Anyone know the extent of the additional Tioga County leasing SWEPI has planned? The last (and only) time I was contacted by one of their landmen was 4+ years ago. He was going to get back to me "next week".
I'm in NE TC, where most of the existing wells are single horizontals, drilled by ERI and now owned by Talisman. My best guess is that SWEPI is filling in some of the gaps (unleased property) ... not that they have development plans. Anyone have any info (or guesses)?
I don't know, Ann. I was leased 3 years ago (5 year lease). They never bothered to put me in a unit, even though 20 acres or so of my property is sticking right into the rectangle of a declared unit (a vertical well not in production). How much trouble would it be to include me in an existing unit just to hold my lease? It's looking like they'd just as soon let it expire in 2 years.They seem to have completely lost interest, at least in Delmar township. They only wanted me to lease so they could include my land in the 3-D survey.
there is interest in Clymer twp
How much trouble, Lynn? That depends on your royalty fraction and on other of your lease specifics. Gas companies today are perfectly content to allow many undrilled leases with high royalty fractions simply to expire.
Mine is the standard 15% boilerplate lease everyone else was getting at that time (but with 'no surface disturbance' clause). I think they just have no plans to develop any more wells in this area.
It likely will be developed, Lynn. Just not nearly as soon as you would like. There needs to be enough long-term (~20 years) commitment to using dry gas to move the price up.
Josie; most people around me are leased. My across-the-street neighbor is in a unit (Fuleihan), but just the back tip of his property. There is a strip of land about 1500' wide between the Kennedy unit and the Fuleihan unit to the south-east. That strip includes most of the properties on my street, including the one leased by Williams. About half my property would be in the kennedy unit (if they choose to include me) and the other half would be in that 'no man's land' between the units.
The Fuleihan well itself is on Balsam Road, just south of Morral Road (Delmar Township). The unit extends north/west almost to the corner of Routes 362 and 660. It's parallel to the Kennedy unit, but there's a space about 1500' wide (my 'no man's land)' in between the two units. I don't know if this space is wide enough to make another unit, so I'm wondering what will happen with it. I don't think the Fuleihan well is in production.
I think it was drilled by SWEPI 3 or 4 years ago, in that drilling spree when they drilled the Baker wells and Butler wells in this area.
they hit 2 homeruns and a grandslam on Sharrett Pad in Clymer Twp and appled for another well DEP 09/11/2014...............
That should tell you something...............they are lowballing and locals are caving
My sense is that qualified operators are attempting to secure leasehold positions in the sweet spots that have been identified by 1) the extensive 3D seismic surveys and 2) test wells drilled to hold the major lease blocks. If a gas company is knocking on your door - chances are, your acreage is in an attractive area.
Carefully evaluate any offers!
Based SWEPI's Utica results, expect to see additional leasing activity for acreage where the leases have recently expired.