I have been out of touch since signing lease last year.....anyone have information on what's happening in Derry Township.....any plans for new wells?
Right now they have 1 rig up in Derry. I believe there are plans for 11 wells to be drilled this year. Yesterday I found out that WPX applied for permits for two more wells on the Skacel well pad.
From what I have heard they are planning on drilling on the Duralia, McBroom, and Gera well pads in 2013...although there was a smaller rig which looked to be drilling top holes on the Skacel pad a month or so ago.
They are running at around 1/2 capacity through the pipelines right now, so they need to fill that capacity up now that the price of natural gas is more favorable for them.
WPX has 5 wells that have yet to be placed into service from last year, and they only plan on placing an additional 9 wells into service this year. So it looks like going into 2014, there will be another 5 wells that have not been placed into service, but drilled.
All of this could change depending on the price of natural gas. The higher it goes, the more they will drill. We need it to stay above $4 to see them keep drilling in the area.