Comment

Comment by ES on June 30, 2010 at 12:25pm

That makes total sense. They have no drilling plans, no way to get the gas to market and no one else is interested. The 2-3 years (though I'm leaning towards 2 not 3) gives them time to negotiate the pipeline rights, get the pipelines in, contact all of us that want to lease, and get some activity going to hold all the straight 5 year 2008 leases in the 3rd year. I'm sure they'd rather pay out at 2500$/15 than 5750/21 for all that acreage. It's just a theory, but its the theory that makes the best sense. The seismic they got last fall indicates the area is good, and they're just making future plans now. Laying out a 3 year game plan, so to speak. Patience grasshoppa. We have it, they want it, they will come. That being said, i'm still kicking myself for not just driving up to black walnut 'just in case' last fall too!! My large acreage neighbors both ahead of and behind me are now CHK, and...I...wait :)

Comment by Patrick Spillane on June 30, 2010 at 11:51am

We are in Newton Twp. and were members of the Wyoming County Land Owners Group. We weren't afforded the opportunity to sign in when that group signed with Chesapeake late last year but my direct neighbor did sign in. It's my understanding (after a conversation with Kristy Skiro from Chesapeake who's in their Towanda field office) that they don't have any immediate interest in Lackawanna County (I spoke to her in early May). I asked her to put some parameters around "immediate" and she said immediate/near future is in the 2-3 year time frame. She said that my neighbor and others that were a part of the Wyoming County Group were lucky because that group essentially said take all of us or none of us. Chesapeake signed everyone. We're definitely interested in signing a lease, but I haven't heard of anything concrete with regard to companies being interested in signing new leases on properties in Lackawanna County (for whatever reason).

Comment by ES on June 30, 2010 at 11:34am

I hear they are negotiating hard and heavy for pipeline rights over in the falls area. My theory is they are nearing a deal, and preparing to hit the ground running in the 4th year of those 2008 leases to hold them, when the pipelines will be in or nearly in. Scouting out possible well sites/pad areas now. But its just a theory.

Comment by Robin Fehrenbach Scala on June 30, 2010 at 11:31am

Then we have possibly two scenarios (at least).
Either Chesapeake is trying to unload more Marcellus leases and needed them to be recorded first or they are going to start drilling verticals to hold the properties by production. Or what?

Comment by ES on June 30, 2010 at 11:25am

Hey R. I hear those leases are actually being RE recorded to include addenda etc. One guy only had 3 of 8 pages recorded the first time. Still, something must be going on to bring it to their attention now. Also....check out the west abington leases. They were all done around the same time, some are straight 5 years no extension....and others are (ick) 7/7. Maybe they didn't want neighbors comparing notes at the time for that reason? Those straight 5 ones, the clock is ticking on. They have to get going or they'll just expire leaving some big parcels free to re-negotiate.

Comment by F. Emmett Kearney 111 on June 29, 2010 at 8:55am

That is odd.Only info i have is a recent conversation with Chesapeake(amased they took my call)the guy said they are doing siesmic tests in northern Lackawanna.no interest in southern Lacka. apparently.

Comment by Robin Fehrenbach Scala on June 29, 2010 at 8:22am

I have noticed many Chesapeake leases being recorded for Benton Twp this month. When you look at the documents, though, they are signed and dated over two years ago. Very strange, and I'm not sure why they would be recorded AGAIN, or only just recorded now.
There is also movement by other companies in the county.
If anyone knows why this is happening please fill us in. Thanks.

Comment by F. Emmett Kearney 111 on February 26, 2010 at 4:11pm

Thanks for the post.I've been chasing them without results.Hope is that their success will breed some interest by Chesapeake and perhaps others this year.Thanks again for the news.

Comment by Dave Lloyd on February 26, 2010 at 4:04pm

Listened to Exco 4th qtr conference call. They currently have 11 vertical wells in PA Marcellus and they said they plan to Horizontal drill 11. I assume that includes the Skyline CC well. They only plan on drilling 2 more wells in Marcellus in 2010. They plan on leasing 42,000 more acres more in Marcellus in 2010. Won't say specific areas. Said the biggest obstacle in Marcellus is the cost and implementation of pipelines. I keep saying Marcellus because they are heavy in Haynesville and another gas play. You can listen to conf call and look at a presentation with pictures on their website (www.northcoastenergy.com). Keep in mind this is a much smaller company than Cheasapeake.

Comment by Robin Fehrenbach Scala on November 24, 2009 at 11:29am

Leasing has been fairly quiet in the county lately.
Based upon quarterly reports of the O&G companies, all are increasing their budgets for marcellus leasing in 2010. In addition, more companies are joining the marcellus drilling party all the time.
So, we should start seeing a lot of activity in PA at the beginning of the year.

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