Paul geiger's Blog (5)

$4000-5000 is here

ExxonMobil Corporation (XOM - Analyst Report) is all set to exploit Ohio’s Utica Shale, supposedly one of the biggest sources of crude oil in the United States. The company has made its entry into the oil-rich fields of Utica Shale by acquiring leases in…

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Added by paul geiger on September 24, 2011 at 5:01pm — 2 Comments

UTICA PLAY

Hess and Consol team up for Utica

US independent Hess has staked a claim in the simmering Utica Shale play in Ohio after a $593 million joint venture with coal and gas giant Consol Energy, announced on Wednesday.

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Added by paul geiger on September 8, 2011 at 3:00pm — No Comments

Marcellus earning

All of the major, publicly-traded companies drilling into the Marcellus Shale have reported their second-quarter earnings. Thanks to SeekingAlpha, transcripts from those calls are publicly available and easily searchable.

Here are some of the major takeaways in the reports:

Exco Resources:

  • Spudded seven new operated wells and drilled and completed 6 gross (2.7 net) operated wells during the second quarter 2011 in the Marcellus shale. The IP [initial production]…
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Added by paul geiger on September 3, 2011 at 2:21pm — 1 Comment

Money can do wonderfull things

Please read the last sentence

A group of more than 400 Carroll County property owners has signed a lease agreement with a Pennsylvania oil company, earning $40 million in bonus money in the deal.



The group, called S.U.R.E. (Standing United Really Excel), signed the agreement June 1 with Rex Energy of State College, Pa.



The members — living in Washington, Augusta, Harrison, Center and Union townships in the central part of the county —…

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Added by paul geiger on August 30, 2011 at 7:30am — No Comments

$ 5750 With out the oil

Found this OTE: Group signed lease with Chesapeake, terms: $5,750/acre and 20% royalty (see website for details)
Area covered: Wyoming County PA
Membership: 45,000+ acres

Added by paul geiger on August 19, 2011 at 8:35pm — 5 Comments

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