Halcon's proposed utica well on Georgetown Road. What are they looking for? Oil? Wet Gas?

Does anyone have any insight on this?  

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Permalink Reply by Guy Dunkle on September 21, 2012 at 4:36pm

Does anyone know which direction they'll be drilling the first lateral off of the Rainbow pad?

Permalink Reply by JREwing on September 21, 2012 at 4:57pm
From a map I saw weeks ago, it's supposed to go briefly NW from the pad and then make an almost 180 degree turn to the left, and then SE for the remainder, with the end being somewhere near/past the pump house on Little Sandy. I have absolutely no idea how accurate my description is or how accurate the map was that I saw.

JR
Permalink Reply by Samuel J. Orr on September 21, 2012 at 5:48pm

JR: How did you find this out? If source is confidential or supposed to be you can talk to me on our private channel? My prediction is that by giving up 90,000 acres in Ohio, and Northwestern Pa.,  Halcon saves at least $3000/acre times 90,000 acres = $270,000,000. They can drill a number of wells perhaps 4-6 to prove reserves. They can prepare a map stitching together leased parcels of land into nice 640 -1280 acre drilling blocks all containing cherry-picked acreage and then sell the entire company lock, stock, and barrel for a whole lot of money. If you check their stock, analysts who follow the company rate it a strong buy. Halcon's business reputation for signing up new acreage is ruined. They are not however a bit worried about this because their recent publicly stated goal per CEO Floyd Wilson was to acquire a portfolio of valuable properties and then sell the entire company to a larger player. I believe Halcon will cease to exist within 6-18 months. Mr. Floyd Wilson's timeline was some time within the next 3 years. I hate the company, but if I had any money,  I might buy their stock.

Permalink Reply by JREwing on September 21, 2012 at 5:56pm
Sam, I think what I saw was a copy of the permit application to the DEP that included the map, but honestly, I'm not positive. Yes, I'm scoping their stock too. lol

JR
Permalink Reply by Guy Dunkle on September 23, 2012 at 6:43pm

Thanks so much JR.  I'd love to see a copy of that permit/app map if anyone out there has it. 

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