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Permalink Reply by FairMktValue on August 8, 2013 at 10:42am

"we have successfully increase our acreage in the Butler Operated Area to approximately 72,000 gross or 50,000 net acres as of June 2013. During the first half of 2013, we leased approximately 4,600 gross, 2,600 net acres, contiguous to our existing acreage position. During the second half of 2013, our acreage acquisitions will be strategically focused on adding more drilling locations or increasing the lateral length of our existing location. Our goal for 2013 is to reach 74,000 gross acres in the Butler Operated Area by the end of the year. With this additional acreage, we estimate that we'll increase our existing inventory by approximately 50 locations and extend the average lateral length of all of our wells in our inventory by approximately 75 feet. Assuming 750-foot spacing, this would bring our total number of proved and non-proved in liquids-rich locations targeting the Marcellus and Upper Devonian Burkett shale to approximately 800."

Sound like they are serious.

800 locations, lot of units down the road. Even at double the current drilling rate - that will take 20 years.