Activity in the County (Leases, infrastrature, drilling)

Just was curious to hear of any activity going on in Venango county.  Anything from talks of leasing, to actually signing on the line of a lease. 

What have the offers been for potential leases?  Any good addendums you were able to negotiate?

Has anyone heard how the completion went for the Seneca Resources well?

Hopefully 2012 will hold a lot more activity for this industry founding area.

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Replies to This Discussion

Permalink Reply by robert vepich on February 1, 2012 at 5:05am

They are withdrawing OFFERS.  Not backing out of any commitments they have already made most likely.  I do not have any additional information at this time, however once i do i will post it immediately.  

I am also hearing that there are wet-gas pockets within Venango, and that a lot of these guys are really only looking to put blocks of acreage together in certain areas.  I have 115 acres in Cranberry TWP, and the company my attorney is talking to is not interested unless I can group an additional 500 acres plus surrounding my farm.

Permalink Reply by Garrett Westover on February 1, 2012 at 6:48am

You need to get in contact with Harry Parker or Chad Findlay.  The second group of people did not sign, because Shell left.  They have over 2,000 acres, mostly continguous

Permalink Reply by RichR on February 1, 2012 at 8:50am

Hi Garrett !  People need to keep in mind not to get too hasty in signing a lease.  They have to do their homework and talk and work with their neighbors, time is their friend.  There is safety in numbers.  We were approached about leasing our Clarion Co. property back in 2009, we held out, did our homework, joined a landowners group, and finally signed a year later for more than 17 times what the initial offer was, plus we got a good lease, and good royalties.  Now we are waiting for them to move in, no rush.

Permalink Reply by matthew h mcsparren on February 1, 2012 at 7:07am

What area of Cranberry? 

Permalink Reply by Garrett Westover on February 1, 2012 at 7:54am

Bucktail Road/Big Eygpt Rd. is the one area.

Horsecreek Road/Meadow Church Road/Zacheral Rd./Maple Shade Road

Permalink Reply by Michael Walentosky on February 1, 2012 at 7:43am

Robert, thanks for the clarification.  Once again, Shell as assured those of us who signed leases that they will be honored as well as the bank drafts.  They stressed to us that they are an ethical company that prides itself in the way they do business.  What is the name of the company your attorney is talking with?   Thanks again. 

Permalink Reply by Garrett Westover on February 1, 2012 at 7:07am

There are really only 3 "Big Companies" that have serious backing:

1) Chevron

2) Shell

3) Exxon

 

 

Permalink Reply by Dave on February 1, 2012 at 7:38am

and the only 2 that do not have a stake in this play

marathon

BP

Permalink Reply by matthew h mcsparren on February 1, 2012 at 8:38am

Not yet any how add Conco- Phillips

Permalink Reply by robert vepich on February 1, 2012 at 9:25am

totally not true...

Permalink Reply by Michael Walentosky on February 2, 2012 at 1:15am

exactly what is totally not true?  If I have somehing inncorrect, please challenge me. I am not an expert in these matters.  What company are you working with?  We are all in this together.  Thanks!

Permalink Reply by robert vepich on February 2, 2012 at 5:45am

that chevron, shell, and bp are the only players with deep pockets.  

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