What's going on with Middlesex Township in Butler County?

Is anyone in the group knowledgeable about current events, particularly near Overbrook Road?  What type of unitization is in process for what well?

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Permalink Reply by Philip Thackray on January 18, 2015 at 6:07am

Lew,

Rex is using the large unit to hold the 330 Acre Brownsdale Corp property that expires in April of this year.  I don't think it is possible to reach the Brownsdale Corp, Charles Rath, old Ferguson farm properties and the properties in between Beacon and Brownsdale Road from the Stebbins pad but the properties I have listed would be held by the three proposed wells.  To fully develop the Harvey Unit there would have to be another well pad.

Phil

Permalink Reply by GM on January 18, 2015 at 7:31am

Phil, Do you know if the Edgar property east of Critchlow School rd is also Rex?

Permalink Reply by Philip Thackray on January 18, 2015 at 7:53am

GM

Edgar is Rex.

Phil

Permalink Reply by KAR on January 18, 2015 at 4:49am

It's not the logistics, it's the DEP. It's called reclaiming. The DEP requires that an operator reclaim a well pad within 6 months after operations have been completed... I guess the plans were not around to drill more wells on the pad until after it was reclaimed. 

Permalink Reply by LH on January 21, 2015 at 10:50am
Permalink Reply by RB on January 21, 2015 at 10:55am
Thanks Cat. Sorry I missed it!
Permalink Reply by LH on January 21, 2015 at 10:59am

I'm not sure why the 2nd article isn't there but here it is.

http://thecranberryeagle.com/article/20150120/CRAN05/150129988/-1/CRAN

Permalink Reply by FairMktValue on January 26, 2015 at 1:42pm

http://www.ahs.dep.pa.gov/eFACTSWeb/searchResults_singleAuth.aspx?A...

Well Rex may be on hold in Middlesex but they are permitting one just north. Sharlow is the name of the pad, and I believe it will be off Rockdale just north of Dinnerbell. 

I had heard rumor of this one for a while, and had seen survey stakes for a pipeline running north from the Reno well. Which makes good sense since  I believe the line from Reno all the way to Bluestone Processing is complete.  I have not been able to confirm that the line is operational yet. May be waiting on increased capacity.

Cheers

Permalink Reply by FairMktValue on January 28, 2015 at 12:38am

Some good news from Rex:

"The company and its third party engineers, NSAI, were successful in confirming down-spacing from 750 to 650 foot spaced laterals in the Butler Operated Area. In addition, NSAI has confirmed, based upon the data currently available, the Marcellus and Upper Devonian Burkett are separate reservoirs and can be booked independently within the company's acreage. The production performance history of the Upper Devonian Burkett wells is at a level that allows PUD type-curves to be booked at the same level as the Marcellus shale wells. The company expects to update its Butler Operated Area Marcellus and Ohio Utica Warrior North and South type curves in the coming weeks"

I suspect that the Ferree wells confirmed these estimates. 

Permalink Reply by FairMktValue on January 28, 2015 at 12:39am
Permalink Reply by Philip Thackray on January 28, 2015 at 2:08am

FMV,

That is interesting news.  Thanks!

Rex has been operating the Baillie Trust for some time.  That is the original stacked Upper Devonian/Marcellus pad.  Across several Rex Presentations they have been stating that the Baillie Trust stacked wells have not been communicating.  In the Rex January Presentation on page 18 they state that the Ferree pad, the second stacked UD/Marcellus, has been placed into sales.  The third stacked pad is the Michael just north of the Shipley Pad on 68.

The Stebbins Unit (behind Gumto's green house on Meridian Rd) is a single Upper Devonian well and has had good production.

However, I note that in these leaner times, Rex is going mostly to the Marcellus.  I don't think that Rex considers the UD quite equal to the Marcellus although stating so in their presentations helps the stock value a bit.

I'm curious to see how the XTO Upper Devonian well at Hixon turned out.  Also curious how the XTO Utica on the Patton pad is doing.

It looks like Rex permitted a Rhinestreet at the Michael pad.  I'll check to see if they drilled it.

Regards,

Phil

Permalink Reply by FairMktValue on January 28, 2015 at 4:42am

Phil,

Yes, very interesting but not really a surprise.I believe the O/G companies were fairly certain of at least respectable results in all 4 zones. (Rhinestreet, Burket, Marcellus & Utica)

That is starting to be publicly confirmed. 

Great news for leaseholders. Whether you have 1 or 100+ acres there is a very good chance of being in 4 units before it is all over. May take a while but they are gonna get it all eventually. 

Rex's next quarterly presentation perhaps will add more "color" as they say to the picture.

If Ferree has been put into sales I would think everything from Reno west could be. Kennedy and West anyway.  Unless MarkWest does not have the capacity yet.

It will be interesting to see where Rex concentrates its likely reduced Capital budget.

Cheers

 

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