WHAT IS UP WITH THE UTICA WELLS BEING PLANNED AND DRILLED IN VENANGO COUNTY? IS THE PLAY OIL?

A lot of activity going on here. Is the play going to be oil? Anyone with any insight? 

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Permalink Reply by JREwing on November 12, 2012 at 3:37am

The only two wells I am familiar with in Venango are the Halcon Allam and Rainbow wells.  Allam has been being drilled since 10/25, so going on it's third week of drilling.  Not much going on at the Rainbow pad due to the drilling on Allam I suppose.  I have no idea what they expect to find.  Maybe they don't know either.

Permalink Reply by TheMap on November 12, 2012 at 6:50am

Range is drilling in Venango, a followup to the one in Cochrantown.  I think they are trying to define where the wet gas (and or oil) is since the geology indicates the conditions of the Ohio sweetspot may move to the NE (into NW PA).  Also Range has a lot of acreage HBP and they want to know what they are sitting on.  I have no inside or special info, just what I have seen in company reports, etc.  I am further to the north, so watching what happens to my SW hoping it will be good here also.

http://phx.corporate-ir.net/phoenix.zhtml?c=101196&p=irol-prese...  Page 25 of the October 2012 presentation.

Permalink Reply by John Stanton III on November 13, 2012 at 12:41am

I had heard Seneca Recources drilled a Utica test well near Polk last year. 

Permalink Reply by John Stanton III on November 13, 2012 at 12:47am

Range has several Utica wells planned for Venango, landowners are being notified. It has to be oil. Ben Hogan and French Kate again?  Do the big boys (Exxon, Shell, or Chevron) have anything leased in Venango?  

Permalink Reply by Billy Park Whyde on November 13, 2012 at 3:58am

 If they believed they could hit a gas well that could produce say gas in the quantity of the Gulfport Wagner well they would still be in a  profitable situation. I know the gas prices are low but  quantity can make up differences.  

Permalink Reply by George Mac Pherson on November 13, 2012 at 4:36am

As we speak Chevron is drilling a Utica well in nickelville  pa the rig is small but it is there

Permalink Reply by John Stanton III on November 14, 2012 at 12:15pm

Range and Halcon must be trying to get a foothold before the bigger players move in.  Theory being the geology is the same as the oil play in Ohio.  I don't believe Shell or Exxon have anything leased in Venango.  Does Chevron have much acreage?  The early bird very often gets the worm.

Permalink Reply by Brian on November 14, 2012 at 2:01pm

Chevron has approximately 1500-1800 acres here around Nickleville currently leased or lease under motion.

Permalink Reply by John Stanton III on November 14, 2012 at 4:06pm

Good lease terms?  Addendums?  They are still leasing around Nickleville?

Permalink Reply by owner on November 15, 2012 at 2:02am

Halcon is planning a well on the sandy creek conservancy property off of Polk cutoff in Sandy Creek township.   Signs are up for well trafic but I think that is all that has been done.   I have property adjacent to this property and they are working with me to try to get a pipeline right of way through my property for the well.  I have been told it will be a utica well, but not sure how accuate this information is. 

Permalink Reply by Jack F. Moreoil on November 15, 2012 at 9:02am

Mark...there seems to be a lot of activity starting up in Venango County.  Lot of testing right now, but there must be something significant since four companies are drilling into utica.

Permalink Reply by Jack F. Moreoil on November 15, 2012 at 9:06am

I hear landowners in Cranberry Township have signed with Shell and Halcon.  Several of them have been paid to date.  You would think Shell would want a piece of this action and drill in Cranberry since no one else is currently. Halcon is drilling to the Southwest; Range to the northwest; Chevron to south and south east

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