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. ?
There's really not much savings in having two marginal shales stacked - both require their own well and frac, and there's no additional economies beyond what you already have drilling multiple wells from the same pad. Stacked plays are great when each is economic on its own, but when both are marginal, the net is the same.
The Burkett may indeed get more productive as you go west, but it also gets thinner and eventually fades away completely. There could be a profitable streak in Potter County, probably near the middle of the county. The Marcellus seems to be particularly weak where the Burkett is best, however. Certain parts of Potter could still use a bit more testing, however, so they might still get lucky.
I think folks are talking about the Neal well in Chatham Township.
Neal pad is Chatham township Tioga county.
The Neal pad 815 will be interesting if it hits it has three producing Marcellus wells now in production so they can tie right in if its not to wet.
The E-facts E-mail from the DEP shows Shell is busy in many townships in Tioga county applying for drilling permits.
Don't remember if Delmar had a recent well permit,do you have the e-facts sent to your E-mail ?
One of the big plus's with having Shell as your oil and gas company as Jack Young said they keep testing,drilling and researching an area till they find a way to make it work.That last 3-d siesmic they did must have shown some positive data. They don't give up.
I see your point, but they do give up eventually if there's nothing there - you can't make an area profitable by throwing money at it. Shell will, however, test most of the options before walking away. They also hate to spend big money (as they did buying East) and have to admit they made a mistake. That's human nature, and may keep them involved in Tioga County longer than they might have otherwise.
You bet - they all do it, up to a point. Remember, if you buy an asset and the value declines substantially, a corporation needs to take a write-off and report a loss. Most of the $4.7 B Shell paid for East was for Tioga County leases, so they won't want to let the acreage go if there's any chance to salvage it.
Jack Shell is very happy with what they have found with the Sabinsville 3d sisemic look at all the permits there applying for.Here's my take on this East resources had very limited resources for research and development,Shell bought them went with Easts science it didn't work real good in some area's so Shell put the brakes on and started there own research and development and now your starting to see the results from that testing.I think one thing they found was you have to drill deeper in NC-NW Tioga.Thats my take on it.