Comment

Comment by rex roae on April 2, 2013 at 7:55am

It was brought to my attention that Fernwood Conservancy and Marc Resources are 2 separate entities and have no connection.

In light of that info, we are reconsidering Fernwood's offer and I believe we will accept.  I'll let everyone know how it turns out.

Comment by rex roae on April 2, 2013 at 1:36am

Also spoke with Range Resources a couple weeks ago.  They said they should know within a couple weeks whether they are going to be leasing in Crawford County again after they get more info from the Lippert well.  Currently they are concentrating on Venango County.

Speaking with a couple of people involved in the drilling industry on the prospects for Crawford County, the term, "the calm before the storm", keeps popping up.   Not sure what they know that we don't but maybe the oils in the Lippert well are promising.  Could mean something but I like hard numbers more than I do speculation.

Comment by rex roae on April 2, 2013 at 1:07am

Jim, the company was Fernwood conservancy which I believe is related to Marc resources.  Marc resources was the company which last year first offered me $300 an acre for my ogms for the land which is held by production.  They upped that offer to $500 an acre last December but I wasn't interested.  Not sure what areas in the county they are concentrating on.

Just to be clear, they are looking to buy ogms, not lease them.

Also, their attorney is in Meadville in the same office as our long term family attorney.  After speaking with their attorney, I believe they are legitimate.  They've closed 3 deals since Jan and have 2 others ready to close according to their attorney.

Comment by jim hall on April 2, 2013 at 12:28am

Rex, Who is the company ? Are they interested in other areas in the county ?

Comment by rex roae on April 1, 2013 at 4:04pm

A company offered to buy our leased ogms for $1,500 an acre in Wayne township that is held by production.  Also offered $2,500 an acre for  the ogms for our unleased land that sits adjacent.  They also offered to buy a parcel of land we own in East Mead for $4,000 an acre.  That piece is also unleased and has some timber.   This was a package offer that would have been a little more than half a million and we considered that a very good offer but have decided to think about it awhile.

Comment by sldouglass on March 24, 2013 at 2:27pm

You may have noticed the article in today's Post-Gazette about sending all our nice wet gas to Texas in a pipeline for processing there

Comment by sldouglass on March 24, 2013 at 2:17pm

Lots of considerations on a new pipeline agreement - probably more than 3 dozen things to think about. Old right of ways may well include the right to lay additional lines. Current R/Ws should be limited to one pipeline at say $20/foot, more or less, depending to some degree on how many inches in diameter. Remember that pipeline R/Ws are like walls that you cannot cross or interfere with - except in a manner that does not interfere. Sometimes they are innocuous, sometimes they are monsters. And the possibility of a blow up a blow up occurring increases over the years with unattended pipeline deterioration rotting and deterioration..

Comment by sldouglass on March 24, 2013 at 2:06pm

I am curious about Bob Jenness's question about old well gathering and liquid separation.
I am extremely doubtful that any of the equipment used at conventional wells is part of the picture with unconventional shale wells-perhaps some initial gross separation of oil and liquid from gas.
In and about southern Ohio seven plants - maybe $1,000,000,000 each - are abuilding to handle this kind of work.
See: http://green.ohio.com/business/companies-investing-heavily-in-ohio-...
Something like cryogenics is involved in which the wet gases are frozen and different components like propane, ethane etc. are taken off at different temperatures.
Any rough local separation may be an excuse not to pay separate royalties based on the price ror separate constituents from the more sophisticated separation.

Comment by Bob Jenness on March 24, 2013 at 12:52am

mark, and all,

Good catch on the Dominion JV.  As I started to read it, I began to wonder if the old vertical well gathering infrastructure can be used to gather liquids (if they can separate them at the wellhead) from the new Horizontal wells.  Any experts who can answer this?...

Comment by David Hunt on March 23, 2013 at 1:59pm

Was just told by a friend that Halcon is done drilling the staab well and it is scheduled to frac in about two weeks 

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