Does anyone have any current information on Penn Township? Word is that drilling is about to begin, and that a number of wells are permitted or planned, but we can't find any information.
What is going on with the large land purchase of Bow & Arrow / H&H earlier this year near Wilderness Road and the landfill?
Any PT landowners have any lease offers recently? How much have they been?
Apex Energy has two wells in the process of being permitted - Drakulic (off of 1st Ave., behind Citgo on Rte. 130 on Drakulic tract; access road to be off of 1st Avenue), and Deutsch, aka Lukehart tract (on property between Meadowbrook Rd. and Abers Creek - access road to be off of Saunders Station, just across bridge on Westmoreland Side).
Dorso & Apex are the only companies that I know of that are securing oil & gas leases in Penn Twp. - 5 years with 5 year extension, $1500/acre, 15% royalties, no deductions.
As for Huntley and the area around the landfill, looks like Huntley has cinched up a large portion in that area on the east side of the PA turnpike. Never heard of Bow & Arrow.
Hope this helps.
Dorso is a broker on behalf of Apex Energy. They began leasing efforts in this area in the past year. They purchased a large acreage position in the Oakford Storage area early this year or late last year and have begun leasing around this acreage position. However, the majority of the acreage position that they purchased is HBP, Held By Production. This means that there are existing wells that were drilled that are still "producing." My immediate family lives in this area and had a title search done on their property in particular. It was determined that the acreage that holds their property is from a well that was drilled in the very early 1900's. If you were to look at one of these leases, it would be quite clear that the terms of the lease do not translate to modern language. For instance, there is no unitization language in these leases.
On the other hand, Huntley and Huntley is leasing heavily in Penn Township. I believe that the majority of residents in Penn Township have already leased with Huntley and Huntley. They have been hitting Penn Township for years. Make sure that you are checking out your options for both companies so that you get the best deal.