Does any on know about halcon in frenck creek township in venango county are they drill any more wells thank you

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The answer is NO! They are trying to sell their Venango County acreage and all of their Northern Utica acreage and perhaps their southern Utica acrage as well. A barrel of oil sells for north of $90/ barrel. A boe (barrel of oil equivalent) of natural gas is 5500 cubic feet. With gas at $4.00/1000 cubic feet, 1 boe is worth precisely $22. The drilling rigs used to drill for oil and gas are identical. Halcon is currently drilling in the Bakken and in Mississippi where Oil is present in large quantities. If they recover some gas with the oil, the gas is just icing on the cake. It is possible the gas might even be re-injected into the well creating pressure to enhance the recovery of oil which per btu is worth roughly four times what a btu of natural gas is worth. 


What does that mean to Landowners who currently have leases with Halcon? 


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