I was told last week they are on schedule for making payment. Our payment is due the first week of October, so I hope it is true. Please post any new information. I have heard they are planning at least two wells by the end of the year.
Thanks I saw on another thread here that a well pad was being prepared. Their website has a presentation under investor relations indicating that Venango Co. and Trumbull Co. Ohio will develop at the same time.
Halcon is preparing a site just out of polk on valley road, I stopped and talked to the crew a couple times, they said the rig will be moving in within a couple weeks. Its quite a site they cleared, interesting to see how they do things.
Thanks James, I really appreciate the information, have they done water testing or any other prep work for getting a permit that you are aware of?
I didnt ask them any of that, Im guessing that work was probably done months ago since the rig is getting ready to move in in a few weeks. I stopped to get the landmans number since my property is only about 1.5 miles from the site. They are still leasing so thats a good thing for people in Venango county.
Yes it is a good thing . I sent you a message!
Anything new in either county?
Robert: To bring this thread current, Halcon is not to my knowledge "leasing" any more property in Venango County since they decided to walk away from paying bonuses on thousands of acres of "leased properties" in Mercer and Venango Counties perhaps 4-6 weeks ago. Halcon took the position that the documents which landowners signed were "provisional leases" or "options to lease" and that it could decide to walk away at any time during the so-called "due diligence" period from "leases" on any particular property. It is still possible that Halcon will change its mind and pay everyone, since the time for payment of bonus money has not yet arrived. Because various landowners signed "leases" at different times, I believe they are not due to be paid until between October 18 and perhaps December 1, 2012. My latest information from several sources is that Halcon is not currently "leasing" any property, even properties that are adjacent to or near the lands where they hold permits to drill In Venango County. If anyone is "leasing" to Halcon, then I hope landowners are signing real "leases" and not "provisional leases" or "options to lease" which might allow Halcon to walk away from less desirable properties as they did or are attempting to do in Mercer and Venango Counties. I reiterate my hope that all landowners that signed documents with Halcon ultimately get paid. Since I have two cousins who are a part of M&P/CXenergy's Mount Jackson 4 group, I will happily post if and when they get paid by Halcon. Unfortunately, their land is located in one of the townships which Halcon has said that they are not going to pay bonus money. It would be great news to hear that Halcon is again leasing in Venango County. It would be even better to hear that they are offering landowners real leases such that Halcon's obligation to pay is conditioned only upon the landowner having good title. It would be the best news if Halcon changed its mind and decided to pay everyone who signed documents in favor of Halcon. The term "documents" is used to include "leases", provisional leases" and "options to lease" since it may take a court to decide if landowners in Mercer County have any remedy when the time for Halcon expires to make payment to the landowners. I think this response brings this thread up to date.
I have reason to believe that Halcon is about to actually drill well on Allam property in Venango County. Hope posters who live in western Venango County may be able to keep the rest of us up to date with what's going on there with Halcon or any other O&G companies who may being doing something in that area of the Utica Shale.
a friend of mine told me a lot trucks were hauling stone up by polk this past week. a halcon pad he was told.
I have a source who says there is a hugh mound of rock on the Allam site. Maybe that is where the rock that he saw came from and maybe it is to be used to construct a well pad? I am very poorly versed on any of the technological processes concerning the drilling of oil and gas. I did hear that a rig was on site but that except for a guy in the guard shack there was no one around, and no activity at the Allam site on Sunday. Is the same rig used to do the vertical and horizontal drilling? Hope the technical people can weigh in on this and explain what is the normal procedure. Of course things are always somewhat mysterious when Halcon is involved.