What's going on in your area?? any info???

Just curious...

     I am in Liberty township and a few months ago got an offer to buy my royalties for 1500 to 1800 per acre, but they would do a more in-depth look if I was serious which "mite change the numbers" slightly....even tho I am not drilled or receiving any royalties ..talked to a landsman rite b4 I contacted them and he advised caution as there will be "significant" activity in my area in the "near future"....how about it, anybody else get an offer or hear anything or see any activity here in Tioga Co. ?

Views: 138359

Replies to This Discussion

Permalink Reply by paleface on November 6, 2013 at 5:40pm

 Brian when they first put the well on line it dropped to a little over 5000psi for about 2hours,than it  ,climbed to over 7000psi and is holding steady. 

Permalink Reply by Brian Day on November 7, 2013 at 1:55am

The wet gas information is a little sketchy.  Time will tell what equipment shows up at the well site.  I will be visiting Tioga County next week.  Maybe I'll get a better picture.

Permalink Reply by paleface on November 9, 2013 at 12:12am
Permalink Reply by paleface on November 9, 2013 at 7:38am

 I bet Shell knows where those oil pockets are in Tioga.

Permalink Reply by Jack Young on November 9, 2013 at 8:44am

If you looked at more recent reports you'd see that finding commercial quantities of shallow oil isn't considered likely in Tioga County, and to be honest, Shell has no interest in small producing wells anyway. Paul Cizek drilled numerous test wells in and around the Gaines oil pools in the 1970s and 80s and had very poor luck - I've got files full of the reports he generated trying to find partners back then, and it just wasn't possible to show any profit potential. Shell hasn't drilled a single shallow oil well in McKean County or elsewhere since they acquired East - their costs are far too high and their environmental policies too restrictive for shallow stripper wells to be of any interest to them. We had joint ventures with them that they inherited from East, and they turned down every proposal made to do additional drilling even in established fields. While a little shallow oil may be discovered by accident in Tioga County if/when more drilling takes place, it's probably not going to be produced due to the cost and limited reserves.

Permalink Reply by paleface on November 9, 2013 at 10:19am

 Jack I spoke to one of there people and he said Shell does not do joint ventures its there policy.If they were forced to because of a pre existing contract I would think they have no choice,but if the opportunity came up I think they would pass on it.

Permalink Reply by Jack Young on November 9, 2013 at 10:27am

The point is that they aren't interested in shallow oil. On their own or in a joint venture. We finally got out of our deal with them, and they didn't drill then either.

Permalink Reply by paleface on November 16, 2013 at 2:49am

 Shell is drilling another Utica well on Hunter road about 2 miles N.W. of Neals. 

Permalink Reply by paleface on November 16, 2013 at 4:38am

 I have nothing on that.I would call the DEP. in Mansfield and ask them when they open. ( 570-662-0830 ) I have found them to be very helpful.

Permalink Reply by Ann Ticopa on November 16, 2013 at 6:34am

Josie, CHK sold their 15,000 TC acres to SWN earlier this year, as part of a 160,000+ acre deal. 

Who is drilling around/in Hamilton Twp is Talisman (Frederick wells.)

Permalink Reply by Jack Young on November 16, 2013 at 6:52am

If there's commercial Utica in Tioga County it's not likely to be in Hamilton Township, so any valuation that CHK might have gotten there wouldn't apply to the rest of the county. Most of Tioga County is only valuable if the Utica turns out to be profitable, so the results of the Gee well and others will be critical there. Values in Hamilton Township and the southeastern half of the county will be driven by Marcellus alone, and that's going to be a hard sell given the reported production to date. But hopefully people will keep trying, and Talisman will have some commercial success there.   

Permalink Reply by Ann Ticopa on November 16, 2013 at 7:45am

Talisman does have experience (and infrastructure) in that part of TC because of their DCNR acreage.   Particularly considering their financial situation, why would they be leasing more land (see Landex) if they didn't expect new wells (on private land) to be profitable?  Say Talisman is breaking even on the DCNR wells.  The incremental cost of additional wells (at lower bonus/royalty) should turn a profit. 

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service