CNX indicates that the Utica Well will go to "pay status" during the summer of 2018. Prices at that time will be different than they are currently - higher or lower, hopefully higher. Pittsburgh Hub prices are projected to reach parity with Henry Hub after the first of the year - 2017/2018. Lots of additional end users each day forward. Looking better each month!!!
Congratulations Rob! Let`s hope for increased demand from the Renova system by next summer. Your gas will be directed to the DTI pipeline on rte. 210 (Dominion Punxy Compressor Station), and then into their pipeline which heads toward Renova. Additional demand is growing for this gas on the east coast including the LNG plant in Cove Point, Maryland. Let`s hope for increasing gas prices!! Please keep us posted of developments to the drilling and production of this well. Thanks!!
Paul...this rig will be on-site drilling for the next 4-6 weeks!
I heard today they will be bringing in a bigger rig to drill the horizontal leg.
Yes Patterson 801 still sitting on site yesterday. Wasn't doing anything around 2 PM.
Is the Patterson rig still operating on the Marchand pad? Anything new to report?
It was there yesterday looked like they were drilling. I didn't slow down to get much of a look
Several hundred feet of drill pipe standing on rig.
Rig still set up on pad today.
Consol identifies this well as a non-op well. I don`t understand how they will not be the owner & operator of this well? I don`t believe it can be considered a DUC since the rig is still drilling, right. I think XTO Energy may be the partner for this well. Both Consol & XTO seem to be working together for other wells in Central PA. If so, XTO will be able to finance the completion of this well. Spike`s Kin, do you live in the area of the Marchand pad?
Word on the street is that CNX will go to pay status (royalties) July, 2018. Hopefully, this holds true
Rob - is the rig still operating? Do you know when the well will be fracked following completion of the drilling step? Have you heard of any additional plans by CNX in the immediate area?