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Krugliak, Wilkins, Griffiths & Dougherty Co., L.P.A. presents
Utica Journal Discoveries - An Electronic Oil and Gas Newsletter
With offices located in the heart of the Utica Shale play in
Canton, Akron, Alliance, New Philadelphia & Sugarcreek, Ohio
Editors Gregory W. Watts, Esq. and Ryan W. Reaves, Esq.
Ohio Supreme Court agrees to answer certified questions in Buell v. Chesapeake
Ohio Supreme Court
The Ohio Supreme Court accepted to hear a certification of state law questions from the United States District Court for the Southern District of Ohio in the case of Buell v. Chesapeake Exploration, L.L.C., a case which involves interpretation of the Ohio Dormant Mineral Act in effect from March 22, 1992 to June 30, 2006. The Ohio Supreme Court will answer the two following certified questions: "Is the recorded lease of a severed subsurface mineral estate a title transaction under the ODMA, Ohio Revised Code 5301.56(5)(3)(a)? (2) Is the expiration of a recorded lease and the reversion of the rights granted under that lease a title transaction that restarts the twenty-year forfeiture clock under the ODMA at the time of the reversion?"
Fifth District Court of Appeals orders MWCD to disclose residential lease records
Fifth District Court of Appeals
The Fifth District Court of Appeals has ruled the Muskingum Watershed Conservancy District ("MWCD") is required to release to opponents of water sales for oil and gas development the names and addresses of individuals with residential or commercial leases covering MWCD property. The Court found such information to be a "public record," as defined by Ohio Revised Code 149.43(A)(1), and therefore subject to disclosure upon request. The Court further awarded to the Realtor statutory damages in the amount of $100 and the ability to recover attorney's fees (in an amount to be determined by the Court at a later date).
Halcon sale still probable, though work remains, CEO says
Reuters
"More work needs to be done to develop Halcón Resources Corp's (NYSE: HK) oil and natural gas assets before the company can be sold, Chief Executive Floyd Wilson . . .. 'Our model is still to look for a sale at some point in the future,' . . . Acknowledging the misstep [in the location of Halcón's reported 142,000 net leasehold acres in the Utica], Wilson said the northern Utica wells 'were average' and Halcón is now looking at the potential of its holdings in the southern part of the Utica. 'I'm not saying the Utica is dead, but we have other things that are doing better,' he said. 'It's been a strategic shift in that, as always is the case in oil and gas, you spend money where you get the best returns.'"
Rex Energy Announces Warrior North Well Results
Rex Energy Corporation
Rex Energy Corporation (Nasdaq: REXX) today announced 5-day sales rates from its three-well Ocel pad in the company's Warrior North Prospect. The three-well Ocel pad, located in Carroll County, Ohio, was placed into sales from its resting period at an average five-day sales rate per well (excluding downtime) of 1,472 Boe/d (48% NGLs, 44% gas, 8% condensate) assuming full ethane recovery and an average natural gas shrink of 18%. The three wells produced with an average casing pressure of 1,560 psi during the five-day sales period on an average 26/64 inch choke.
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