Stedman Energy, Inc. reports drilling started in Venango Twp.,Erie County, Pennsylvania

Since the drop in prices activity has been curtailed in most areas.....I posted this in the Erie County, Pa.

site but thought I would also post it here because all activity of new drilling could be of general interest.

Our group owns a 270 acre site just four miles from this new drilling and although we were not expecting to see new drilling until prices were increased beyond their current level we are following this activity closely.  Since Marcellus is not generally known to be in this area we speculate that this conventional well is looking for shallow oil or Upper Devonian (Rhinestreet).  If anyone has information that could be of interest we would appreciate a response.  We are landowners that do not have any experience in the gas and oil business but believe long-term that Upper Devonion (Rhinestreet) and Utica along with shallow oil possibilities could be in the future for this area.

We have a gas distribution line ownd by National Fuel, both a low pressure line and a high pressure line and the property is leased by an affiliate of EmKey Energy, LLc. (Nucomer Energy,LLc) a major midstream company who we feel would most likely Joint Venture drilling with an operator.  This recent activity is encouraging.

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Permalink Reply by george m vietze on September 2, 2015 at 11:48am

Specifics of Stedman Energy, Inc. well:

049-25432  Api number

oil well permit 2015-08-05

Site name:  R Meabon 12

location:  take Rt 8 to R89 turn left - about mile on right

latiture DD    42.029620

longiturde DD   79- 81378

Latitude dms   42deg l" 46.6284

Permalink Reply by Paul Butler on September 2, 2015 at 1:32pm

Is this Oprah's boyfriend's Oil Company?

Permalink Reply by Zoner on September 3, 2015 at 3:02am

Here is the well permit. All the info your looking for should be in there.

Attachments:
Permalink Reply by george m vietze on September 3, 2015 at 3:32am

Thank you Zoner, the permit had specific info on exact location etc., also confirmed its an oil well.

We belive it is a "test" well to determine whether it make sense to drill more productive horizontel wells in the future when prices make more sense.  The Upper Devonian is a lot more sandy and pearmable requires less or maybe no fracking, a lot less expensive than deeper drilling for the Utica which is a lot tighter which as technology improves could be prolific at a latter time.

Thanks for your reply.

Permalink Reply by george m vietze on September 3, 2015 at 12:49pm

I went to the well site and the drilling rig has left.  One neighbor said they were there for about two weeks and left.  I spoke with Stedman Energy and told them that we would welcome them to work with our lessor and joint venture an oil well.    They know the principal in our lease and would make contact.  I don't know what they discovered but since we are only three miles away their actions will speak for themselves.  Since activity is slow it is less expensive

to drill now and you do not have to sell until prices rise.  

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