I would guess that AEP only bought a percentage of HG because of the lease they signed with the landowners stated that they had to get approval from the landowners if they sold 100% of the company and the people I've talked to have not been contacted by HG. So I would guess they are only selling 95% to 99.5%
So, have they started production at 702 yet? Last word I heard was they were going to be plumbed in and start sending gas around the 1st of July.
They have been working on the site and I would guess they where hooking up the wells they had fracked.
Harry, It is an injection well. They put one in last year but where having problems with so they are trying again.
I'm interested when the landowners will be sent quartlerly information on the gas that is being sold now.
Rig went up on Tues. on the 703 site. Nomac is the driller rig #82. Nomac is owned by Chesapeake and they seam to know what they are doing. I hope it goes smooth without all the problems that HG had and better production would be good also.
Drilling completed on 703 site and rig left on Fri.
Sam, I've been monitoring this group on behalf of my father-in-law for quite some time. Unfortunately, he passed away last month at 92. My mother-in-law survives but is in a nursing home. They own about 84 acres on 26 (one of the twin houses) which was included in Whitacre's original landowners' group. I'm curious, has anyone (besides Whitacre) benefited in any way by being in this group? I recall that the original driller was committed to drilling 10 wells per year over some number of years, if the original test well (on Whitacre property) was successful. Presumably the original lease was sold but I've no idea to whom. Ownership in my in-laws' property will be included in a trust on their passing so my sole interest is learning the current status for my mother-in-law, my wife, and her two sisters. That's my only involvement.
HG sold out to American Energy. They have drilled 18 wells so far and have 9 fracked and in production. People are getting paid on them if they are in the unit. American Energy has 3 more pads completed and permits pull on all 3 but when they finished drilling on the 703 site they cleared out with everything but 2 porta potties. Doesn't look like they are planning to come back anytime soon.
Thanks very much. One additional question. What is the unit?