Not that unusual but for any of us following PA Marcellus successes, the example couldnt be any better. Do company mgmt styles and skils vary and what does it mean?

 Look at the prices of COG, XCO, RRC, PVA, CHK, SWN and what am I missing? Online you can find any # of sites with charts that goes back several years, use weekly or monthly data.

 PVR Penn Virginia, they do important work in erecting pipelines, we need them in Lycoming Cnty etc but as natural gas scouts, terrible, their focus was Potter County. While I hope all is not gone for our brethren there, but to date there are no worthy results.

 COG with RRC just behind, Cabot and Range that is, are leaders in having chosen areas proving to be very productive. Depth, thickness, richness can be gleaned from old well logs, free to anyone from the DCNR. The H.Wesley Pease well, 20006,  1973, Shell Oil, attracted COG to Susquehanna.

 SWN, Southwestern is producing 2 Billion cu ft a day from their Fayetteville assert (shale experts) and though their Marcellus position is much smaller, they have only a small % that is non-prospective. E Bradford, C E Susquehanna and their Lycoming land all looks very good.

 Exco, XCO, partially owned by took on land in southern Wayne County, Lackawanna and other poor choices. W Centre, appears marginal, we will see. They bought Lycoming leases and wells from Chief, which is producing but even that, far E Lycoming is grade B.

 Chesapeake obviously has tremendous land in Bradford and SW Susquehanna, but the bulk of their claimed Marcellus position is lacking according to regional practitioners. Their step on anyone style hasn’t seemed to matter, seems no one likes them. Does anyone have an opinion on whether their rep will affect re-leasing objectives? Will landowners have other choices?

Thanks for listening, just sharing what I pick up, believed to be accurate but no guarantees.

Humpherys

+++

COG is at all time highs, up 300% in 3 years. PVR is 4, sinking fast down from 80, yikes. Exco, dead in the water, sinking over time. Etc.