Rex and Their Shell Holdings in W.PA

Well , its been over a year since the big buy and not much action. My neighbor's lease expired in Sept. and no renewal..... This is 3 miles from the Patterson Pad where they keep drilling. My and many,many other leaseholds come due in the next 11-18 months. Are we wasting time holding out hope?

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Permalink Reply by Jon on November 17, 2015 at 4:08pm

Their last presentation didn't mention much outside of west sunbury. Maybe they're waiting for the landowners group leases to expire or maybe someone else will come in and lease. Who knows.

Permalink Reply by Trapper on November 17, 2015 at 4:19pm
We sit on stacked plays with multiple pipelines crisscrossing our area yet nothing happens. Nothing even appears to begin happening. Shell keeps trucking along on the cracker site. Thought for sure this would impact us in a positive way. Nothing yet......UUUGH!
Permalink Reply by Jon on November 17, 2015 at 4:42pm

Yeah, seriously

Permalink Reply by Geo5 on November 18, 2015 at 2:57am

Trapper, on the conference call before last, and i am going to paraphrase, "shell screwed up the wells on the patterson site, we believe we can do better, we will drill one well to see the results we get".  My guess is that when they get that well online, if it looks good, then they will try to find a partner to develop that area, but thats IMHO.

Jon, two presentations ago, Rex added more area to there HBO/HBP plans for 2016/2017, they added most of there land in Washington Twp. to their planes. Im guessing somewhere in 2016, Rex will come out and put a stake on my land, and say they have begun operations, before my lease expires.

Permalink Reply by Jon on November 18, 2015 at 4:33am
I'm in cherry twp right on the edge of their drilling picture. They renewed a couple of near by leases months ago, but haven't done anything since.
Permalink Reply by Jim Litwinowicz on November 18, 2015 at 4:35am

Is Washington Twp where the Mayberry wells are located? Or is that Scott?  Have they ever been placed online? If so where does the pipeline run?

Interesting that Rex feels they can do a better job than Shell.  It seems that the smaller, more nimble companies always get better results.  Chevron has drilled a few in W Pa and doesn't seem happy with the results.

What is bad is that these majors drill a couple of weak sisters and people think the results show the area as poor. Maybe Rex's new well on the Patterson pad will demonstrate that the area has solid promise. Would love to see them drill another on the Mayberry site to see what it will produce when drilled by someone that knows what they are doing.

Hopefully, Shell will make the cracker official very soon and that will either allow banks to finance more drilling by Rex or make it easier for Rex to get JV partners in the area.

Permalink Reply by Geo5 on November 18, 2015 at 5:58am

Sorry Jim, that is Washington twp. butler county that they included in the updated HBO/HBP plans.

Permalink Reply by Daryl Brown on November 18, 2015 at 11:41am

Where exactly are you?  Are you at liberty to say?  County and Township please?

Permalink Reply by Trapper on November 18, 2015 at 1:15pm
New Beaver Borough
Lawrence County PA
Permalink Reply by Geo5 on November 18, 2015 at 6:00am

Matt, from my understanding, the JV partner is only for 16 wells in the Moraine east area, Four wells each for the Fleeger, Fleeger 2, Gray and Renick pads.  Rex was very smart about how they did that IMO.  They don't seam to be giving away the bank when it comes to new J/V's.

Permalink Reply by Jon on November 18, 2015 at 10:43am
A while ago I heard that someone was getting rows for the Puryear well. They don't seem to say anything about that coming online.
Permalink Reply by cheliped on November 18, 2015 at 11:23am

Whatever happened to the Drake well in Worth township that was drilled by Shell?

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