Anyone have any information on new leases being signed by Rex for gas and oil above the Marcellus level ?

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Likely for Rhinestreet production.  They've been looking at that for a few years now.  

REX is very interested in the Upper Devonian as is Shell in Butler County. I think any new leases wound include that layer, along with the Marcellus & Utica. I attached the REX May 2013 Presentation in which they talk about their interest in the Upper Devonian & Burkett formations. 

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we don't own anything below speechley sand....we have a strange deed, but rex wants above that ???? they said they were starting to go back and re sign for this ??? just wondered if anyone has this because they offered $3000.00 an acrea before we knew we didn't own below speechley now for the above gas and oil above which we definitely have oil because long ago we had 3 oil wells operating on the property they said $1000.00 with 5 year resign ???  anyone know about this new leases prices ???

Thanks !!!!!

What county/township are you in? The UD is great is some areas, not so in others, like all oil and gas plays.  That fact they are offering $1000/acre is pretty impressive, I think. If the UD is worth $1000/acre and you are in an area that has wet Marcellus or wet Utica, then you rights have considerable value. And if all three are wet, you are sitting pretty.

I think the Speechley is only around 2,000' deep. There is a new vertical oil well being drilled right now in southern Venango County that is targeting the Speechley so obviously it is worth having those rights. The well is just south of I-80 on Route 308 near the Venango/Butler County border. I attached the well plat for that well.. Are you in Butler County Kathy?

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Middlesex township butler county

Middlesex township butler county

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