Replies to This Discussion

Permalink Reply by bo boboski on January 2, 2016 at 7:17pm

I don't think we've heard the end of Eclipse's Guernsey county shananigans.Glad to hear your lease is with Antero! Happy trails to you.

Permalink Reply by David Allen Lilly on December 31, 2015 at 7:38am

I have noticed a steep drop in traffic hauling oil from the Grape Hollow gathering facility. Only a month ago there were 1-3 tankers an hour going by the house, now it isn't anywhere near that.

I thought maybe the holiday was affecting it but I am not so sure.

Permalink Reply by David Allen Lilly on December 31, 2015 at 7:42am

Also, in regards to the McClain wells, I have been told that there is no pipeline agreement for the natural gas, that Chesapeake is insisting they will build their own.

I highly doubt this, it would seem likely that this is merely posturing on their part as they negotiate with Mark West to use the pipeline that runs by the well site.

I am wondering if anyone has been approached about pipeline right of way for the McClain, I would presume connecting it to the wells on Oxford road.

Is there any chance that they would truck the oil and natural gas ?

Permalink Reply by KT on December 31, 2015 at 9:24am

I currently have a right of way agreement with enlink. I am directly north of McClain on Oxford rd. I have not been approached by CHK about any pipelines yet.

Permalink Reply by WranglerRouser on January 8, 2016 at 4:29pm

Has enlink constructed a pipeline within your right-of-way yet?

Permalink Reply by evan on December 31, 2015 at 2:50pm

They are building their own and not using mark west And we'll be the ones paying for it

Permalink Reply by RO on December 31, 2015 at 12:41pm

Can someone please tell me which wells were drilled on McClain and why the others weren't?  

Thank you

Permalink Reply by evan on December 31, 2015 at 2:51pm

All wells have been drilled on Mcclain 8 total

Permalink Reply by RO on December 31, 2015 at 5:19pm

Wasn't there a permit for 10 wells? Is it that 5 go in 1 direction and only 3 go the opposite direction? Just curious why this would be like that. Thanks for your help as I am new at this whole business and trying to understand and get educated.

Permalink Reply by evan on December 31, 2015 at 6:28pm

Yes just 5 north and 3 south. No reason why they just did 3 south. Probably because Eclipse has a lot of that to the south and that's just simply what worked out for both parties

Permalink Reply by Philip Brutz on January 1, 2016 at 3:45pm

Has anyone seen one of these delay rental agreements?

http://seekingalpha.com/article/3777466-eclipse-resources-a-tough-y...

Eclipse is facing significant lease expirations in 2017. Roughly 26,000 acres will be up for renewal in 2017, assuming none of it is drilled next year. The vast majority of that acreage is in the dry gas window, according to the company (a large percentage of the company's liquids-rich acreage is already held by production, either from Utica wells or conventional wells).

The majority of the leases that expire in the future have extension options, with an average cost of roughly $5,000 per acre, according to the company. Eclipse has been working with mineral owners to amend the leases, converting the full five-year extension option into annual "delay rental" extensions. The company commented that it received positive responses with regard to approximately 15% of its leases from the owners in less than two months.

While the response rate is encouraging, it is clear that lease renewal costs will be a significant capital item for the company in the next few years. Assuming 50% of all leases expiring in 2017 are converted to delay rental payments and half of the remaining expiring leases are renewed at $5,000 per acre, Eclipse's land-related spending in 2017 may exceed $50 million, which would be a very significant cash outlay, given the company's tight liquidity situation.

(click to enlarge)

(Source: Eclipse Resources, December 2015)

Permalink Reply by bo boboski on January 1, 2016 at 4:06pm

If they are gonna do yearly leases, then the lease should run out at the end of each year,if they don't re-new. Is this what they are proposing?

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