Johnson County, KY oil & gas discussion group. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news. If you are being approached to lease your rights join the group.
THE ROME TROUGH----THE GIANT OIL AND GAS PLAY
The Rome Tough is an ancient formation that is in Eastern Kentucky. IT has 16 different oil and gas plays in the formation at different depths. The potential here is very, very big. Read up on the Rome Trough and see why you just may be "giving away the farm" when you sign that lease for such a low bonus amount and percentage!
"ABARTA Oil & Gas is committed to continue developing opportunities in the Marcellus and Utica shales, but what is the next new shale play? ABARTA is currently working on a potential new shale play in Kentucky called the Rogersville shale. This is a brand new shale that has never produced commercial gas, but information from some old deep test wells indicate potential for vast reserves at great depths. The Rogersville shale is even older and deeper than the Marcellus or Utica shales and is Cambrian age (+500 million years). This makes the potential shale play extremely risky and expensive, but the rewards could also be extreme! The Rogersville shale play is located in a deep, narrow sub basin in eastern Kentucky called the Rome Trough. Drilling depths will likely be about 2 miles deep! It is anticipated that this deeper basin has preserved organic rich shales and a resource play can be established. "
THE LEASE
Know what a good lease looks like before you sign that one mailed to you!
Below is a link to the ALOV website. It is one of the better lease contracts for landowners and oil and gas rights. There are over 200,000 acres leased using this lease in Ohio, by the Associated Landowners of the Ohio Valley. The Lease is at the bottom of the page. S.U.R.E. LEASE 2012. Read this lease and see how it compares to the one you have. You just might be stunned.
Be aware of what a good lease looks like!!!
For a detailed description of the 16 oil and gas plays in the Rome Trough, do a search for the below document. See page 11, Paragraph 3.4 Appalachian Basin Province in Eastern Kentucky for a brief description of the oil and gas plays.
KENTUCKY REASONABLY FORESEEABLE
DEVELOPMENT SCENARIO
FOR FLUID MINERALS
Prepared for:
U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT
EASTERN STATES
JACKSON FIELD OFFICE
411 Briarwood Drive, Suite 404
Jackson, MS 39206
10 Things to do and 10 common mistakes
http://www.mineralweb.com/owners-guide/lease-proposals/oil-and-gas-leasing-top-10-things-to-do/
Kentucky revised statutes covering oil and gas. Not all the rules, just some of them.
http://www.lrc.ky.gov/statutes/chapter.aspx?id=38944
Kentucky Geological Survey University of Kentucky
http://kgs.uky.edu/kgsweb/DataSearching/oilsearch.asp
Database of research data that is searchable. Data, maps, permits, production and more
Kentucky Energy and Enviro. Dept. for Natural Resources
http://oilandgas.ky.gov/Pages/Welcome.aspx
Active operator listing,Permit Lists,Production Reports,Spud Repots, Transfer Reports are under resources tab. All are xl spreadsheets