Rogersville Shale going for $1,000 + Acre

Rogersville (XEC): Management isn’t ready to talk on its emerging Rogersville Shale position, but does hint that it has a sizable position (we think 100K+ acres), is surrounded by big-name neighbors (CHK, EQT, CLR, and COG), and confirms that acreage prices are starting to go for >$1,000/acre (XEC's entry price is well under that). For those new to the Rogersville, it runs through both Kentucky and West Virginia, and recent reports coming out of the basin highlight prolific vertical well results.

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Permalink Reply by Dexter Green on June 10, 2015 at 4:30pm

Oh good, more gas.  That ought to help Appalachian differentials.

Permalink Reply by Paul Butler on June 11, 2015 at 2:56am

It was my understanding that leasing prices in the Rogersville shale had collapsed and that most leasing had stopped.

People on the TOPIX website were saying in April and May that they were being offered $5 to $10 an acre for 5 year leases in Magoffin County.

Who is paying the $1,000/acre. 

I hope its true.

Permalink Reply by Tim on June 11, 2015 at 4:27am

Nope, its not.

Just more hype.

Permalink Reply by Kyle Nuttall on June 12, 2015 at 3:53am

I have clients with acreage over in the Rogersville shale area: Cabell County, WV.  Last I'd heard, Cimarex had pulled out completely.  That was back in January.  Cabot was the only game left, and I haven't been able to get them to do more than say, "yes, we're interested in that area".  No documents, no bonus offers.  If Cimarex is getting back in the game, I'll have some happy clients.

Permalink Reply by roadbuilder on June 15, 2015 at 1:14am

  

   Just seen WSAZ News had a report of a meeting tonight in Huntington about Fracking, Its tonight at 6;30 they said people that lives in the Rogersville shale should be there.      

Permalink Reply by Kyle Nuttall on June 15, 2015 at 5:36am

I won't be able to make it tonight.  I hope other people here will, though.

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