What's going on in your area?? any info???
Just curious...
I am in Liberty township and a few months ago got an offer to buy my royalties for 1500 to 1800 per acre, but they would do a more in-depth look if I was serious which "mite change the numbers" slightly....even tho I am not drilled or receiving any royalties ..talked to a landsman rite b4 I contacted them and he advised caution as there will be "significant" activity in my area in the "near future"....how about it, anybody else get an offer or hear anything or see any activity here in Tioga Co. ?
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Replies to This Discussion
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Permalink Reply by Lynn Wigglesworth on
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He's cute. Is he part of the herd (Longhorns, are they?) on Stony Fork Road? We see them every time we go to the Stony Fork Store.
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Permalink Reply by paleface on
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Lynn there Scottish highlanders,they throw the big round bails up in the air when they play. His name is Oscar,there is two other ones.
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Permalink Reply by paleface on
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Its the status of the Shell wells.You can look up a well of interest.I didn't know Shell had Pennzoil wells in Mckean county.
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Permalink Reply by Jack Young on
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Devon bought out Pennzoil, East bought out Devon's eastern division, Shell bought out East. Shell's interest in those old shallow fields is very limited, and they've started plugging some of them in the past year or two despite there being significant remaining potential. Shell has too much overhead to do anything that isn't big, I'm afraid.
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Permalink Reply by paleface on
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Shell needs some satellite company's that aren't directly managed by corporate.A small cap or intermediate company for oil and gas exploration.
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Permalink Reply by paleface on
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Shell is still drilling the Neal well,about a month of drilling and there adding more people to the drilling unit.
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Josie, acquiring shallow wells in McKean County wasn't Shell's goal when they bought out East - they wanted Tioga County for Marcellus development. That was obviously "big" enough then to interest them. Since that time, however, they've lost several billion dollars drilling in Tioga County, and that hasn't made them happy. When their wells get weak enough that they no longer can cover Shell's inflated costs and overhead, I'm sure they will start to plug them. But that's not likely to happen in the near future. There's a lot of room between a well not being profitable and one that can't even cover its operating costs. They'll want to cut their losses and get what they can out of the wells already drilled.
My guess, as Paleface has highlighted, is that testing their acreage position to see if there's anything deeper that might be better is Shell's main remaining goal in Tioga County. That could bail Shell out in a couple townships if they get lucky. But the wells will need to be very strong to meet Shell's financial requirements - just hitting gas, even large amounts, won't be enough on its own.
We had joint ventures with East that Shell took over after the acquisition, so we've had plenty of experience operating wells with them. It's not a very efficient operation, and partly because of the extra costs they take on to avoid any hint of environmental liability. But if there is something that can be drilled profitably in Tioga County, they'll find it. Long odds at today's gas prices, but I'm as hopeful as anyone.
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Nobody can say for sure, but I'd be less optimistic if I was in southern Delmar. But you have a well, and eventually Shell will roll the dice and see what they have there. I'd stay positive - anything is better than what we all had 10 years ago!
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The jury is still out on the Marcellus there, but at least Shell is still active nearby with their deeper test wells. They'll give everything a good look before they give up on an area, and have been doing plenty of testing in western McKean County over the last year in a similar search for other targets.
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