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Comment by Gary Cunagin on June 23, 2011 at 2:56pm

Tim, Thanks, that good news.  I would much rather have a well than a large bonus.  There is are several large pipe lines close by.  I am joining several of my neighbors to form a drilling group.

 

 

Comment by DrillBABY on June 23, 2011 at 11:34am

Gary, PDC is a "moderatly" active driller in the Marcellus currently. They keep one rig drilling fulltime, turning out quite a few Marcellus horizontals/year. The bulk of their Marcellus activity is presently in the Clarksburg, WV area where they are making very good Marcellus wells. PDC is a small, independent OG operator who probably can't afford the big lease bonus's that the CHK's of the world can offer. However, I would venture to say that any acerage they would obtain would be more valuable (more likely to be drilled) than most of the big boys. I'm interested to know if PDC has already picked up addtional leases in your area? Another thought that comes to mind, is there any large transmission pipelines in your immediate area?

Comment by Gary Cunagin on June 22, 2011 at 2:09pm

Finally have a lease doc in hand.   Offer is for $200 per acre and 15%.  The company is: Petroleum Development Corporation from Denver, formerly from West Virginia.  Landman stated there would be a committment to drill in 2 years, but I don't see that mentioned in the lease.  Also the 15% was to be at the well head, but the lease states various taxes would be deducted.  So, we are going to have to talk. No Pugh and not landowner friendly.  Any one else dealing with these guys?

Comment by Gary Cunagin on June 7, 2011 at 6:01pm

Thanks Keith

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