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MarkWest Energy Partners, L.P. Message Board

  • arbtrdr arbtrdr Dec 20, 2013 9:54 AM Flag

    MHR - goood and the bad

    Appears they are showing some good wells and lots of liquids but Hunter Triad Pipeline is having issues handling those liquids for some reason. Seems everything MHR has an issue of some sort delaying production volumes. The following from press release of 12/20. Note especially the last sentence regarding HTriad.

    "The Company has now drilled and completed three 100% (approximately) owned wells located on the Ormet Pad in Monroe County, Ohio. The Ormet 1-9H Well tested at 2,676 Mcf/d and 216 Bbl/d of condensate, the Ormet 2-9H Well tested at 5,117 Mcf/d and 816 Bbl/d of condensate and the Ormet 3-9H Well tested at 3,876 Mcf/d and 756 Bbl/d of condensate. Eureka Hunter is continuing to install gathering system pipelines to these wells which are approximately 80% complete. Additionally, sufficient surface liquids handling equipment has been ordered and is scheduled to be installed by mid-March.

    On the Collins Pad located in Tyler County, West Virginia, the Company has drilled four 100% owned wells. The Collins 1118H Well has tested at 10,000 Mcf/d and 472 Bbl/d of condensate and the Collins 1119H Well has tested at 9,850 Mcf/d and 470 Bbl/d of condensate. The Company is in the process of moving this test equipment to the remaining two wells already drilled and completed, the Collins 1116H and 1117H, and will begin the testing of these wells sometime early next week. Due to the high liquids content of this region at both our Collins and Spencer Pads, operational upgrades are being made to the Eureka Hunter gathering system in order to appropriately handle all new liquids production."

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    • The upgrades likely include pig launchers for one. I would expect in hilly cntry. the line are fill wth liquids. You know, one outfit many foreget is GST. I did not but either the common @ .74 nor the perferred A @ 14. Dumb move on my part. Anyway, they do have two monthly perferreds now.

    • I have to smile about the continued problems at Magnum Hunter,Eureka Hunter, and all the little hunters...recall that MHR has had some sharp comments about MWE,too. I think it telling that 1. MWE does not include MHR on its' customer logo chart (see Wells Fargo presentation,chart 8) and 2. Range and Antero just keep growing rapidly leaving the G&P action to MWE. One would think that MHR would quit screwing around and just sign the contract with MarkWest....

      • 1 Reply to ake05bono
      • Gee whiz - does that mean that Gary will not be invited to the MWE Christmas party. With MHR it is always something and that something is not their fault. MHR marketed their Htraid system earlier this year. The problem in selling is they got almost no interest. I know the volumes are still ramping up and MHR wanted some committments on hooking up its wells as soon as they were producing (can't even do that and they own the gathering system!) but maybe the comment about "sufficient liquids handling equipment" being installed is the bigger reason.

        All that said - when their accounting fell apart I bought a bunch of both the common and preferred. Gary is a great oil guy. Should have kept to exploring and drilling.