Comment

Comment by Bob Rock on January 13, 2016 at 12:27pm

O there's more to story. Lol.

Comment by WTF on January 13, 2016 at 10:15am

Good news press release John, Possibly Hilcorp can kick drilling in this area in high gear again. 

Comment by JohnL on January 12, 2016 at 12:07pm

Hilcorp/Carlyle joint venture press release

https://www.carlyle.com/news-room/news-release-archive/hilcorp-and-...

Comment by Bob Rock on January 11, 2016 at 12:58pm

Jrwing and john l check your inbox.

Comment by Dexter on January 8, 2016 at 11:06pm

Thanks for all the info John!!!

Comment by JohnL on January 8, 2016 at 5:07pm

Dexter- wait until you get what is called a Unit Designation and a Division Order Title Opinion from Hilcorp before contacting an attorney. Basically is will be a decimal fraction of the royalties based on the total unit acreage, your acres in that unit and the contracted royalty percent. Have a lawyer review that along with your original lease agreement to be sure they are correct. You probably won't see any paperwork until late summer or early fall, 3-4 months or more after production starts (gas moving thru a pipeline).

Hope this helps. Just be patient. It takes a while. It will happen, just not as fast as you would like.

jl

Comment by JohnL on January 8, 2016 at 4:52pm

Dexter- it will be a while before the wells go in to production. They will be there fracking for several more weeks. They will rest the wells for 60-90 days before they put them into production. PA now requires the drillers to report their production on a monthly basis. Normally the reports are available after the 15th of each month. For example after Jan 15th they will report the November 2015 production numbers.

You can find those reports on the DEP website.
https://www.paoilandgasreporting.state.pa.us/publicreports/Modules/...

Comment by Dexter on January 8, 2016 at 2:49pm

Also, how will we know once production starts? They have been fracking for a few weeks now. Is there a reliable website to see when production starts?

Comment by Dexter on January 8, 2016 at 2:45pm

John that is what it was. All of our leased acres are included in the unit. What papers should we have reviewed by an attorney? What will these papers be that will differ from our original lease paperwork and terms? I know there is atleast 2 different units for the wengerd well. I believe the ones headed toward 80 are a unit and the ones towards 318 are another unit. Our acerage is all in the same unit.

Comment by JohnL on January 8, 2016 at 2:30pm

Dexter-
this is an operating agreement between Hilcorp and its partners. It defines how expenses/revenue are divided. The map and list is for the properties that will make up the Wengerd drilling unit(s). There should be 2 columns on the list of properties that show leased acres and contracted acres. It's possible that all leased acres may not be in the drilling unit. Compare your known leased acres to the list. Check to see if it matches acre for acre. It's also possible that you acres could be split between 2 diffent drilling units within the Wengerd unit. You will eventually receive a division order that should match what is in the agreement (most likely 120+ days after production starts) I would recommend that you have an attorney review before you sign anything.

John

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