Anadarko defines its core Utica acreage

Anadarko assigns all its non core acreage and all wells in the Utica to Artex Energy Group LLC except a small area in the SE.

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Permalink Reply by Glenn C. Keith on October 17, 2014 at 2:33am
Thanks James. There is a lot of acreage put in leases three years ago with Anadarko in Guernsey County. So Artex doesn't have a lot of time to figure out what they intend to do.
Permalink Reply by Carolyn on November 10, 2014 at 2:35pm
We have land not leased in Sharon township Noble County,Ohio and were approached by Artex to lease a few weeks ago. They offered us a very low ball offer. I know most of the ground around us was leased back in November 2011 to Amarado oil company Ltd for $3500 an acre and 18% for a 5+3 year lease and the assigned to Anadarko in 2012Then assigned to Artex last month. They have 2 years left on the leases signed in 2011. Does anyone have any idea what they are planning on doing?

I have looked on the OD&R Web site and I don't see where they have ever drilled a horizontal well.
Permalink Reply by Glenn C. Keith on November 10, 2014 at 2:44pm
Carolyn, you are in the same boat with dozens of other land owners with leases assigned to Artex. I happen to be in Guernsey County, Knox Township. We cannot seem to get any concrete insight into what Artex intends to do. It is an ongoing frustration.
Permalink Reply by Carolyn on November 10, 2014 at 4:39pm
I agree, it will be interesting to see what they do. Like you said they don't have a lot of time on there leases. I know PDC Energy has a lot leased bordering outside of what Artex has in this area and the have drilled to the south and the west of where I am. PDC energy is having there Quarterly meeting and report on 12 Nov 14, it will be interesting to see what there plans are for the Utica.
Permalink Reply by James Vanderink on November 10, 2014 at 11:13pm
Caroline, the well west of you looks real good. Your land holds great value. Glenn, their landman are in your area also.

PDC Energy's (PDCE) CEO James Trimble on Q3 2014 Results - Earnings Call Transcript"

"Let me bring everybody up to date on the 2-well Palmer pad in the southwestern portion of the Utica acreage. Very encouraged by early production from this pad, which de-risk the southwestern portion of our acreage, 8 weeks into production for both wells. Each well is producing at a 600 barrel of oil equivalent rate on an 18/64s choke. We have stair-stepped the production up slowly over the past 8 weeks from a 12/64s to an 18/64s, and both wells are exhibiting stable casing pressure of approximately 2,000 PSI. I should note neither well has exhibited any significant declines, and the liquid mix for both wells is approximately proxy 70% liquids and 30% dry gas. So both wells are in the condensate window and further support phase behavior windows that we have defined."

Read more at: http://seekingalpha.com/article/2652985-pdc-energys-pdce-ceo-james-...
Permalink Reply by Glenn C. Keith on November 11, 2014 at 3:35am
James, thanks for this information. We have heard rumors that there will be drilling in the areas west of I77 beginning in the spring. The timing would make sense given that these leases are now a little less than two years from expiring. In addition, Artex has been a player in this area for many years. We shall see.
Permalink Reply by James Vanderink on November 11, 2014 at 3:50am
No problem. They are going to have to add some rigs if they are going to drill all that land. They are Definately doing some exploration in counties they have never drilled before like Perry, Licking and Knox.Caroline, is Artex trying to lease the Utica or Knox formation?




http://gomarcellusshale.com/group/knox-county/forum/topics/artex
Permalink Reply by Carolyn on November 11, 2014 at 3:20pm
James, thanks for the info. Artex did not mention which formation they wanted to lease and it does not say in the copy of the lease they gave us, but the offer was the lowest I have heard of for the Utica.
Permalink Reply by James Vanderink on November 12, 2014 at 1:09pm
Was it Jud or Ethan? I hope you showed them the door after the laughable offer.
Permalink Reply by Carolyn on November 12, 2014 at 2:13pm
It was Terry from the Marietta office. We told him there was no way at that offer. I also talked to some of my neighbors and they all said no at that offer. We have a few hundred acres combined with all the neighbors.
Permalink Reply by James Vanderink on November 13, 2014 at 1:04am
If you don't mind sharing....what was the offer?
Permalink Reply by Carolyn on November 13, 2014 at 7:13am
$1500 an acre 12.5% 5 year lease and the lease was not landowner friendly .

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