HALCON/VENANGO COUNTY UPDATE; 4th permit pending DESKO property!

Halcon has applied for 4th permit in Venango County per e-facts. Multiple people named Desko in Venango County and multiple parcels. I am not good with computer and do not know what township this proposed well is located in?? Hope some of you more competent people can post more information and locate it in relation to where Halcon has its other three permits in Venango County!

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Permalink Reply by Samuel J. Orr on October 11, 2012 at 6:04am

Melissa: Do you know the name of the Title Search Company that was doing the work? If so, do you know what O&G company they were doing the title work for? Any details at all would be helpful!

Permalink Reply by Melissa Biltz on October 11, 2012 at 6:18am

Cinco Energy Services is the company that they were working through here and they were doing title search here for Devon....now they have went to Venango County and they don't know which oil company they will be doing work for.  The way they make it sound is an oil company hires Cinco to do a project and then Cinco hires subcontractors to complete the job....and they move from place to place where ever the work is.

Permalink Reply by Samuel J. Orr on October 11, 2012 at 7:04am

Thanks Melissa. Very nice of you to provide this information. I suspect that Cinco will be doing work for Halcon per 4 permits In Venango County either granted or pending.

Permalink Reply by Mark Luce on October 11, 2012 at 7:03am

Halcon also wrote a bunch of leases in Venango and then didnt pay the bonus money. Walked away from the leases.

Permalink Reply by Samuel J. Orr on October 11, 2012 at 7:56am

I am very aware of that. See previous thread that I started about Halcon and Venango county. Also see the thread started by Ron Eiselstein entitled Halcon...  Perhaps whether they ultimately decide to aggressively lease property in Venango County will depend on results from the 4 wells that they are apparently going to drill in Venango County. I believe these wells probably will cost 5-6 million dollars per well. Simple math 4 X 6,000,000 = $24,000,000. Supposedly Halcon walked away from about 29,000 acres in Venango County. (This is very second hand information and may not be accurate.) If the agreed bonus money was $3000/acre, Halcon saved $3000/acre X 29,000 acres or $87,000,000. There is no way Halcon could have that much cash. There is probably no way they could go to banks or to Wall Street for that amount of money. Optimistically, maybe these wells will be good so that Halcon will then have proven reserves, which might allow them to borrow the money to actually LEASE a bunch of property. I do not believe they will ever be a major developer since Floyd Wilson's announced strategy for the company is to acquire an inventory of very valuable properties/leases/ options to lease and then sell the company to a larger company all within the next 3 years. In other words Halcon's Goal is to very profitably kill itself off. There will be no company named Halcon if Mr. Wilson's corporate strategy is successful. He has employed this strategy in the past and he and the stockholders have benefited greatly. For further information, research Petrohawk. By the way Halcon means Hawk in French. There is an accent over the o that I am unable to type on my laptop. 

Permalink Reply by p umpjack on October 11, 2012 at 1:44pm

halcon was never the designated buyer...

it was only a option lease put together by carpet baggers lawyers who took advantage of a opportunitie they chased the ambulance ..... 

be patient there is other players coming... come january budgets will be set for 13-14 and the election will be over and the stone will be set for the next 4 years

there is NO infrastructure in venango to speak of we have oil thats what they want

Permalink Reply by Samuel J. Orr on October 11, 2012 at 2:52pm

I do not understand Halcon at all. I appreciate your mentioning oil. I thought that the oil window was a lot further west for the Utica Shale. Or is this shallow oil. If its shallow oil I wonder if there is any on my property. Whether there is or not, can you describe how they find the oil. More specifically what tests can they do so as to maximize chance of finding it? P-umpjack, I much appreciate your post. If you can enlighten me further, I will appreciate that also.

Permalink Reply by owner on October 11, 2012 at 7:36am

I have property adjacent to the sandy creek conservancy site.  The access to this site is off Pold cut-off road.  Halcon has put up signs for trucks but nothing else has been done at this site as of this Monday.  Halcon has had satellite companies ask for sesmic testing on my property and they are trying to get a pipeline through my property.   They say the pipeline will be for one 16 inch line with the possibilty for an additional pipeline up to 16 inches in diameter.  This pipeline will travel souuth to connect to some major lines a few miles down rt 8.   From what i understand they are having some state permitting issues going under Sandy Creek.

Permalink Reply by Samuel J. Orr on October 11, 2012 at 8:41am

Hope you are right about the 16' pipelines and the connection to some other pipeline further south along route 8. I thought the pipe diameter necessary for wet gas was 20" but I may be in error about this. I also thought wet gas and dry gas could not be transmitted in same pipeline. I could be wrong about this also. If there is a 16" transmission line along route 8, where does it go? Is it for wet gas or dry gas or can it accomodate both. As I said previously wet gas needs to be cracked and the cracking facility contemplated for Beaver County is likely 3-5 years away. I reiterate my opinion that if horizontal wells in Venango County are drilled, they will likely be shut in and HBP until the price for gas increases. They may also be shut in for a period of time because there is no cracking facility to process "wet gas" or a lack of necessary pipelines to transport "wet gas" from well-head to the cracking facility. I hope somebody with technical knowledge about questions I have raised will respond to this thread.

Permalink Reply by Jim Litwinowicz on October 11, 2012 at 1:06pm

Sam; wet gas doesn't need to be cracked. Cracking is the process of converting ethane into ethene, which is then converted to ethylene. Wet gas needs to be separated which is to separate the various components into its fractions of ethane, butane, propane. This can be done in various ways like a cryogenic separator. They will put in separation plants as needed long before the cracker plant is online, assuming it is built.

 I don't know about pipelines......there are different concentrations of wet gas. A gas that is very wet might have to be at least partially separated before piping it. I do know they are planning on piping ethane to the East Coast and to Canada. They are also going to reverse a line to pump ethane and other constituents to the Gulf Coast. 

They can and will truck out the liquids if needed. So wells will be online as they get pipelines for the dry segment. I'm guessing that they will gather some liquids on site, pipe the remainder of the wet gas through gathering lines to a separator, then put the dry into a midstrean line and truck off the liquids.

Hoping some one with more knowledge will correct my errors and fill in the gaps for us.

Permalink Reply by Samuel J. Orr on October 11, 2012 at 2:45pm

Jim:

Thanks again. I appreciate being enlightened. Thought I was probably in error. Always good to get get educated on some of the technical stuff. Apologize to all for a mnyisinformation in previous posts. A little knowledge is a dangerous thing.

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