Replies to This Discussion

Permalink Reply by Frank Nesmith on September 12, 2012 at 8:33am

Since CHK sold the non-core assets that were announced today, I'm wondering if the Beaver county wells were part of that. Does anyone know?

Permalink Reply by industry resident on September 12, 2012 at 3:29pm

i guess time will tell. Post gazette pipeline article states royal dutch shell was the buyer. I did see on recorder of deeds site Mclendon has recently borrowed money on leases in ohioville. From what i hear a different gas /oil company could not be much worse.

Permalink Reply by craig on September 12, 2012 at 3:41pm

I don't believe that our area was part of what was sold in the Utica play. The reason I say this is that I firmly believe that our area and Eastern Ohio are capable of multiple (3-4) plays including the Utica, from the same leases and pads.

Easy money, especially when natural gas recovers in price some. 

CHK also sold either part or all ( I didn't read the whole document) of their(CHK) royalties for the Rolling Acres site to what appears to be a private investment group out of NY.... Is recorded on the county website.

Permalink Reply by Jason on September 12, 2012 at 5:07pm

I agree with Craig, CHK did seismic testing throughout southern Beaver County 18 months ago and northern Hancock county 12 months ago.  They just drilled the first Hancock county site in February with one bore and plan on five more in the future at the site. 

CHK just leased about 40,000 acres with the Mt. Jackson group 11 months ago that was a majority of Beaver County with small portions to the north, south of Beaver county. 

12 months ago, they still had a deficit, albeit not as severe as it is now, but I just don't think they would jump into that without knowing full well what's under us.  IMO

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