HilCorp Pulling Out

I just learned that in Mercer County, PA, HilCorp is done leasing South Pye, Pymatuning, Fairview, and Deleware twps. They will honor the leases that were signed, so that is a big plus for those people (myslef include) that were counting on the bonus payment coming in. We need the demand side of the equation to pick up!

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Permalink Reply by Doulittle on March 1, 2012 at 8:11am

Likely a move away from the dry Marcellus gas formations. 

Many of the political developments and injection well bans could have had an influence also.

Game plan may be to regroup in the wet gas plentiful lands to the west. (Ohio or Bust....!)

Permalink Reply by Schnoozie on March 1, 2012 at 8:25am

From whom and where did you hear this??? Facts please.

Permalink Reply by Doulittle on March 1, 2012 at 8:38am

Political climate: read the PA newspapers.

Injection well ban: read the papers.

Other drilling concerns are already cutting back in operations in PA because of depressed natural gas market prices.

Wet Gas = higher $$$$ value than dry gas. More components very desirous for new Cracking facility being touted for tri-state location. 

'Nuff said?

Permalink Reply by Schnoozie on March 1, 2012 at 8:48am

Maybe you misunderstood what I was asking.

I will ask again. From whom did you hear this???? A friend. Your Atty. Your barber. The nice lady at the grocery store. The girl with the things in her lips at Country Fair by the mall.

Who?????  Lots of our neighbors got letters and follow ups and offers from Hilcorp. If I call there today what do you think they will say.??? This sounds fishy. and the timing is unusual.

 

Permalink Reply by Tracy on March 1, 2012 at 9:09am

I would also like to know where this information came from. I know several people who have just received their bonus moneys in these areas. Also, these townships are not in the dry gas areas of the Marcellus. The Marcellus is too thin here anyway to be profitable. These areas are in the Utica oil/wet gas areas according to the maps. There is really no utica data for these areas because they haven't been drilled on.

015334grltd9mPermalink Reply by 015334grltd9m on March 1, 2012 at 9:23am

I think they hit oil gushers in Metro Detroit and are leaving everything to run up there, I heard this today from Jasper..................my cat, he's always gossiping with Hector the squirrel.

Permalink Reply by Schnoozie on March 1, 2012 at 9:41am

Is Hector the Purple Squirrel??  If he was in my yard he would be reincarnated as about 200 wooly buggers, purple ones.

I will conclude from this thread, that Hilcorp is still leasing.

Permalink Reply by Lance Nimmo on March 1, 2012 at 1:53pm

If you have property in any of the areas I listed be my guest and prove me wrong. 

Permalink Reply by Dave on March 1, 2012 at 11:16am

hows hector doing did he turn blue for the way ohio is going to vote?

Permalink Reply by Lance Nimmo on March 1, 2012 at 1:50pm

I heard it directly from Western Land Services. You think I'm gonna post something so important with no basis? Cmon. I talked with them this morning. Like I said, she assured me that they will honor all leases that have been signed, but they are done signing new ones in those areas.

Permalink Reply by Berk on March 1, 2012 at 4:00pm

http://www.mercercountygaslease.com/   click on lease offer at the top of this page.

Berk 

Permalink Reply by Berk on March 1, 2012 at 4:25pm

Mark

I agree. I wanted to show there was still activity going on in Mercer county. For me I live in southern Crawford county Greenwood twp. No knocks at my door yet but I think it will happen someday.

Berk 

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