Comment

Comment by WTF on August 13, 2014 at 7:41am

The REX acquisition from Shell tells us why the wells drilled by SWEPI were never placed into production. My guess is this was part of their plan from the start. I think they drilled wells to prove the resource was here and then sold them and they intend to make their big dollars on the cracker plant. Only time will tell!!

Comment by Bob Rock on August 12, 2014 at 3:28pm

I'm surprised  Ron Eiselstein  didn't post this first and told you so!  LOL!

Comment by Trapper on August 12, 2014 at 3:24pm

They got a sweet deal @ under $600/acre and quite a few wells to boot! Tells me they got a honey deal in return for a contract to sell the goods to Shell I bet.

Comment by Bob Rock on August 12, 2014 at 3:12pm

Maybe your right Jjohn L  and Trapper. Will they go after BP in Ohio next. They seem to get the product out of the ground don't they?  

Comment by JohnL on August 12, 2014 at 3:00pm

Trapper- I'm assuming the deal included the Palmer well they drilled last year and probably the Mill's pad. Chevron looks like they're stepping up their leasing and Hilcorp has new money (lots of it). Maybe things will finally break loose in Mercer County.

Bob- my guess is the cracker is better than 50/50 odds. Shell will be the processor and not the producer in the Utica. I think Rex already signed as a potential supplier for the cracker plant.

jl

Comment by Trapper on August 12, 2014 at 2:50pm

I predict they will build it and Rex and Hilcorp will be their biggest suppliers of ethane.The Markwest connection will tie this all together for them. More to come. Watch and see.

Comment by Bob Rock on August 12, 2014 at 2:29pm

And will they build the cracker now? I will say no.

Comment by Trapper on August 12, 2014 at 2:11pm

http://ir.rexenergycorp.com/releasedetail.cfm?ReleaseID=865896

Comment by Bob Rock on August 12, 2014 at 2:09pm

And the James well too!

Comment by Bob Rock on August 12, 2014 at 2:09pm

I hope that Chevron well is the best well in Pa. and Ohio!

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