Chesapeake question

Does Chesapeake have any wells in TIoga Co? I can't find any evidence of any (but maybe I'm not looking in the right places?) I've been looking at the leases they've signed recently, and they seem pretty random. Either they have a lot of property previously leased, or they are just collecting the leases with the intent of swapping with East. Does anyone know if Chesapeake intends to become a presence in Tioga Co?

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Replies to This Discussion

Permalink Reply by Lynn Wigglesworth on March 7, 2011 at 1:39am

Last summer Chesapeak was offering $3000/20% in Delmar Township; they went through with a few leases, but withdrew the rest and seem not interested in this area any more. A 25% royalty is nice!

 

As far as I know, East isn't doing any seismic testing here; they are just slapping in wells. ROW for gas lines (except the lines directly off the well) are a separate contract. The way East does wells, there is only one pad in a 600+ acre unit, so  there's minimal disturbance of property.

Permalink Reply by Ann Ticopa on March 19, 2011 at 2:07pm
Just ran across a Tioga County Chesapeake Declaration in Landex - March 16, #201103007, Liberty.  What's interesting about it is the list of companies involved.  Apparently Chesapeake is willing to do deals to form a unit.  (Iirc, Statoil does own a piece of Chesapeake but I'm now aware that Chief and Anadarko do.)
Permalink Reply by Brian V. on March 22, 2011 at 9:10am
That is a weird looking unit. And only 388 acres. I suspect they will expand the unit eventually and that they have formed it this way because this is really a test well for the most part for them because this is the first well in Tioga. Either way they really went out of their way to cut people out of that unit. Most units they have in Bradford county are close to perfect rectagles and are 600 acres and up.
Permalink Reply by Ann Ticopa on March 22, 2011 at 11:03am

Since you have looked at some declarations, do you have a guesstimate of (1) the number of part/whole parcels in the average unit and/or (2) assuming no one has a Pugh, the number of additional acres tied up (hbp) by the average unit?   

Permalink Reply by Brian V. on March 22, 2011 at 2:54pm
Ann, each unit is different. Part/whole parcels and additional acreage would all depend on the location of the well pad itself and how big or small the parcels are in a given area... This shale is everywhere as apposed to isolated pockets so ultimately these companies want to develop every square inch. All I know is I wouldn't want to be cut out if I owned 40 acres or less because it's very unlikely to never be developed.
Permalink Reply by Ann Ticopa on March 22, 2011 at 4:58pm

Understood that it will be different in areas of differing population density. Yes, the shale is everywhere.  But there are some spots that are better than others.  In some places there are faults that would make it difficult to follow the seam. 

 

It will be interesting to see what happens about two years form now ... when East has run through the low-bonus leases. 

Permalink Reply by William Ladd on March 24, 2011 at 5:21am

I deleted my reply of march 5 because of a computer glitch. Sorry

 

Bill L.

aka Bummy

Permalink Reply by Patrick VanO on March 25, 2011 at 7:14am
My understanding is that Chesapeake conveyed most of its interest in Tioga Leases to East Resources (now a subsidiary of Shell, of course), at least as far as leases taken before 2010.  That is the situation with my property in Tioga, which was originally leased to CHK.

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