Enervest to explore Volitile oil in Stark and Tusc.
EV Energy Partners has said it intends to keep an additional 73,500 acres in eastern Ohio and western Pennsylvania, at least for now. The acreage being retained totals 56,600 acres in Ohio and 16,900 acres in Pennsylvania.
The company said it intends to keep its shallow vertical-only wells in Ohio’s Clinton sandstone and the deeper Knox wells.
Walker also announced in Friday’s teleconference that his companies and a partner are developing a new plan to drill 20 new exploratory oil wells in three areas of Stark and Tuscarawas counties.
That drilling could begin late this year, officials said.
The company is seeking to locate and develop what’s called the volatile Utica oil window that drillers so far have largely been unable to tap.
The project’s partner was identified by Walker only as a privately held energy company with acreage near EnerVest’s holdings.
http://www.ohio.com/blogs/drilling/ohio-utica-shale-1.291290/more-d...
Could the partner be Sierra?
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Replies to This Discussion
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Permalink Reply by Ron Broadwater on
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Sierra or Chk
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Permalink Reply by TM on
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CHK is not a privately held company. I bet it is Sierra. I wonder where Consol is in this joint venture? They bought a lot of old HBP leases from Enervest in the county.
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Permalink Reply by TM on
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I bet they will drill these wells from east to west to derisk the acreage. 10 new wells should be really good data points to get this all figured out in Tusc for someone to buy and drill the area. I read there will be 2 small joint ventures wonder who the other companies are?
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Permalink Reply by TM on
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Regarding the volatile oil window where EVEP owns over 78,000 acres and the entire EnerVest family owns over 220,000 acres. We’ve partnered with a privately held company with acreage near ours.
Our two companies are currently in negotiations with both service companies and technically confident oil shale experience producing companies with the intent of forming a joint venture on a limited amount of volatile oil acreage. The intent is to form two small JVs to get 20 wells drilled in both Tuscarawas as well as Stark County. We are limiting EVEP’s capital exposure to derisk the volatile oil window.
And let me clarify something here, basically in task we would anticipate that we’ll have 10 wells drilled in Tusc. and then 10 wells in stark, and basically we’ll probably (indiscernible) those wells going East to West and the key thing is trying to get as much data as we can in each lateral. So we could end up maybe doing two different tasks of completions in each lateral which would basically what I said previously would give us 40 pieces of data based upon 20 laterals.
http://seekingalpha.com/article/1623802-ev-energy-partners-ceo-disc...
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Permalink Reply by TM on
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Consol is not a privately held company they are public. The only private energy company nearby with acreage would be Sierra. I am sure Consol is working with Enervest in some sort on well data and completion techniques to try.
Seems like Enervest knows what has went on with the Beachy well by mentioning the well in older articles I have read. Guess we will have to wait and see who is involved at a later date or by future announcements. This JV just seems to be really secretive for some reason. Enervest wants to get all this new data on wells to show to potential buyers is how I read it so far.
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Permalink Reply by Paul Martinelli on
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...It sounds like they are going to hit Tusc first...Then Stark.
Sierra has been pretty quiet since Jan......just hinting at wells being drilled.
I didn't think Sierra had the deep pockets to be the JV partner with Enervest.....perhaps there is a 3rd party.
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Permalink Reply by Brent Laner on
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Perhaps AEP, McClendon's new company.
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