Exxon Buys 13,200 Acres of Utica Shale Leases in Ohio
Exxon Mobil, through it’s subsidiary XTO Energy, recently acquired just over 13,200 acres of Utica Shale leases from Beck Energy Corp. in Monroe County, Ohio. A copy of the Bill of Sale, dated Dec. 20, 2011, is embedded below, containing a list of all the parcels in the transaction. Terms of the purchase are not disclosed in the document. Neither Exxon Mobil nor Beck Energy have disclosed the price and terms of the deal.
Exxon Mobil has acquired about 13,200 acres in leases in Monroe County as the oil and natural gas giant continues expanding its Utica Shale footprint.
Documents filed in the Monroe County Recorder’s Office on Dec. 21 show that Ravenna, Ohio-based Beck Energy Corp. assigned roughly 150 individual leases to Texas-based Exxon and the company’s natural gas subsidiary, XTO Energy.
"XTO has a leasehold in the area and (is) in the process of evaluating this acreage to determine its value," said Jeffrey Neu, public and government affairs adviser for XTO. "We continuously evaluate and pursue potentially attractive opportunities in all regions of the United States to optimize the corporation’s portfolio."
Most of the Monroe County leases were originally signed from 2001 to 2006, with the oldest dating back to 1989. The majority feature acreage in the townships of Benton, Center, Jackson, Perry and Wayne. The parcels range in size from as small as 0.24 acres to as large as 597 acres.
Exxon/XTO now holds the 25.5-acre lease signed by the Switzerland of Ohio Local Board of Education on Sept. 1, 2006; the 36.2-acre lease signed by Monroe County commissioners on July 27, 2006; the 140-acre lease of the Monroe County Airport Authority signed on April 27, 2006; and the 49 acres of Monroe County Agricultural Society leases signed on July 27, 2006.
Beck Energy recently drilled what it termed a "test well" on the south side of Interstate 70 between St. Clairsville and Morristown. Owner Raymond Beck said the Monroe County landowners should be glad to now have deals with Exxon.
"We feel it is a good opportunity for the landowners because they are going to drill," he said.*
A “hat tip” and big thank you to MDN reader Greg McDonald for forwarding us a copy of the Bill of Sale, and for alerting us to this recent deal.
*The Intelligencer/Wheeling News-Register (Jan 8, 2012) – Exxon Gets 13,200 Acres