Shell (swepi) pulling out of mercer county...

Heard swepi is pulling out of mercer county all wells are bad. That is why halcon left.

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Permalink Reply by David Perotto on December 25, 2013 at 3:34pm

TNC,

Could you cite some sources? I have a very hard time believing that wells are poor producers in Mercer County. The geology is solid in Mercer County and there should be very few poor areas. Specifically the depth of the Utica is optimum, there is a fairly thick layer of the Point Pleasant in Mercer and the total Utica thickness is good as well. The total carbon should be adequate throughout Mercer.

Merry Christmas,

Dave

Permalink Reply by cecil on December 25, 2013 at 4:03pm

TNC:   Really, I guess Hilcorp didn't get the memo!!!

Permalink Reply by Trapper on December 25, 2013 at 4:45pm
I think someone has Christmas confused with April Fools Day!
tnc you're such a kidder!!!!
Permalink Reply by Elnathan Cory on December 25, 2013 at 5:25pm

Seriously? Sounds like total BS.

Permalink Reply by JREwing on December 26, 2013 at 1:06am
So Swepi flares its very first Utica well in the county a week and a half ago (Palmer) and they've already decided to leave the county? That's a lot of extrapolation from just one well. I think I'll wait and see.
Permalink Reply by paleface on December 26, 2013 at 1:45am

 Mercer County Ohio?

Permalink Reply by gary smith on December 26, 2013 at 2:55am

my gosh, there are three strata here worth going after isn't there?

Permalink Reply by MJ on December 26, 2013 at 3:08am

I wonder if tnc and snort widley are related?

Permalink Reply by cheliped on December 26, 2013 at 3:40am

they have Permits to plug wells in Butler county and they are not renewing leases.  This news seems consistent with a possibility that Shell may not have any interest in Butler or Mercer.  Is it the area or Shell?

Permalink Reply by Paul Butler on December 26, 2013 at 3:54am

I believe it. 

In October, the former CEO of Shell stated that the biggest regret in his 25 year career was the 24 billion he bet on North American shale.  He further stated he was highly skeptical of production claims made by the Okies concerning wells they had completed in WV and Ohio. 

The general rule is that if Okies can cook the books, Okies will cook the books.  I'm in Houston, after 28 months in Pittsburgh.  I'm on to the next big thing.  Smart people told me to forget the Marcellus/Utica, that it's a scam.  There are very, very few actual "oil people" who think that both the Marcellus and Utica are not scams.  I hope they are wrong.  I loved Pittsburgh and the surrounding areas.  Decline curves my friends-- the word is they are looming and portend disaster.  Today, the remaining players have actually stopped using Landmen to do the landwork.  That is a really bad sign. 

Permalink Reply by Jim Litwinowicz on December 26, 2013 at 5:27am

Thats pretty funny since the same guy said, after selling its Ohio Utica leases, "we are going to concentrate on our Pa holdings."

And this "scam "  must be a dang good one since it has convinced multiple companies from E & Ps to pipeline to processing companies to spend tens of billions there.

One question.....how did these companies become so huge and successful if they can be so easily scammed out of so much money?

Permalink Reply by fracking good on December 26, 2013 at 4:33am

generally speaking, Halcon, Hilcorp, Swepi and Chevron all swapping leases to establish territories, from P.A. recorders website Swepi getting N.E, Hilcorp and Chevron getting South half and Halcon N.W. Halcons stock tanked from a a 8.28 dollar high a year ago to a 3.80 low today, to much debt acquiring leases. From what I read Halcon sold a lot to Swepi and made a profit on the deal. NOBODY LEAVING MERCER

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