Comment

Comment by RJS on January 17, 2013 at 9:13am

I live within a mile of the well and wanted to post that is was being flared, but did not yet have an ID and got scooped.  The sky was lit up all night.  I did not take a picture.  My understanding is that the horizontal goes under our property, so we are anxious for some results.

Comment by Bob Jenness on January 17, 2013 at 8:31am

Wonderful!  We've all been waiting what seems like forever for this event.  How 'bout another photo taken at twilight with some nearby object visible to calibrate the size?  Or some inside skinny from someone with good G2?

Big, medium, or modest, this proves that Crawford Utica is worth drilling:-)  Thanks, Dave and Buddy for the quick post.

Comment by David Hunt on January 16, 2013 at 3:52pm

My buddy sent me this picture and said they started flaring the Lippert well this morning

Comment by gary smith on January 13, 2013 at 4:40pm

from cabots web site....    cabot is expected to participate with range resources corporation in a utica/point pleasant test well in northwest pa. ''we have 100000 gross and 50000 net acres in the play as a result of deep rights retained in an asset sale in 1997'' said dan dinges, chairman,president and chief executive officer.''all indications place this acreage in an attractive position within the wet gas window of the utica''.  this is from april 2012.  maybe with cabot involved there will be more action as the infrastructure gets put in place.  cabot is the second largest producer in the marcellus. they set a record 24 hour production of 752 Mmcf in september.

Comment by Ronald L Wilcox on January 11, 2013 at 2:45am

Nice work Berk,this type of data is what this site needs more of.I wonder how they establish such a definitive northern boundary for the Pt.Pleasant?It was also very encouraging to see a major oil producer consider this area as a "sweet spot".

Comment by Berk on January 10, 2013 at 2:24pm

The latest on Halcon.

 http://files.shareholder.com/downloads/ABEA-5X1N65/0x0x626515/d74ef...

Comment by Berk on January 10, 2013 at 2:19pm

Very interesting article that I could understand (mostly).

http://www.encore-energy.com/uploads/Oil%20and%20Gas%20Investor%20_...

Comment by Bob Jenness on January 9, 2013 at 10:15am

Berk,

Apologies if my tone was too insistent.  I'm sure the investor information assumes we all know the answer, or maybe even it's obvious to all you more knowledgeable folks.  I just couldn't tell whether those numbers ever get offered to landowners or if they always go to a middleman and thus include unitization services, or whatever the precise term would be.  I have heard on this forum that it is normal business for middlemen who flip, pre-lease, unitize, do title and prior lease research, etc. to expect reasonably to be compensated for their "value add".  I also suspect that what Halcon quotes to their investors is very different from the exact average of lease bonuses received by their landowners.  One's retail, one's wholesale, or something like that.  We need to be careful on this to keep expectations well calibrated and lease negotiation goals properly founded on clear and precise facts.  If we could know what's reasonable compensation for the value add, we'd be even better prepared.  It is nice, however to think that I can even start a lease negotiation at those values:-)

Comment by Berk on January 9, 2013 at 9:45am

Bob,

I'm not clarifying anything as I stated I copied and pasted this directly from their investor's memo. 

Comment by Bob Jenness on January 9, 2013 at 8:10am

For Berk, regarding the Halcon December numbers...

It would be real helpful if a post like this made explicit the implied "markup" factor between landowner lease bonus rates and fully unitized cost to the E&P Company.  I've heard that can be 2X, and I can't tell from your post whether the numbers are wholesale or marked up.  Thanks in advance for the clarification.

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