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Permalink Reply by Jim Litwinowicz on November 16, 2012 at 10:24am

People ain't dumb. If they see all of a sudden that Halcon is signing leases after that well is drilled, they will know that the well had good results and will want more money. I guess its better to pay more later rather than pay less upfront on unproven land.

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Permalink Reply by owner on November 16, 2012 at 5:28am

I agree that Halcon is just developing its holdings to prove its reserves in preparation to be sold, but this can be good for the landowners.   Let them prove that the resources are in the ground and build the infrastructuure.   I thing the sandy creek conservancy well in sandy creek is under a newly acquired lease, not one held by production. 

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Permalink Reply by JREwing on November 16, 2012 at 6:38am

I'm sure you're right about the Conservancy property given your proximity and familiarity with it.  And while I hate getting hopes up, I will echo John Stanton's remarks about oil.  My sources within the industry ranks have VERY high expectations for these wells.  I like the phrase "Cautiously Optimistic."  :)

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Permalink Reply by Jack F. Moreoil on November 16, 2012 at 6:54am

I have updated the permits for Venango County attachment to include the Rainbow site.

Attachments:

• Permits_Issued_Detai_venango county_utica shale.pdf, 7 KB

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Permalink Reply by Jack F. Moreoil on November 16, 2012 at 9:32am

I plotted those coordinates on a GIS map for the utica shale permits issued in venango county by operator. See the pdf attachment...

Attachments:

• Permits_Issued_venango county_utica shale_GIS map.pdf, 1.2 MB

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Permalink Reply by Jim Litwinowicz on November 16, 2012 at 10:21am

I would say that the Chevron well in Richland  is the most critical since most public maps show the wet/dry line transecting Venango Co at a diagonal.  If it comes in as wet gas then the whole county will be considered wet and then watch things explode.

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Permalink Reply by Oliver Perry on November 16, 2012 at 11:26am

Jack, nice job on the map. Thanks it's much appreciated.

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Permalink Reply by Jack F. Moreoil on November 19, 2012 at 3:25pm

Thank You!  I will keep updating this map as new leases show up on DEP website.  I will add the Marcellus wells too for future maps.

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Permalink Reply by RichR on November 19, 2012 at 6:44am

You also need to add the Range Resources, Carter well on SR 428 in Oakland Twp. and the Seneca Resources well off of Old Rt 8 on SGL 39 south of Polk.  It would be interesting to see if there is any pattern developing on the location of these wells.

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Permalink Reply by John Stanton III on November 16, 2012 at 4:01pm

Jim, I have had several "off the record" conversations with someone who is in the know, the results are in, it looks good for both oil and wet gas.

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Permalink Reply by Jim Litwinowicz on November 16, 2012 at 4:14pm

John; that would be fabulous. Shell has wells near Slippery Rock that are rumored to producing a lot of oil. If so that will be a game changer as it would dramatically shift the wet dry line to the east.

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Permalink Reply by John Stanton III on November 17, 2012 at 1:43am

They are proceeding with Rainbow, so results of Alam are what they expected? Jim, where are these well's near Slippery Rock that are rumored to be producing oil? Did Shell lease any property in Venango? Is so, where?

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