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Wednesday, February 23, 2011

Penn Virginia Corp. Reveals Drilling Plans In Potter & Tioga Counties

Penn Virginia Corporation Announces Record Proved Reserves and Provides Operational Update

RADNOR, Pa.--(BUSINESS WIRE)-- Penn Virginia Corporation (NYSE: PVA) today announced record levels of proved oil and gas reserves and pro forma production and provided an update of its oil and gas operations, including full-year and fourth quarter 2010 results. More...

From the release---
Marcellus Shale – Our first horizontal Marcellus Shale well (Risser #A-1H) has been drilled and the second is being drilled from the same pad in Potter County, Pennsylvania. Once the second well is drilled, we plan to complete both wells and expect to place them on line by mid-year 2011. We expect to drill up to 14 (13.0 net) horizontal wells in 2011 in Potter and Tioga Counties, Pennsylvania. We currently have over 56,000 net acres in the Marcellus Shale, primarily in Potter and Tioga Counties, where we have in excess of 35,000 net acres and estimate we have over 200 gross drilling locations.

11 comments :

Anonymous said...

whoo hooo are they bragging?

Anonymous said...

Notice the word "horizontal".

If you haven't signed whether it be money or moral reasons, you may be out of luck if your neighbor has.

Anonymous said...

8:46 you sound like you really know the industry... How much experience do you have with drilling horizontal wells? Probably as much as everyone else who posts on here...

There are laws against that and that is why there are lease lines and all info has to be sent to the state for review before and then after the well is drilled.... but all you guys already knew that with all your experience drilling!

Anonymous said...

What good will it be if my water is tainted and I sue them?

Anonymous said...

People like myself (and other OGM land man) are picking up and going elsewhere. Drilling west of Tioga County is pretty tough at the moment. Not just because of the available water issue, but because natural gas prices suck. I've been in North Central Penna' since last summer, but I'm heading to other lands to do other work.

My message to the lovely people of North Central Pennsylvania: Don't get screwed. The people who pay my salary have no problem screwing the local folk. Don't EVER forget that. We are not here because our employers think you are nice people. We're here to get the trillions of cubic feet of natural gas under your property. I'd like to say we're hear to make things swell, but we're not. We're here to make money.

Anonymous said...

...and you can make money too by investing in some of these companies. Range Resources +$3.59 yesterday, Anadarko +$1.82 yesterday. Exxon (which bought some Marcellus companies) +$1.63 yesterday. All the while the stock market fell. They're here to stay so make the best of it.

Anonymous said...

Yahoo big deal what about the H2s on the risser well they are keeping from the public. Why are they keeping this a secret?

Anonymous said...

Rumor has it that one of the Riser wells is producing HS2 gas at leathal levels can you confirm this Mr Jones.

Anonymous said...

Mybe they will buy me out so i can move out and poeple can cry their water s--k- .

Anonymous said...

8:54 It may be sour gas.
They are drilling and fracturing near areas that contain sulfides. It wouldn't be that big of a surprise if the rumors are true.

Link to map:

http://data.fractracker.org/cbi/link/TJPilZqGVFLfYBGyYZo

H2S is toxic at not very high levels.
I would become concerned if you
smell a rotten egg odor.

Anonymous said...

rotten egg odor has been with water wells for years! we just have better tec. to detect it ! knowbody new what it was before .