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Interesting--what part of Ohio? We have some farm land in the Scio area, which is just getting started on the shale gas boom. We had no idea when we bought it 1
by cpr 14y ago
Interesting--what part of Ohio? We have some farm land in the Scio area, which is just getting started on the shale gas boom. We had no idea when we bought it 14 years ago what was going to happen...
- ssharp 14y agoI currently live in western Mahoning County. Lots of people around here either inherited or cheaply purchased large plots of current or old farmland. Some are getting very nice returns on those purchases considering some of the advance money on the leases represent several multiples of the original purchase price. My understanding is that wells further south where your property is are already up, running, and producing. In my area, we have one or two wells running and lots of testing being done and permits being drawn.
- cpr 14y agoYes, the first well in our area (the nationally-known Buell well in the Scio area, about 2 miles from our place) has produced some of the most amazing figures for oil plus wet gas ever seen. Other early wells are also turning in highly encouraging results. But you never know if they're massaging/optimizing the reported results to encourage investors or if they're for real. We'll see...