Activity in the County (Leases, infrastrature, drilling)

Just was curious to hear of any activity going on in Venango county.  Anything from talks of leasing, to actually signing on the line of a lease. 

What have the offers been for potential leases?  Any good addendums you were able to negotiate?

Has anyone heard how the completion went for the Seneca Resources well?

Hopefully 2012 will hold a lot more activity for this industry founding area.

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Replies to This Discussion

Permalink Reply by Patricia M Giambalvo on July 8, 2014 at 4:22am

Is Xun Energy leasing or drilling in this area? I think they partner with Vencedor.

Permalink Reply by deer spotter on July 8, 2014 at 5:09am

The last I heard of those two companies was 2012. Have not seen or heard of any drilling permits from either company.

Permalink Reply by Patricia M Giambalvo on July 8, 2014 at 6:45am

Thanks for letting me know. They have posted on their site that they have been drilling there and that they found and sold oil (June 2014.). I am an investor and I have been very suspicious of these postings. thanks again.

Permalink Reply by JREwing on July 9, 2014 at 6:38am

I did a little snooping for you.  The permits for the wells Xun Energy claims they have leased are listed under "Northeastern Consolidated Energy Partners, Inc."  NCEP is the permitee, which does not necessarily the make them the Lessee.  There must be leases/agreements recorded between the parties as to who drills, who operates and how much each profits from the wells.

http://www.ahs.dep.pa.gov/eFACTSWeb/searchResults_singleSite.aspx?S...

Unfortunately, I have no way to determine the relationships between Xun, Vep(Vencedor) and Northeastern Energy Partners or their indidvidual interests in the wells.

Your best bet to find out more "real" information would be to pay an abstractor or Atty. to research the lease for Byron R & Elizabeth J Rice (54.58 acres) in the Venango County, PA courthouse to find out who's who and what's what.  I am fairly certain that that is the property/wellsites most recently referred to on the Xun website.  If you have $500 invested with Xun, it's probably not worth the trouble; if you have $50,000 invested, then it might be worth your while.

If the leases/wells were in Mercer County, I'd be happy to take a look for you gratis, but I don't have access to Venango County records online and it's very expensive access to boot. $1.10/minute or something.  Highway robbery.

Permalink Reply by Patricia M Giambalvo on July 9, 2014 at 6:55am

Thanks JR, that is very helpful.

Permalink Reply by deer spotter on July 9, 2014 at 7:47am

I believe the Rice property was drilled in 2012, But the name drilling was Lundurm Shallow oil only. Do not know if their is a connection.

Permalink Reply by Brian on July 9, 2014 at 7:52am
According to the DEP site the Rice wells were permitted for Cranberry Twp. It looks like according to the company website videos they have one drilled and producing well.

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