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Permalink Reply by The Hiker on September 19, 2013 at 9:38am

Verify formation properties and thickness?

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Permalink Reply by David Cain on September 19, 2013 at 10:23am

Are they just trying to get more acreage HBP before the leases expire?  I had heard that they weren't going to do that anymore.  That would be a real shame.  And are they just sampling cores from the Rhinestreet and Marcellus while they just drill a Clinton well to get them held?  I noticed the acreage on each was around 60 acres so this must be vertical wells.

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Permalink Reply by TM on September 19, 2013 at 10:32am

I thought that as well David. I had read somewhere that they were not going to drill more vertical wells. Must be trying to HBP properties who knows.

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Permalink Reply by James Vanderink on September 19, 2013 at 10:41am

I have a few interests in Millwood Township. Since my leases are set to expire soon, I was hoping to be in a Utica/PP unit soon, not HBP by one of the famous Oxford wells. Maybe I'm wrong.

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Permalink Reply by searcherone on September 19, 2013 at 11:43am

From a business point of view it is a smart move by Eclipse.  They want to hold that property because it is very close to the Dollison well which Antero permitted in July 2013.  Near Whiskey Run golf course.

IMHO

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Permalink Reply by The Hiker on September 19, 2013 at 12:24pm

Searcherone:   Yep, it's a hot area and a good move by Eclipse to tie it up, but they will need to hold more than the ~ 60 acres (or the whole farm, depending on lease) to eventually drill a Utica (or horizontal Marcellus) well.  Maybe the surrounding land is already HBP under old Oxford leases and this is the missing piece?   

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Permalink Reply by searcherone on September 19, 2013 at 2:37pm

Hiker:  Perhaps they do control other surrounding acreage;  perhaps they are testing the  Marcellus and/or Rhinestreet here;  perhaps they are playing a card to make another company work with them; perhaps they are preparing to sell off some of their acreage;  whatever the purpose Eclipse thinks it will benefit them and and time tells what stripped tigers do.  IMHO.

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Permalink Reply by James Vanderink on September 19, 2013 at 12:05pm

I confirm Searcherone, but it's still hard to take. I assume my interests will have a similar fate in the next 3 months. I wonder what Straker will do with all his money? He was already "filthy rich" before the Eclipse deal. I bet he won't spend the winter in Ohio.

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Permalink Reply by David Cain on September 19, 2013 at 12:24pm

James,

I agree with you.  I am fortunate my lease expired early in 2011, just months before things started to get hot.  A lot of landowners in the area weren't lucky though.  James, my property is between Shannon Run and Barker road right on the Guernsey/Belmont county line.  Are you close by?  If there is anything to be hopeful of it is that Eclipse doesn't have enough time or resources to drill everyone before their leases expire.  Maybe you'll get lucky.

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Permalink Reply by searcherone on September 19, 2013 at 12:44pm

David you are very fortunate.  

And probably Eclipse doesn't have time and money to drill all before they expire.  However, that doesn't mean they won't go after prime locations and/or sell leases to or do some joint ventures with other companies.  IMHO Eclipse has more options than most landowners want to consider.

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Permalink Reply by searcherone on September 19, 2013 at 12:27pm

James, I, too, am a landowner and yes, those kind of things are hard to take. 

 Eclipse is showing their stripes and unfortunately tigers don't change their stripes.  According to the Eclipse website, they hired July 1, 2013 Marty L. Byrd as Vice President of Land.  He had been VP of Land with Eastern Division---Appalachian Basin for Chesapeake Energy since 2006. So time will tell what Mr. Byrd's thirty years of experience will bring to Eclipse lease holders. 

Guess as well as following the play one needs to follow the players and who they are playing for and what teams they have been on before.

 

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Permalink Reply by James Vanderink on September 19, 2013 at 12:35pm

Haha, Byrd!!!! I guess the apple doesn't fall far from the tree.

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