"Hilcorp and Dutch Shell"

It was reported that Hilcorp assigned a significant amount of leases to Shell in PA.  Many of us landowners involved in leasing with these companies always speculated that Shell and Hilcorp were "buddies."  Shell never seemed to aggressively go head to head with Hilcorp in the obvious wet gas zone.  Hilcorp should be flushed with cash again, they are lead in the midstream infrastructure this far up north in the Utica, they have many permits on the northeastern part of the wet gas zone and they move fast.  Hilcorp like Gulfport maybe the mobile company that shows all of us what really lies under the northern part of the Utica.

 

My southern Utica friends, my bet is Hilcorp production up here will show us all that the Utica will give up an equal if not more wet gas as has the Gulfport wells.  The only wild card is that Gulfport had to show their cards since the stockholders demanded it, Hilcorp is private and we can only watch them dance. 

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Permalink Reply by Glenn Armstrong on February 10, 2013 at 9:10pm

You guys aren't really too far from us. I hope the progress is contageous and spreads east! Shell picked off a couple of Hilcorp parcels near and bordering me recently , so I'm hoping for an interesting year. Looks like Unit building time! Let's hope this is our year!

Permalink Reply by Fang F Fang on February 10, 2013 at 9:34pm

Glenn,

This is the year for your area. Shell and Hilcorp have spent millions on lease acquisitions, they need to recoup these costs. Hilcorp already has.

Permalink Reply by Chris Crawley on February 11, 2013 at 5:56am

Jim, Glenn, Fang..

I did some research on the parcels that Hilcorp transferred to Co-exprise..This is really odd, none of the parcels are contiguious, they range in areas of 10 - 90 acres, and they are in townships that were NOT a part of the larger Hilcorp assignment to Shell???..Individually they aren't large enough to drill, so the only benefit to Co-exprise will be to become a joint venture partner with Hilcorp??

Again as I said,  this is really, really odd...Your thoughts????

Permalink Reply by Glenn Armstrong on February 16, 2013 at 12:54pm

Chris,

I see Swepi (Shell) just assigned 100 parcels (all Pulaski Twp.) to Hilcorp on Feb.13.

I wonder if they gel with the Co-ex assignment from Hilcorp?

Permalink Reply by ralph monico on March 6, 2013 at 7:18pm

The Lawrence County Recorder of Deeds actually shows a swap of approximately 400 leases.  You can research the website and find the assignment documents. 

Permalink Reply by Glenn Armstrong on March 6, 2013 at 8:10pm

Ralph,

01/07/13: Hilcorp assigns leases of 400 parcels to Swepi LP (Shell).

02/13/13 Swepi LP (Shell) assigns leases of 100 parcels to Hilcorp (all in Pulaski twp.)

1/18/13 Hilcorp assigned leases of 5 parcels to Co Exprise Inc. who represented many landowners in negotiations with Hilcorp in Lawrence County previously.

This information is public knowledge as recorded with the County Recorder , and as you said , accessible on their website.

Permalink Reply by Glenn Armstrong on March 26, 2013 at 8:38pm

Chris,

Co exprise is up to 89 parcels assigned to them now. 3/22 and 3/25 saw alot of recording of this fact. Mostly Pulaski with a little Mahoning and North Beaver that is bordering Mahoning Twp. thrown in. I would wager a little more contiguious this time around........? Hmmmmm.

Permalink Reply by Glenn Armstrong on February 10, 2013 at 10:09pm
Thanks fang! Very encouraging words! My gut tells me you are right. Thanks again.
Permalink Reply by Ron Eiselstein on February 16, 2013 at 9:13pm

Hilcorp I bet will be the Gulfport of the northern Utica, maybe more, they own the midstream infrastructure up here.

Permalink Reply by 8pointer on March 4, 2013 at 10:18pm

Regarding Hilcorp/NiSource Joint Venture-  According to NiSource's 2012 Q4 conference call with investors NiSource CEO indicates the test wells are:

 NGLs, high gas approx 1200 BTU, and approx 6 GPM

do online search to read full excerpt.

Permalink Reply by Ron Eiselstein on March 5, 2013 at 7:44am

Great update!

Permalink Reply by Ragnars Repo on March 5, 2013 at 8:05am
Can you explain 6 GPM for the landowner? Does this have to do with the content of liquifiable contents of the gas?

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