Replies to This Discussion

Permalink Reply by TM on August 14, 2013 at 2:09pm

I would think they had a royalty interest in Troyer well too. Most of land around Troyer well is HBP Enervest as well. Enervest probably just kept some royalty interest when they sold the deep rights to other drillers. They do seem to be keeping the Beachy results quiet for some reason. That one article months ago claimed the Beachy well could be the key for the Utica oil who knows.

Permalink Reply by JR on August 14, 2013 at 2:14pm

We are all CNX-held from a deep driller standpoint so the enervest component is new to me. Also, I wonder who their "privately held partner" is, as referenced in other articles. It appears they too have acreage in the area.

Permalink Reply by TM on August 14, 2013 at 2:44pm

Enervest is essentially getting paid from the working interest in the well from Consol. Enervest just kept an ORRI when they sold the old leases to Consol is my guess.

Permalink Reply by Paul Martinelli on August 15, 2013 at 1:20am

i agree with that .....It seems that Enervest in the past was content to just maintain royalty interests in deep utica wells and focus on shallow wells only.   Seem s now they want more of the action......forming the JV to drill 20 wells in Tusc./Stark. 

 

Information/data can change ones' mind quickly...as you said, perhaps this is the reason.

 

Seems if Enervest starts puttin UNITS together they will need lease ammendments on most of the HBP acreage.   Anyone cross that bridge with them yet?   Since they are the lease holder and will be the driller ( or a partner), there should be more left on the bone for the landowner for bonus/royalty increases......more so than when they sell out and maintain a royalty interest.

 

 

 

 

Permalink Reply by TM on August 15, 2013 at 7:45am

I read in a presentation that Enervest has a 1.3 percent ORRI in Tusc on their acreage and 2.7 percent in Stark County. What I wonder is who is putting up the money and capital to drill these 20 wells? At 8 to 10 million a well this won't be a cheap exploratory drilling program. Is it coming from investors or the companies? Enervest wanted to not spend capital to drill wells on their own why now? In the end they are doing this JV just so they can find an oil window sweet spot and try to sell the acreage for big money.

Permalink Reply by Paul Martinelli on August 15, 2013 at 7:51am

either  derisk the area and sell.......or stay in the JV and produce it and cash in even bigger.

 

Just seems odd that they chose to all of the sudden participate in a JV and drill.

 

Really need to know who is financing this...........maybe it is a potential buyer.....here is some cash....show me what the area is worth!

 

 

Sepeculate all we want....either way it is good news and progress for us in the Tusc. valley.

Permalink Reply by Carmella Guisinger on August 14, 2013 at 2:20pm

There is a rig on the pad again.....but I don't know any details.

Permalink Reply by TM on August 14, 2013 at 2:33pm

Is it the big rig or a small rig?

Permalink Reply by Carmella Guisinger on August 14, 2013 at 3:29pm

I really don't know, it is about the same height as the rig that drilled it, but I can only see the top half. I may walk back tomorrow and get some pictures, if I have time. According to my pics from last fall, it's not the exact same rig.

Permalink Reply by TM on August 14, 2013 at 3:46pm

Might be a service rig going to run the production tubing in the well hard to say really. Could be good could be bad who knows.

Permalink Reply by Mark A Miller on August 14, 2013 at 11:58pm

It went past my shop (Millers Seamless) here a few days ago, its a service rig, also have seen some Nabors traffic again, but hard to tell what's up...

Permalink Reply by Carmella Guisinger on August 15, 2013 at 12:21am

Thanks! I'm so glad you clarified that, since I haven't seen much well traffic to say it's a drilling rig. Other than workers and a few oil tankers go here and there, I haven't seen much traffic from it at all.

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