Comment

Comment by Chris Crawley on March 26, 2014 at 6:03am

Halcon was issued new permits today for Allam & Rainbow wells..So much for the "goat pastures"..

Comment by james on February 21, 2014 at 7:03am

At gas price trading around $1.50-$2 less then 2 years ago and Hilcorp, Halcon, Shell, Chevron were paying landowners $3000-$4000 per acre bonus and leasing as much as they could and now gas is trading over $6, it's makes no sense for them to not even be more active?

Comment by james on February 21, 2014 at 6:58am

Maybe with them filling in some holes with recent new leases they no longer need the Rainbow site, they could drill a lateral that could reach the Rainbow site from the Allam well or close to it. I'm not sure what the reasoning for that is but I know they just leased several hundred more acres in that area and everyone got paid but one person do to deed issues. Halcon and Hilcorp are very active in this area, Shell /Vista, are even starting to slowly pick back up, a bunch of them were at Grathams last week meeting in the banquet room, not sure why?

Comment by Debbie on February 21, 2014 at 6:56am

And don't forget the politics factor.  I saw an ad on a Pittsburgh station where the candidate was saying that if they get elected they pledge to get an Extraction Tax placed on O&G.  Well, now, isn't that a fine way to discourage extraction, especially when you can't get it cheaply to market?  Might just see a lot more on hold until after Nov. 

Comment by JREwing on February 21, 2014 at 6:48am

James, I never implied they were "done."  Speaking specifically about the proposed Rainbow well only.

Comment by james on February 21, 2014 at 6:45am

I think Halcon is bluffing also, thy know the gas is there and they know it's good. Less then 3 miles away Hilcorp is going to be drilling wells on the Morton farm, Lyons farm, and rumor Sandy Lake sportsmanship Club. I live in the middle of all this activity and Halcon is also still leasing according to some of my neighbors. If they are done in the area, then why are they still leasing.

Comment by JREwing on February 21, 2014 at 6:38am

Debbie, while I appreciate your comments, Halcon is not just making the well inactive.  They are plugging it (a joke, I agree, since there is essentially nothing to plug but an 8' diameter conductor hole).  Our understanding is that there will be no Rainbow well as planned and I have other information that suggests other well pad plans in the works have taken it's place.  I suspect that the Commonwealth properties that lie both to the northwest and southeast of the intended well may have been it's undoing, however, I have no solid evidence to support that theory.  

Comment by Debbie on February 21, 2014 at 6:25am

Not unexpected and not totally bad news JR.  Everyone knew all along that the issue was getting the gas out of the area.  Now obviously they have found enough to like that companies are pursuing the pipelines and infrastructure needed.  Pipeline away from Allam has to happen first....looks like that is a go.  Pipeline from Rainbow to Allam on hold....expected.  Also, from careful looking, it seems as if the Rainbow well was never completely done.  (Makes sense, why spend the money if no way to move it out and you already know you are interested in the area).  I don't know the technical difficulties involved with uncapping and finishing up at Rainbow when the time is right, but from my experience in another competitive field it makes good business sense.  I worked in R&D for a pharmaceutical company and we all the time trying to get the competition to think we were not interested in something when we really were and trying to get them to think that we were working in another area when we weren't.  That is how you play the game in an industry where there is potential for big profits but also the potential for big losses and where the window to make money is quite small especially if the competition can guess your strategy.  Well, time will only tell won't it? 

Comment by JREwing on February 21, 2014 at 5:02am

And unfortunately for the folks involved in the Rainbow well, they have also applied for a permit to plug the Rainbow well.

http://www.ahs.dep.pa.gov/eFACTSWeb/searchResults_singleAuth.aspx?A...

Comment by JREwing on February 21, 2014 at 4:26am

Halcon just permitted a pipeline from the Allam well to the Pilgram well.

http://www.ahs.dep.pa.gov/eFACTSWeb/searchResults_singleAuth.aspx?A...

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