Replies to This Discussion

Permalink Reply by craig on November 30, 2012 at 5:28pm

That is a good question to get the answer to Larry. Gonna read around some.

Permalink Reply by craig on November 30, 2012 at 5:56pm

Check here : they  have 9 months from well completion. 

http://www.elibrary.dep.state.pa.us/dsweb/Get/Document-85899/0100Bu...

Permalink Reply by Larry Livengood on December 1, 2012 at 12:00am

I see what it says, the infamous "no longer producing" statement.  The well on the clay pits was from 2007, which would qualify for the nine month period, but there is pressure and might be capable of production.  A better question at this point is if that well is shut in, and a large number of leases in that unit are coming up on expiration, can they be help by production when nothing is being produced, or do they expire and will be able to renegotiate their leases?  This is like the argument in Ohio about the 50 year old leases holding property because the old gas and oil wells on the property "could" be placed into production, therefore they are a viable well and HBP.

Permalink Reply by mkf on December 1, 2012 at 11:12pm

I suppose a lawyer could argue that "no longer producing" necessarily means that it HAD produced at some time.  So if it had NEVER produced, this statement wouldn't apply?

Permalink Reply by industry resident on December 14, 2012 at 7:02pm

hey craig- i talked to a truck driver for chk yesterday he said cody berovich jenkins ferrebee all have one well drilled fracked and capped-- he said condensate tanks  being installed now  told me chk laid off our area cause of lawsuits from old leases as well as money issues . all heresay except he was there for frack job -

Permalink Reply by craig on December 15, 2012 at 3:53pm

Hey, thanks for keeping touch here. Was talking to a few neighbors about our leases some of which expire soon or the first half of 2013......one offer for a top lease was for $200/acre on 70+ acres, absolutely ridiculous. Some of us don't really care anymore to sign/re-sign a lease at this time.

After pooling our info some of us are starting to think that CHK is trying to top lease or new lease whatever they can as cheap as possible because they are going to sell off Beaver County assets. Shell would be a great candidate if they agree to buy the Horsehead property as per their option to buy before the end of the year....a couple of weeks is all they have to announce it. This is based on nothing more than opinions on why they are doing what they are doing in our area. Heck, if this comes to fruition we just might be better of with a new driller than we are with CHK.....it wouldn't take much to be better though. 

Permalink Reply by Larry Livengood on December 15, 2012 at 4:17pm

Some related info:  Hilcorp leased a bunch of land late 2011-12 and are currently working to get addendums signed to make the leases more favorable to sell.  Rumor has it Shell is the party interested.  A lot of realignment of leases could be happening in a short time. 

Permalink Reply by craig on December 15, 2012 at 6:23pm

I should be able to find out after the first of the year where the pipeline folks will be working in our area. Maybe that will shed alittle light on the subject as well.

 I'd say anyone re-signing a lease at this point is not making a good decision. A very low signing bonus is worth gambling that our area is good and that they will be back in force.

Permalink Reply by industry resident on December 15, 2012 at 4:50pm

that link of shalestuff.com i sent you earlier mentions this week of another large "utica chk selloff " if its here i think locals cant be worse off from all the bs i read about chk--Hang tight on old lease my opinion they have not reported what they have found here yet -also reading another layer accessable here than marcellus -utica - triple play triple dollars

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Permalink Reply by industry resident on December 17, 2012 at 6:36pm

new drilling rig today at jenkins pad neville road no sound barriers heard the pounding after shopnsave run looked and was suprisd they were pouidng new hole

Permalink Reply by Allen on December 22, 2012 at 5:18am

I have no clue as to what they were doing but the rig was gone when I drove by yesterday.

Permalink Reply by industry resident on January 5, 2013 at 7:57am

I drove past berovich well on engle road today looks like they are set up to flare it --

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