Is Carrizo drilling????

I signed a lease on our property over 3 years ago in Clearfield County. It was for 4yr with 4yr extension. The 4yrs will be up in June. They did get a permit to drill over 2years ago but never did anything on property. Has anyone heard any info on if they are planning to drill on not in that area? They have a lot of acres leased there and I can't imagine that they'd pay all that bonus $ and not drill before times up. They probably will put some equipment on the property and say its HBP. Any info is appreciated!!!!

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Permalink Reply by Brad Brown on February 21, 2012 at 2:57pm

Yes they are drilling, I work for Pride of the Hills Mfg. and we supply Carrizo with GPUs and Sand Seperators, the equipment needed to produce natural gas/wet gas from the marcellus. I dont know where they are drilling but Carrizo is definetly a driller, I hope this was helpful

Permalink Reply by jeff k on February 21, 2012 at 3:04pm

CRZO issued a news release this am that demonstrates their rapid transition from gas to oil. Oil reserves and production now exceed that of gas. Furthermore, most of the company's natural gas is hedged at prices far above current market. Their Eagle Ford play is in the heart of the country's hottest oil field.

http://www.ncbr.com/article/20120221/NEWS/120229974

Their focus on oil may be in your favor to re-lease, depending on the amount of acrage that they leased in your area it could be an expendible asset

Permalink Reply by Blindsquirell on February 22, 2012 at 12:23am
Were your acres part of that permit? If so, you just may be HBP...unless your OGL has specific "bit in ground" language. Have any of the other acres in unit been accessed for devel
opment, ie access road, pad preped, etc?
Permalink Reply by Ireland on February 22, 2012 at 11:57am

yes my acres were part of the permit, our acreage alone was 4000 acres, so our land is the only one in unit. No activity at all on land. The permit was only good for 1 year and has expired. They could easily renew the permit but as of today nothing has been done

Permalink Reply by Blindsquirell on February 22, 2012 at 12:24pm
4ooo ac and time is running out...amazing! Are those contiguous acres? I find it hard to believe that the Lessee will let the OGL expire. I cant see all those acres slipping through the cracks. Is there any activity in your area? Unless you dont want the OGL to expire .. Id sit quiet and wait for a new offer.
Permalink Reply by Ireland on February 22, 2012 at 3:13pm

yes they are contiguous acres. I only own O&G rights, they were inhereted. I live in Lycoming County which is two hours east of Clearfield County, so I have no idea if they are drilling in that area. I know EXCO is drilling in the county because I was contacted by them recently about leasing another one of my properties.

 

Permalink Reply by Jim Litwinowicz on February 22, 2012 at 3:54pm

Are they all one parcel or are they several parcels? If they are several parcels, are they all under one lease or were there separate leases for each parcel?

Permalink Reply by Ireland on February 22, 2012 at 4:38pm

4 parcels all connected and on same lease, each parcel 990 acres each total 3960 acres

Permalink Reply by Jim Litwinowicz on February 22, 2012 at 4:42pm

If they haven't drilled you will most likely be getting another check when the original term expires.

Permalink Reply by Dave on February 22, 2012 at 4:25pm

eog is active in clearfield

I believe they are on the punxy hunt club lands

my son works for appalachian well svcs (recently merged with superior well) fracing it    In spite of fracing fears my son has not turned purple or grown 4 heads...and his appetite when he is at home has not diminshed

there are some of the longest laterals on that pad I have heard of

should of joined that club..........

Permalink Reply by Jim Litwinowicz on February 22, 2012 at 4:41pm

Are these very long laterals due to surface restrictions? I think the Game Commission  leased the Game Lands stipulating that all drilling had to be from off the Game Lands.

Permalink Reply by Dave on February 22, 2012 at 4:50pm

As I understand the hunt club property is 2k + acres

1240 acres is 2 sq miles so why move if you can go longggggg 21-26 stages

again only speculation from a on site hard hat......

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