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Permalink Reply by paleface on February 19, 2015 at 3:29am

 This will be interesting.If I had to guess it looks like there drilling on the southern edge.

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Permalink Reply by Tim on February 19, 2015 at 6:41am

Seneca has a Utica well in McKean, Mt Jewitt, came on at 8.7mmcf/30 day IP, back in Sept 2013.  The play goes farther South, West, and North.

The Northern Utica Play is large.  Not sure why people keep talking about it being 'small', and where is the 'sweetspot'.  Its huge in WV, OH, and SW PA.  Its huge up here, in the Northern Utica as well, except we just have yet to know the 'boundaries' of the Utica shale play.

Do you think Shell swapped a Proven Asset for 155,000 acres cause they are making a bet?

Do you think Terry Pegula leased over 100,000 acres in Potter, cause he likes to gamble?

These major operators/players are not making bets, they know exactly where and why they are building leasehold positions.  No guessing for them, its a fact.

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Permalink Reply by farmgas on February 19, 2015 at 7:24am

Tim...thanks for your information.   Does the Northern Utica Play extend southward into Jefferson County and Northern Indiana County?  If so, how deep and thick is the Utica Shale in that area?  Thanks!

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Permalink Reply by Jack Young on February 19, 2015 at 10:21am

How about telling farmgas what the Seneca well produced after the first 30 days? Or pass along the results on Shell's McKean County Utica test. They both acknowledged they drilled duds and you should too. Let's hope there is a sweet spot, the bigger the better, but be realistic in the mean time. Everyone involved in the play up here knows it's a big gamble, and that includes Terry and Shell. There are few sure things in the oil and gas business, and nobody with any experience in the business is getting carried away yet.

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Permalink Reply by Tim on February 19, 2015 at 2:04pm

There's my wet blanket.  Miss you Buddy.  How you doing today?

  

Spoke ito IR @ Seneca more than once, specifically on that well.  There were 'blown away' by the results, surprised that the Utica was present there, and were more than happy to expand their proven reserves.  As stated then, they are holding off on drilling out the play as they have many acres of proven Marcellus, that cost less, to drill out first.  But they are going to absolutely drill out across McKean county.  Hence maybe why they are BUYING minerals and not merely LEASING in McKean.  

Jack, we all know any given tract of 20/50/100 acres, its takes a lot of luck to make real $$$.  Need to have clean title, get leased, get more title completed, get drilled, have a good pipeline, not get killed on the differential, have a good crew on the rig, have no 'mistakes', blowouts, have an operator that is dedicated to the play.  We all 'know' the risks.  In spite of all that, there is something REAL happening in the Northern Utica.

Your constant negativity is old, and quite frankly, not appreciated by me, OR others.  Why do you feel the 'need' to comment, negatively, on every thread regarding potter, tioga, and mckean?  Who asked you a question here?  No one.  Start your own threads, start a discussion.  Hey, its an open platform.  

The only real gamble up here is buying minerals at tax auctions and never really knowing if you own the minerals, or not.  That my friend, is a BIG gamble.  Hate to be in those peoples' shoes when royalty checks are held in escrow because of UNKNOWN MINERAL OWNER, on a big Utica well.

Mr. Pegula and Shell do NOT gamble, cause they don't have to.  

Jack, hope you have an enjoyable evening and crack a smile before you hit the sack.  Life's too short, lighten up pal.

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Permalink Reply by farmgas on February 19, 2015 at 2:33pm

Tim, putting aside whatever is between you and Jack, do you have any insights into my question asked earlier?  Thanks!

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Permalink Reply by Tim on February 21, 2015 at 5:15am

Farmgas,

Yeah, I hear you there.  I like facts, the other seems not to.

Check out this link:  Page 24:  http://investor.nationalfuelgas.com/files/doc_presentations/presemt...

That page gives a great view of the Test wells across the Utica play.

Also, here:  page 33:  http://investor.nationalfuelgas.com/files/doc_presentations/presemt...

These are both from Seneca, the parent company is National Gas Fuel.  I have spoken to IR, which is Investors Relations.  Yes, they talk with the public, that is the definition of their role.  

I def advise you take time to go through their presentations, its packed with excellent data, and information; and YES, its public info.

All the public companies put out these presentations, some are better than others.

Hope this is helpful.

Attachments:

• 02-07-14-Q1-Slide-Deck-FINAL.pdf, 4.2 MB

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Permalink Reply by Jack Young on February 19, 2015 at 2:51pm

Call Seneca Resources like Tim did - maybe they'll tell you all their inside plans and secrets like they told him!

If you look at the history of Tim's involvement on the forum you'll see that he only posts things designed to promote the county where he's trying to sell some oil and gas rights he owns, and everything he says is designed to talk that area up. He knows less about your area than you do.

There's little to report on your counties, I'm afraid. The results coming from both the east and west have deteriorated heading in that direction, so testing has been minimal. That doesn't prove anything, of course, but it does mean that asking your question isn't likely to yield any new information at present.

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Permalink Reply by Jack Young on February 20, 2015 at 6:04am

I should mention that it's not actually the first Utica well in Potter County - one of the storage operators took a well to the Utica some years ago and the log and core samples are available. It didn't look remarkable as I understand it, but it did confirm that the Utica is there. Let's hope PGE has good luck with their Utica tests.

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Permalink Reply by Tim on February 21, 2015 at 4:06am

LOL,

Since I have been around Potter County has gone from ZERO leasing, to JKLM paying $300 an acre to multiple operators paying $2,000-$2,500, and 15% NO DEDUCT.  I would love to take credit for all of that, thx for the compliment.  The real question Jack, is why do you continue to be negative in spite of positive results; what is your AGENDA?  

Oh yeah, lest i forget, I also convinced PGE to drill a $10mln + well in Keating, damn I am good!  

Did I tell you about the time I advised Shell to swap a PROVEN ASSET for 155,000 acres in Tioga/Potter???  LOL.  

Jack, that takes the cake my friend.  Give it up, before you keep embarrassing yourself any further.  

The FACTS of the Utica shale speak for themselves.

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Permalink Reply by Janice L. Hancharick on February 23, 2015 at 3:38pm

Follow Jack's posts long enough and the repetition of style becomes obvious.  He's the self-proclaimed largest 0&G landowner in the region.  Convincing folks they have little of value, it's not difficult to get bargain prices for AC.  As a finely educated lawyer with a keen understanding of what this region's potential is he's done extremely well for himself, i.e. in gathering 1,000's of O&G acreage over the years.  Don't you wonder why?

Jack is crazy like a fox. He likes to "play the game". Unfortunately " the play" does little for landowners of the region, but a whole lot for Jack.  He's a very caring individual.

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