Halcon leasing in eastern Portage County?

According to Halcon's webcast this morning, they plan to focus all of their Utica drilling in southwest Trumbull County and northern Mahoning County.  Has anyone been approached by Halcon in east or southeast Portage County?

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Permalink Reply by Depolarized Farmer on November 6, 2013 at 10:25pm

Haven't heard that Halcon is leasing in Portage yet, but that would make sense at least in the SE part of the county.  TrackerLario is doing a lot of leasing right now in Palmyra & Paris Townships.  They use a landmen agency called "Lone Tree Energy" to handle the paperwork.  They've been trying to fly under the radar screen so far.  It will be interesting to see how high their offers will go to fill in all the gaps in the acreage they bought earlier from Chesapeake.

Permalink Reply by Happy Dad on November 7, 2013 at 5:00pm

What is Tracker offering?  Chesapeake paid between $2,250 to $5,800 for leases around that area.

Permalink Reply by Depolarized Farmer on November 8, 2013 at 10:02am

Rubbing my eyes...   Fang, is this correct, or did you intend to type "$1500 per acre".  If they were offering $15,000 per acre, I would think that would be making headlines everywhere.

 

In any event, I expect that Tracker will probably end up somewhere in the middle between $1500 and $15,000.  I read that Halcon paid over $6,000 /acre for its rights next door in Trumbull.

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on November 8, 2013 at 11:30am

Somebody somewhere will have to actually drill a well and release data before Tracker ponies up real money.  The only data point (that is public) is not a good one and there are far too many questions unanswered right now.  I trust Tracker about as much as I trust this president, so take that for what it's worth.

Permalink Reply by Depolarized Farmer on November 8, 2013 at 11:37am

Does anybody know much about Tracker?  Reputation?  Experience?  Depth of pockets?

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on November 8, 2013 at 12:45pm

Not a great company from what I've experienced.  Kind of flighty and I assume they bought in to build a position and flip it.  Depth of pockets is pretty shallow as far as I can tell, but you never know where money comes from.  

Permalink Reply by Depolarized Farmer on November 8, 2013 at 6:09pm

rats.

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