EQT is going after the Utica/Point Pleasant in Greene County, PA. That’s right across the border from our very own Marshall County, Wetzel County, and Monongalia County. The wells aren’t close to the border, but considering that Antero is also going after Utica/Point Pleasant in Tyler County, it seems likely that the rest of that area should be interesting to producers for the Utica.
I’ve been telling my clients all along that the Marcellus and the Utica shales were not the only formations to be concerned with. This article explains that Stone Energy, Gastar, and Fossil Creek are working on Utica and Point Pleasant wells in Marshall County.
In addition, I’ve negotiated leases with Consol/CNX for the Burkett formation in Barbour County, WV.
Antero Resources has permitted a unit called the Pursley that is going after the Point Pleasant formation in Tyler County.
I’ve heard rumors that Antero is going after both the Marcellus and the Utica in Ritchie County, WV. Per acre offers in Ritchie are starting at $2,500, and moving upwards rapidly if you hesitate to sign. That tells me that Antero sees Ritchie County property as a multiple play prospect.
When you negotiate your lease, remember that nobody was talking about the Point Pleasant or the Burkett very long ago. We don’t know which formations might be interesting in a few years. Plan for the future as best you can.
Another large pipeline is proposed that would pass through Marshall County, WV. Here’s a link to an article about it.