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

Permalink Reply by Jim Jones on January 21, 2014 at 6:29am

Sorry Josie, I'm new to this, I just typed in Google
The Empowered Municipality,  Energy Companies Win Bids
to drill for Natural Gas in Pa. and found the article.
Maybe you can post the link for me thanks Deb.

Permalink Reply by Jack Young on January 21, 2014 at 7:12am

You all know that these bid results are years old, I assume. This article is a reprint of something from the bubble years. Why this was reported in a recent article I have no idea, but it's all very old news.

Paleface - I haven't been following the spurs, anything interesting there?

Permalink Reply by Jim Jones on January 21, 2014 at 7:38am

Josie, I also want to apologize.

     Sorry my Bad!

Permalink Reply by Jack Young on January 21, 2014 at 8:11am

Absolutely - why that website posted this under a new date is anyone's guess. We just need to keep pitching!

Permalink Reply by Ann Ticopa on January 21, 2014 at 8:41am

OK, I found the article and recognized it was probably written ~2009.  But I don't see any date - old or new - on the article itself? 

Permalink Reply by wyalusing jim on January 21, 2014 at 1:44pm

anyone following gas prices?

henry futures are up a little, but some of the spot prices in northern pa are even higher.

leidy spot today averaged $4.66

zone4 Marcellus is $4.30

with storage declining rapidly during these cold spells, we might have some nice prices before too long.

fingers crossed, and I hope the industry shows a little discipline on the production side.

jack?

wj

Permalink Reply by Jack Young on January 21, 2014 at 2:37pm

You're absolutely right - the worry is that the industry will jump on these temporary winter prices and it will cost them more during the off season than it made them. I heard today that Shell got rid of 60% of their staff at the Sewickey office on the 6th and 7th - guess they won't be ramping up production and driving down prices any time soon.

Permalink Reply by Jack Young on January 22, 2014 at 2:14pm

Josie, Sewickley is north of Pittsburgh, and I'm not sure what sort of packages Shell offers people they let go. It probably depends on the individual. And thanks for that great story from the UK!

Permalink Reply by Jack Young on January 29, 2014 at 12:39pm

Interesting suggestion, but those sorts of completions are very rare. The expense of fracing a well twice is much greater overall, and it's hard to get back into a well that's producing when you do want to frac again. A partial frac is certainly possible, but I would be surprised if it was being done in Tioga County except by accident. I've never seen it done on any well we have a piece of, and believe that it's quite unusual. All it does is give you worse information and lower production at a higher price - it's much easier to frac a well completely and pinch it back to match your market than waste money having to come back a second time. It just wouldn't make sense to do this.

Also, the idea of not drilling out all the plugs to keep production low wouldn't be a good solution either - leaving frac water on a formation indefinitely can hurt production long-term. I'd like to believe that all these wells could and will make more gas one day, but it's just not likely. I have never seen that done on any well we have a stake in - shallow, vertical or horizontal. It's just not something that would be done intentionally except in a very unusual situation.

The way you control production, save money and get your best results long-term is just to pinch the well back when there's a market shortage or whatever. There's no need to do anything more.

 

Permalink Reply by paleface on January 22, 2014 at 3:49pm
Permalink Reply by wyalusing jim on January 24, 2014 at 3:53am

more lease recordings for swepi in chatham and middlebury yesterday paleface.

the Utica in that area just might be economic.

also, gas prices are up again today. maybe swepi will try to position itself for increased production if prices hold on the high side.

wj

Permalink Reply by wyalusing jim on January 24, 2014 at 11:39am

http://www.landex.com/webstore/jsp/cart/DocumentSearchResults.jsp?L...

there ya go jim, click on the instrument number to see the name for that one.

wj

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