New to Gas and Oil


#21

My investigation continues. The result of our family meeting is that we’re seeking counsel from an oil&gas attorney in West Virginia, where the monthly “owner share” of production exceeds 8 million $, according to the production reports from the O&G company. (If my assumption is correct that the share is based on a 12.5% royalty, that makes one month’s production @ 66 million $ for all 9 fracking wells. Unfortunately, the recent lease shows no royalty figure, only “continuation of previous royalty structure”.) As a novice, I have no idea whether those production numbers are comparatively high-- but I suspect that they are. At some point, I will also be visiting West Virginia in pursuit of these rights. Watch out, oil companies-- Here I Come. (The oil companies involved are Antero, CNX, and Alliance. I’ve discovered that the company which produced for most of the life (1899-2012) of the shallow wells was Dominion.)


#22

And, BTW, thanks to Ms. Mosley, I have exploited all online county courthouse records, including the original deeds (1899-1922), tax records, etc.


#23

Glad it helped. The more of us who know about these resources, the better we can help the next one.


#24

I know Consol came from Dominion, and Dominion came from Consolidated Natural Gas. Not sure how your original lease was related to Consolidated…


#25

Me, neither-- yet. I’m told CNX/Consol bought out all Dominion’s exploration interests in 2014, a business Dominion is no longer in (they retain their pipeline interests). Sounds like Consolidated came before Dominion, but-- surely “Consolidated Natural Gas” is somehow related to “Consol”. One business practice I’m aware of is companies “going out of business” (either through bankruptcy or by de-incorporating), but then re-incorporating, with the same people and facilities-- under another name. A way of denying fiduciary or legal responsibilities for the previous version. And of course there are always buyouts, mergers, takeovers-- yeesh. (Not saying any of this is the case with Consolidated/Dominion/Consol/CNX, because I don’t know. But, I will know, before too long.)


#26

I found this link to the history of Consolidated Natural Gas Have you been able to trace the lease from the name you mentioned earlier to Dominion?


#27

just seeing this; been away.

Thanks-- that’s valuable information. No, we’re still fielding offers from attorneys, but I hope by next week we move forward. We’ll (the atty. or abstractor) then be working to find out if John Rockefeller got all our money. (Oddly my grandfather and father both worked for Standard Oil for many years.)