"Seneca Resources Corporation Announces 2012 Operational Guidance"

"(March 28, 2011) WILLIAMSVILLE, N.Y. – Seneca Resources Corporation (“Seneca”), a wholly owned subsidiary of National Fuel Gas Company (NYSE: NFG) (“National Fuel” or the “Company”), today announced its preliminary production and capital expenditure guidance for fiscal year 2012.

 The Company is providing a preliminary production forecast range for the entire 2012 fiscal year of 83 to 100 billion cubic feet equivalent (“Bcfe”), which includes 58 to 71 Bcfe from the Marcellus Shale. In addition, the Company’s capital expenditures in the Exploration and Production segment for fiscal 2012 will be in the range of $685 to $800 million, including the planned drilling of 115 to 140 gross horizontal wells in the Marcellus, of which 80 to 95 wells will be operated by Seneca. The remainder will be operated by EOG Resources, Inc. (“EOG”) under the existing Seneca-EOG joint venture.
        
“We are anticipating another strong year of production growth in fiscal 2012,” said Matthew D. Cabell, President of Seneca. “We are experiencing great success in our focus areas in Tioga and Clearfield counties, with net production growing from about 15 million cubic feet (“MMcf”) per day to more than 120 MMcf per day in the past 12 months. ”  ..."

http://www.nationalfuelgas.com/news/03-28-11%20-%20Seneca%202012%20...

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Replies to This Discussion

Permalink Reply by William Ladd on March 29, 2011 at 2:53am

Well that should help to open up our area for a few more drilling sites. I hope so anyway. In a private conversation something was said about Dominion was willing to discuss their storage areas. But I do not know what! Hope they are not figuring on increasing their storage area for a $2.00 per lease! I'd think by now every land owner would be aware of what took place for many of us and boot any landmen representing  Dominion.

 

Bill L.

aka Bummy

Permalink Reply by Lynn Wigglesworth on March 29, 2011 at 3:55am
Seneca has the gas lease for the State Forest land in northern Delmar township. I understand they've been leasing a lot of the private land around the forest land. That's probably where they intend to drill.
Permalink Reply by Ann Ticopa on March 29, 2011 at 5:19pm

Did a little digging on Seneca in TC.  In the 2008 DCNR lease sale, Seneca was the high bidder on Tract 595 (6,689 acres), in TC.  The July-Dec, 2010 production reports show a number of T-595 wells, several of which are producing.  The DCNR seems to have removed the maps for that sale, but the production reports show the T-595 wells are in Bloss and Covington Twps.  Also found that Seneca had bought some EOG wells in Covington Twp early this year.

 

In the 2009/2010 DCNR lease sale, Seneca won Tract 007 (10,493 acres).  It's in Chatham, Delmar, Middlebury & Shippen Townships.  Only found one well for that tract (Shippen) in the production report, non-producing.  (I didn't look in Landex for declarations.)  There is a DCNR map showing Tract 007 (4.3Mb file):

http://www.dcnr.state.pa.us/forestry/O&G/FY09-10_Tioga.pdf

 

 

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