Big drill working now on Renick pad, Butler,PA.

FYI, Rex is drilling on the Renick pad in Center twp. Butler, Pa and plans to Fracture around March 2015.

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Permalink Reply by Jon on February 21, 2015 at 2:34pm

I heard that they're buying rows for the well in cherry twp, but they don't seem to mention that.

Permalink Reply by LewPa on February 21, 2015 at 3:10pm

Jon,

If your talking about  pipeline rows, that would be Markwest buying them, Markwest ownes all of Rex's pipelines in Butler Co. LewPa

Permalink Reply by Jon on February 22, 2015 at 1:16am

ok. So there isn't much of a correlation there.

Permalink Reply by Robert Allingham on March 25, 2015 at 6:34am

Went past Renick site today and there is a large "swimming pool" set up. This must be a fresh water pool . Also there is a lot of equipment across the street from Renick pad where they are clearing a big area and changing the lay of the land. Could this be a place for making an open pit for frack water? Anyone else know or have an opinion on this? Also the Fleeger site has signs up and an access road in place. FYI. Does anyone know what the giant blue holding tanks are used for? condensates?

Permalink Reply by Geo5 on April 1, 2015 at 5:17am

I was looking at the Agreements that Rex recorded yesterday at the butler county recorder of deeds website, which gave AL MARCELLUS HOLDINGS LLC, their 35% stake in the wells.  It looks to me that Rex will have 4 units from the Renick Pad, one well per unit.  Also, it looks like Rex will HBP 4,334 acres from just one well pad (Renick), with each unit averaging just shy of 1100 acres. This looks to be a great deal for Rex's stockholders, but not such a great deal for the landowners. 

  Robert Allingham, It looks to me that your land will be in the Renick SE unit, unless Rex changes something before they declare the Unit.

Permalink Reply by FairMktValue on April 1, 2015 at 8:33am

http://seekingalpha.com/pr/12982476-rex-energy-announces-joint-vent...

Rex Energy Announces Joint Venture 

Here is a little more detail on that Geo

Cheers

Permalink Reply by FairMktValue on April 1, 2015 at 8:36am

Ya might have to sign in, but its free and they don't spam the heck out of you unless you ask for it.

Permalink Reply by Robert Allingham on April 1, 2015 at 9:07am

Thanks a bundle Geo5. Appreciate the update-very thoughtful of you.

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