New Rex energy leases above marcellus

Anyone have any information on new leases being signed by Rex for gas and oil above the Marcellus level ?

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0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on May 30, 2013 at 6:21pm

Likely for Rhinestreet production.  They've been looking at that for a few years now.  

Permalink Reply by Oliver Perry on May 31, 2013 at 1:26am

REX is very interested in the Upper Devonian as is Shell in Butler County. I think any new leases wound include that layer, along with the Marcellus & Utica. I attached the REX May 2013 Presentation in which they talk about their interest in the Upper Devonian & Burkett formations. 

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Permalink Reply by Kathy M on May 31, 2013 at 3:03am

we don't own anything below speechley sand....we have a strange deed, but rex wants above that ???? they said they were starting to go back and re sign for this ??? just wondered if anyone has this because they offered $3000.00 an acrea before we knew we didn't own below speechley now for the above gas and oil above which we definitely have oil because long ago we had 3 oil wells operating on the property they said $1000.00 with 5 year resign ???  anyone know about this new leases prices ???

Thanks !!!!!

Permalink Reply by Jim Litwinowicz on May 31, 2013 at 3:26am

What county/township are you in? The UD is great is some areas, not so in others, like all oil and gas plays.  That fact they are offering $1000/acre is pretty impressive, I think. If the UD is worth $1000/acre and you are in an area that has wet Marcellus or wet Utica, then you rights have considerable value. And if all three are wet, you are sitting pretty.

Permalink Reply by Oliver Perry on May 31, 2013 at 3:52am

I think the Speechley is only around 2,000' deep. There is a new vertical oil well being drilled right now in southern Venango County that is targeting the Speechley so obviously it is worth having those rights. The well is just south of I-80 on Route 308 near the Venango/Butler County border. I attached the well plat for that well.. Are you in Butler County Kathy?

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Permalink Reply by Kathy M on May 31, 2013 at 8:07am

Middlesex township butler county

Permalink Reply by Kathy M on May 31, 2013 at 8:08am

Middlesex township butler county

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