(mineral rights) in the same general area.
I would appreciated any updates, if anything starts up with Ascent.
Thanks much for this update!
Enjoy your Easter!