What is going on with Talisman??

Has anyone heard that Talisman has done any packing up, closed down any wells, and pulled out of certain areas? Any info would be appreciated. I have a lease with them in the LeRaysville area and I have been told that things have slowed, or almost come to a stand still with them. I live out of state so I only get info via phone or email from friends there.

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Permalink Reply by Toronto Ohio on March 24, 2012 at 7:09pm
Not true. They let several rigs go. They are still drilling.
Permalink Reply by oildude on March 24, 2012 at 9:28pm

Does talisman drill trenton-blackriver formation wells?

Permalink Reply by Ken Gibbs on March 24, 2012 at 10:57pm

In Bradford County they are saying that they have closed their office as well.

Permalink Reply by Ken Gibbs on March 25, 2012 at 4:53pm

Well Frank, I take exception to your post!

I AM a landowner in Bradford County but I live out of State and was simply trying to get some feedback on something that I had heard from an aquaintance from LeRaysville. I am signed with Talisman hence my concern and I surely do not feel that I need to give you a personal explanation. I was simply asking a question.

 

Tactics? What tactics? ..................Disrespectful? In what way? I made no allegations and I would suggest that if you misread my post or perhaps have a hidden agenda, please let me know!

 

Kenny G - Property owner and MEMBER!!!!!!!!!!!!!!!!

Permalink Reply by Ken Gibbs on March 26, 2012 at 7:14am

Thank you Dennis and VG. Your replies are very helpful and appreciated!

 

Kenny G

0l1a6laz7smpfPermalink Reply by 0l1a6laz7smpf on March 27, 2012 at 4:12am

Kenny ...if you would change the name of the discussion to ' what is happening with Talisman in ___area"  it would not be as alarming to some (cause it means money).

Cause when google searching this discussion may be on first page of search.

Permalink Reply by Brian V. on March 27, 2012 at 12:20pm

What I was told by a friend who does contract work for Talisman and this could certainly pertain to any operator in the Marcellus, was that Talisman was cutting their drilling budget and drilling schedule for the first tow quarters of 2012 and re-evaluate midway through the year. Obviously Talisman, much like most operators in the Marcellus area, has made huge investments into the region in just lease payments alone. The only way to satisfy those investments is to drill or sell where you can't drill before expiration.

 

Given the current gas market I understand any company pulling back and obviously operating under a budget. I think it should be noted that Talisman in January made good on the NY portion of the Friendsville Group that they signed back in 2009 or 2010. The NY landowners got initial payments of, I think, $500.00/acre with the remaining $5000/acre to be paid by January 2012 or when drilling into the Marcellus opened back up in NY, which ever came first. Given the current market, NY's continued delay and Talismans stated decrease in investment into Dry Gas Shales it came as a surprise that they made this payment.

 

I noticed on the PA-DEP production reports that Talisman is one of the few companies that seems to be completing all 6-8 well per unit, in most cases, as opposed to 1-2 wells and basically holding land. I would suspect that may change moving forward.

 

Really it is all speculation with these companies. Just when you think you have a grasp on what is going on one of them will assign your lease or pull all offers in an area. It is an interesting game that they play.

Permalink Reply by melissa humphrey on March 27, 2012 at 4:30pm

I think something on the order of cutting their rig count from 12 to 4 or 5? Go to ther website for aan Operations update.

Their W C Bradford geology is what I would term b to B+ grade, 506 Mmcf IPs vs ZSE Brad with 8 10 12.

Thus expected. 2$ gas is unsustainabke, amatter of time until it is 45 again.

 

Permalink Reply by Frank Walker on March 28, 2012 at 12:10pm

Hump!!  Is that you, hump!!  The Melissa handle threw me off . . . but your writing . . . your incomprehensible writing . . . by Heaven I think you are back!!

We certainly miss you over in the other forum.

Care to tell us what "W C" stands for?   How about "ZSE". 

No probably not.  Clarifications were never your strong suit!!  Ha!  Ha!

Permalink Reply by Frank Walker on March 28, 2012 at 12:03pm

Kenny

Excellent new title and a very reasonable and appropriate modified post.  I wish I could help you with information regarding the LeRaysville region, but I cannot.  As you already know, Bradford County is nearly as large as the State of Rhode Island.  Thus, many of us who live here are nevertheless quite distant from LeRaysville.  Talisman does operate in my region of Bradford County and their work here is ongoing.  Still, they no longer are fully developing units as they once did.  Today there is a much greater focus by Talisman on HBP and de minimus drilling.

As far as packing up, the closest Talisman facility to me is located in Horseheads, NY.  AFAIK that facility, which is sizable, continues in operation.  If it were to close that would be a major league, big time, event region wide.  It would be really huge news, let me tell you.  I hope this does not happen.  It would be very bad to lose that facility.  Many of us would be hurt.

Permalink Reply by SA Frank on March 28, 2012 at 2:41pm

Talisman is down to 3 rigs drilling and there is a rumor that they will go to 1.  All of it is due to gas price and they are going to focus on their liquids rich areas. 

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