Hopefully there are oilmen among you that can address this issue.
Slide 14: Aside from the approximate 80,000 net acres in both the Marcellus and Utica (with nearly half overlapping) we also own 304,920 net acres in the Devonian Shale located in the states of West Virginia, Kentucky, Virginia, and Tennessee. Management is very quiet about this acreage, which I assume was purchased via acquisition as an adjunct to what was their real interest.
a. Does it have any promise?
b. Is it for sale as part of the attempt to sell unwanted property?
c. Is it held from lease expiration by existing production?
I hope there is someone among you that can accurately shed some light on this subject.
A. Yes dry gas wells, not huge but decent wells, lower cost to drill and complete. I think we see more action at higher gas prices.
B. Not sure it depends on what they think the potential for other production formations are.
C. Looking at the Ohio DNR well finder, they have a good number of wells producing in this area so I would say a good deal of it is held by production.