| | | Updating local Marcellus & Utica Super Giant Field news.
H&G Energy (privately held local E&P) drilled two wells nearby, last summer. Both were completed as commercial producers. One 4 1/2 miles east, in the Marcellus. The other, 5 miles west in the Utica AWA the Marcellus.
Utica zone of 2nd well was a Wild Cat because the nearest producing Utica well was about 30 mi. away. Completion in the Utica established a major extension in proven and probably reserves for the Utica field. In fact, a few weeks after that, the Utica was declared 2nd Super Giant Field, in the Appalachian Basin, by the U.S. Geological Survey. The Marcellus being the 1st a few yrs earlier. This basin is now recognized as one of the largest in the world. Ideally located to serve the many highly populated areas in the eastern 1/2 of the lower 48 and export to overseas customers, over the long term, as well.
Most recent annual mineral property auction (county just south of us) showed H&G Energy as high bidder on several mineral interests in the Little Cove area of Troy Dist. Those parcels are adjacent to small parcels Antero leased from me, in May 2015 for a 400 to 600 acre horizonal Marcellus lease block. Add that to AR news, a few days ago, of plans to sell a large number of their leases and other assets for 750 million $$ and...
IMHO, likely their large Little Cove horizontal lease block was already been sold to H&G. Don't know whether H&G also bot the similar size AR Horn Creek lease block in which I'm also a mineral owner. What's even more interesting is both leases expire in early May of next year. So, it's either Drill Baby Drill or they hit the road empty handed.
With nice NG sector rally now underway? Odds are increasing for Drill Baby Drill...))
What retirement? This is too much fun.
Iso |
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