Big natural gas discovery being kept quiet
Posted in the Kalkaska Forum
Since: Mar 10
#1 Mar 20, 2010
Using advances in technology, a company is betting big on utica shale gas in Michigan. Utica shale elsewhere is taking off.(Google: Quebec utica shale gusher) In Michigan, the utica shale test well in Sec 3 Pioneer Township Missaukee County is over 9000 feet deep, and at the bottom of the hole is a one-mile long horizontal dogleg. In mid March they started burning off a huge flare to test the well. They are keeping it very quiet.
In 2008 they leased 192,000 acres of state-owned oil and gas rights for just over $7million.(Google: Detroit Free Press DNR gas lease auction 2008). Now they seek to buy 95,000 more acres at the DNR's auction on May 4.(Google DNR map gas lease auction nominations)
It is likely several other companies will compete at the May 4 sale.
The rocks they are drilling are widespread over much of Michigan. This means we should expect a rush of landmen trying to snatch up leases on private lands. Whatever you do, don't sign any lease until after the May 4 auction. After all, the big boys will be bidding against each other to lease land from the state. Wouldn't you like to know how high they will go before you lease your own?
Before leasing, learn from other landowners, who founded a website a few years ago in PA where they have "marcellus shale".
They will probably set up a Michigan page soon. Meanwhile, they have a LOT of information applicable to Michigan.
#2 Mar 23, 2010
So they can lease land at 36 dollars per acre?
Try that as a citizen.
#3 Mar 23, 2010
Citizens have as much right to bid at the auction as international corps. Google (Michigan DNR 2010 oil gas lease auction) or if it posts in this comment, try this link
In fact, private citizens would be smart to consider bidding since they state might own the oil/gas beneath them or next door. Follow the links on that page to find maps and look up your property!
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