The area up in northern ohio that Hillcorp has leased is not economical to drill ......all the wells they do have are very marginal and that's why BP,Shell,Halcon have all walked away ....so don't look for much up there to be renewed all they other big players never even looked up there when companies were first leasing 4 to 5 years ago.........the northeast corner of OHIO is dead
Hi Mike. Glad to see that you remain your same old dour self. On December 18, 2015 Hilcorp announced an investment partnership with the Carlyle Group to the tune of 1.24 Billion dollars.
Quoted from Marcellus Drilling News ----
"Smart. Everyone knows the best time to buy something, whether it's stocks, real estate, fuel oil, whatever–is when the market is crashing and burning. Always buy in a "down" market and sell in an "up" market. Natural gas and oil selling at current historic lows qualifies as a down market. It's about as down as it gets! So it figures those companies who have kept their debt levels low and managed themselves well are now in the catbird seat and can go shopping for bargain basement deals–while their competitors sit on the sidelines hoping to stay out of bankruptcy court. Marcellus/Utica driller Hilcorp is one of those well managed/smart companies. Hilcorp has just joined forces with energy investment firm Carlyle in a partnership to go shopping for deals…
Just last week MDN highlighted Hilcorp's talent for drilling in the northern Utica (see Hilcorp is to Northern Utica as Cabot is to Eastern Marcellus). Hilcorp is providing the brains and brawn and Carlyle is supplying $1.24 billion in a partnership "to exploit attractive opportunities in the North American energy sector." They don't say if target acquisitions will be in the Marcellus/Utica, but we have to believe at least some of that money will be used in the northeast–if not most of it. Time will tell. " --- Unquote.
Here is another quote from MDN.
" In fact, Hilcorp is the "dominant active prospector" in the northern tier area of the Utica Shale–an area including Columbiana, Mahoning and Trumbull counties in OH and Lawrence and Mercer counties in PA. Hilcorp is strong and steady–and they're making money. They're also producing gas–lots of it."
Golly Mike, how stupid can those extremely successful investors be? You had better warn them that they have wasted their money. Also Mike, Quebec announced plans recently to prospect in what must now be considered the Northernly Nothern Northmost Utica formation. Good gosh, does that now make us the southern Utica? Maybe it's time you made an international call to save Quebec from grief.----- The O&G companies are eventually going to produce all of this when economics allow, or need grows stronger.Try a little harder to be negative Mike.
keep the faith SAGE
Sage59, It is great to hear someone speak with intelligence instead of talking trash, stating incorrect information, making uneducated guesses or just plain Bull S--- !!!!! This is a fact. My friends and family will know very soon what Hilcorp's future plans are for some areas in Mercer Co. Pa. Hope it is good news. Cheers for the cracker plant in Monaca. Don't forget, everyone knows how to run a business better than the business owner. Thank You
Regarding any so-called 'marginal' well (or wells) anywhere and the way I think everyone ought to look at them :
I see that even the mother of all gusher wells can be painted / described to be a 'dud' since the developer can throttle production to whatever they please.
So why is that bad? (choking back a well)
And, why do you believe that a company that restricts a well is somehow being dishonest?
There are many reasons for limiting production from a well. Most of which are good for all stakeholders.
Didn't write that it was 'bad'.
Didn't write that it was 'good' either.
Meant that this (realistically) is 'just the way it is' and for ANYONE to 'label' ANY well (or wells) 'duds' or 'poor producers' based on publicized production these days ought to be taken / interpreted with 'tongue in cheek' especially as motives to mis-inform seem to me to also abound.
I may look young (to some) but, I was't born yesterday.
I saw where Midstream is putting pipeline in Madison Township, McCormick Run road near Rt 39 right now.