Replies to This Discussion

Permalink Reply by james on June 27, 2013 at 11:12am

Kastle Resources has been drilling some wells near Conneautville in Crawford, but these arent shale wells, I believe they are drilling into the Medina. I forgot to add this to the topic post.

Permalink Reply by john doe on June 27, 2013 at 1:12pm

Center of Crawford co.1000's of acres free and clear and all we hear  {crickets}...CX...,Bilack(sp)....several landowner groups....nothing??

.I know we have value so I can wait,and the longer it takes the better and more productive these drillers (wells) will become,experiment on other property's fine by me...The longer I wait the more I will expect both bonus and royalties.........Disclaimer---------------->>>> All IMHO

Permalink Reply by james on June 27, 2013 at 3:16pm

I know how you feel, I own 140 acres in 3 seperate parcels  in Summerhill township 2 of the parcels were tied to a unit and Kastle Resources drilled a well so no bonus money for those properties. The other parcel is 56 acres and I havent had anyone call me, send me any letters or anything, its like your 52 acres, it doesnt have any lease on it or any drilled wells. The one positive is that the well Kastle drilled is a good well, it has grossed over $100,000 in royalties every month.

Permalink Reply by Jack Young on June 27, 2013 at 2:45pm

There's little interest in Crawford right now - the word in the industry is that the results to date have been poor, which many expected to be the case as the play went north. We have interests in several thousand acres in the county, and nobody has asked even once about our Utica rights. It doesn't appear this will be a hot spot for the industry, so any development is likely to be slow and won't generate large bonus payments or royalties. For now, however, there's nothing going on, so anything would be an improvement!  

Permalink Reply by warjr on June 27, 2013 at 11:03pm

75 acres free and clear near Adamsville and nothing... not a peep.  Some jerk 2 years ago hounded us to sign for $300 an acre saying the area was dead and no one interested in leasing?   Sent him packing immediately and told him no more contacts!

Permalink Reply by Samuel J. Orr on June 28, 2013 at 4:25am

You can find Range Resources presentation on internet that has maps with statements showing how much acreage they have, and where it is concentrated. I think it was a company presentation in late 2012 but may have been in 2013. It is 84 pages and has a lot of good information. My impression is that Range is concentrating its current efforts in southwest Pa. I have very vague information that they have no interest in further leasing in Venango County, or in drilling any wells in Venango. I am uncertain about Crawford County.  The 84 page Range company presentation I referred to above was December 1, 2012!

Permalink Reply by MWS on June 28, 2013 at 5:00am

During RRC’s earnings call on April 26^th, the company said the following about what they refer to as its Northwest Utica acreage (which includes Crawford County):

Prepared remarks: “In the wet Utica of Northwest PA and the Cline in West Texas, we're continuing to closely monitor offset activity along with trading data and results as wells in both areas are completed and brought online by our peers.  Again, we have large acreage positions in both areas that are largely HBP.  Our plan continues to be to watch, trade and learn before we make any further development plan. Later this year, we expect that there'll be significant information that we can talk about in both plays.”

In response to an analyst’s question: “Then in the Northwest Utica, certainly there's a lot of guys that are really active out there, Halcon, Seneca, Shell, Hilcorp, there's going to be -- we still think about 12 wells up there that year. Actually Halcon, at IPAA last week or so, was talking about a couple wells that they're beginning to start flowbacks on.  So I think we'll have quite a bit of data over the next couple of quarters that we can start talking about.”