The area's leading online source for news!
Louisa-Lawrence Co, KY

In God We Trust - Established 2008

Menu

OIL/GAS BUYING FLURRY!

LOUISA, Ky. -- (DATE: 2/11/17) --As first reported several weeks ago the Rogersville Shale operations in gas and oil rich Lawrence County are a hot item on the market these days. In fact Lawrence may in the center of the richest find in recent history.

So look out it you are an oil and/or gas owner, property owner or heir, the rush to buy you out is fierce.

The Lazer ran two stories concerning the operation near Cherryville in Lawrence County.

A representative from oil and gas owners syndicate NARO, Dick Wilson explained the situation in a letter.

"...There have been several wells already drilled in Lawrence Ct . and one in Johnson Ct. at an estimated cost in the range of $50 million. A Rogersville well in your area would cost more than $10 million to drill."

"...In your area Cimarex Energy is developing a deep Rogersville well just South of Louisa their second in Lawrence Ct KY..."

The gas exploration equipment has been drilling for at least four months near a former gas station at Walbridge.The gas exploration equipment has been drilling for at least four months near a former gas station at Walbridge.

Here is a public announcement from:

Michael T. Hogan

Re: The Rogersville Shale and your land rights

Citizens of Lawrence County,

As many of you are already aware, our area of the country lies above a formation known as the Rogersville Shale.  The Rogersville Shale lies in a deep, narrow section of the Appalachian Basin running beneath eastern Kentucky called the Roman Trough.  Empirical data indicate the potential for vast reserves that could be comparable to the Marcellus Shale, and for years there has been significant commercial interest in extracting deepwell oil and gas from this region. 

In the past, the economic viability of developing these resources has been hampered both by the depth of the reserves, and by the regulatory environment.  Fortunately, recent political changes and the development of unconventional drilling techniques suggest that the potential of these reserves may finally be realized.  Land records from Lawrence County and the surrounding counties reveal a strong interest in acquiring subsurface rights in this area.  The oil & gas industry thinks the Rogersville Shale could be very profitable.

Be aware that you may be approached about selling or leasing your subsurface rights.  You might be contacted by an established gas & oil company, or by a land agent representing a previously unknown development company with no track record or history.   They will present you with an offer in the form of a long agreement comprising several pages of fine print.  These agreements are drafted by the purchasers to include terms and conditions favorable to them, and the ramifications of agreeing might not become clear to you, the landowner, until it is too late.  Once you accept, you are bound by the terms of that agreement.   

I would advise anyone, before accepting any offer, to have that offer reviewed by an attorney experienced in this field.  An attorney can advise you about the extent and nature of your subsurface rights, the legal and tax implications of the agreement, the effect of the agreement on your surface rights, and any unfavorable terms such as arbitration or out-of-state venue selection clauses.  An experienced attorney can also ensure that any offer you do accept is fair, and negotiate on your behalf if necessary. 

Sincerely,

Michael T. Hogan

Lawrence County Attorney

 

Comments  

0 #10 citizen 2017-02-19 17:54
The change in politics is referring to the newly elected president who has vowed to help the cause. Unfortunately i think we are about to see the impeachment of Donald Trump, and we are unsure what position the vice president will take on this issue, so don't hold your breath. Im a Trump supporter, but if he doesn't get down to business and start governing this country and quit worrying about things that are of no interest to us and stop the constant twitter stuff, then we may never see this or the coal industry rebound.
Quote
0 #9 Big Bertha Louise 2017-02-16 15:43
Hogan is the County Attorney. It's part of his job to warn the citizens about issues like this. Someone needed to warn about the fine print. There are people who don't think about the negative side of contracts. Some cannot understand all that legal garbage. I say "thank you" to Hogan for the warning.
Quote
0 #8 Big Bertha Louise 2017-02-16 15:38
Quoting Citizen:
Quoting Big Bertha Louise:
I wish that I owned about 5000 acres in this county. I'd sell the timber, mineral rights, then the land itself and get outta Dodge. Eastern KY is so pathetic. I've been stuck in this hole all my life. I apologize to my children for raising them here.
That isn't so easy to do when you can't find a job paying enough to allow saving money. It takes money to move.

If you hate Eastern Kentucky so much why don't you move? Then you wont have to raise your kids here.
Quote
-2 #7 Citizen 2017-02-15 20:51
Quoting Big Bertha Louise:
I wish that I owned about 5000 acres in this county. I'd sell the timber, mineral rights, then the land itself and get outta Dodge. Eastern KY is so pathetic. I've been stuck in this hole all my life. I apologize to my children for raising them here.


If you hate Eastern Kentucky so much why don't you move? Then you wont have to raise your kids here.
Quote
+2 #6 Eric L 2017-02-14 14:20
Matt DeMarcus has been very helpful to us. He's a mineral rights attorney in Northern Kentucky, but he knows what's going on here in Eastern KY. It would be wise for anyone to get his advice before signing anything with a gas company. Here is his contact info:
http://www.kentuckypipelinelawyers.com/Who_We_Are.html
Quote
+2 #5 I wonder 2017-02-14 01:46
Would mr co atty review a contract free or is he looking for business
Quote
+2 #4 Like to know 2017-02-13 21:09
And around here "Who would be an attorney knowledgeable in this area of practice?" You?
Quote
+3 #3 Big Bertha Louise 2017-02-13 15:26
I wish that I owned about 5000 acres in this county. I'd sell the timber, mineral rights, then the land itself and get outta Dodge. Eastern KY is so pathetic. I've been stuck in this hole all my life. I apologize to my children for raising them here.
Quote
+2 #2 Peggy Cornett 2017-02-13 05:01
Check with an attorney before signing any agreement. Check with people in Harlan County, Ky. Gas company is pumping thousands of dollars of gas after charging well owners transportation the owners are receiving zero dollars and some are even told they owe the gas company! You still pay gas tax to the
state of Kentucky and income tax. We have two working wells on our property and we are one of the many that is receiving zero dollars and told we owe them over $1000.00! Beware!!
Quote
+1 #1 LOL 2017-02-11 19:12
Of course, that's more money for you.
Quote

Add comment

Security code
Refresh