Verify formation properties and thickness?
Are they just trying to get more acreage HBP before the leases expire? I had heard that they weren't going to do that anymore. That would be a real shame. And are they just sampling cores from the Rhinestreet and Marcellus while they just drill a Clinton well to get them held? I noticed the acreage on each was around 60 acres so this must be vertical wells.
From a business point of view it is a smart move by Eclipse. They want to hold that property because it is very close to the Dollison well which Antero permitted in July 2013. Near Whiskey Run golf course.
Searcherone: Yep, it's a hot area and a good move by Eclipse to tie it up, but they will need to hold more than the ~ 60 acres (or the whole farm, depending on lease) to eventually drill a Utica (or horizontal Marcellus) well. Maybe the surrounding land is already HBP under old Oxford leases and this is the missing piece?
Hiker: Perhaps they do control other surrounding acreage; perhaps they are testing the Marcellus and/or Rhinestreet here; perhaps they are playing a card to make another company work with them; perhaps they are preparing to sell off some of their acreage; whatever the purpose Eclipse thinks it will benefit them and and time tells what stripped tigers do. IMHO.
I agree with you. I am fortunate my lease expired early in 2011, just months before things started to get hot. A lot of landowners in the area weren't lucky though. James, my property is between Shannon Run and Barker road right on the Guernsey/Belmont county line. Are you close by? If there is anything to be hopeful of it is that Eclipse doesn't have enough time or resources to drill everyone before their leases expire. Maybe you'll get lucky.
David you are very fortunate.
And probably Eclipse doesn't have time and money to drill all before they expire. However, that doesn't mean they won't go after prime locations and/or sell leases to or do some joint ventures with other companies. IMHO Eclipse has more options than most landowners want to consider.
James, I, too, am a landowner and yes, those kind of things are hard to take.
Eclipse is showing their stripes and unfortunately tigers don't change their stripes. According to the Eclipse website, they hired July 1, 2013 Marty L. Byrd as Vice President of Land. He had been VP of Land with Eastern Division---Appalachian Basin for Chesapeake Energy since 2006. So time will tell what Mr. Byrd's thirty years of experience will bring to Eclipse lease holders.
Guess as well as following the play one needs to follow the players and who they are playing for and what teams they have been on before.