Halcon Resources

Energy Companies | Halcon Resources | Hydraulic Fracturing | Industrialization | Industrywide Issues | Noise | Ohio | Trucking | Trumbull County

Trumbull County Mobile Home Park Doesn’t Like Utica Drilling
April 24, 2013April 24, 2013

The down sides of drilling, if you happen to live close to a drill site, are noise, flood lights for working at night, and truck traffic. Residents of the Westwood Lake Mobile Home Park in Trumbull County, OH can attest to that. The good news is, drilling only lasts a short time—typically a month or less. Still, someone banging on your door at 3 a.m. in the morning is a bit much…

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Energy Companies | Halcon Resources | Mercer County | Pennsylvania | Venango County

Halcon Resources Completes 2 Utica Shale Wells…in PA!
April 18, 2013April 18, 2013

Halcon Resources, a driller headquartered in Houston, TX, is active in half a dozen different shale plays in the U.S., including the Utica Shale. The surprise part is that Halcon is drilling in the Utica in Pennsylvania as well as Ohio. Yes the Utica does underlay a large part of PA as well as eastern OH, but only a handful of Utica wells have been drilled in PA (from all drillers) because the prolific Marcellus Shale layer under PA has commanded the most attention.

Halcon’s CEO Floyd Wilson says the company has two rigs drilling in the Utica now, but it’s still very early days for “one of the most exciting unconventional resources plays in the lower 48.” Two of the eight wells they’ve spud (i.e. drilling) in the Utica are now completed—both of them in PA:

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Energy Companies | Halcon Resources | Mercer County | Pennsylvania | Utica Shale | Venango County

Halcón Resources: Full Speed Ahead in Utica Shale for 2013
March 4, 2013March 4, 2013

Houston-based Halcón Resources Corporation issued their fourth quarter and full year 2012 financials and operational update last week. As MDN has been reporting, Halcón is ramping up in the Utica Shale (see Location of Second Halcon Utica Well in Trumbull County, OH). Their 2012 update further confirms that they are making a big push in the Utica for 2013.

In the extract below discussing Halcón’s Utica plans for 2013, we learn they have 130,000 acres, plan to drill 20-25 new wells and will spend $200 million on their Utica drilling program for the year. Interestingly, both of their completed Utica wells are located in the Pennsylvania Utica—not in Ohio…

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Energy Companies | Halcon Resources | Ohio | Trumbull County | Utica Shale

Location of Second Halcon Utica Well in Trumbull County, OH
January 10, 2013January 10, 2013

Halcon Resources continues their rapid pace of new drilling in Trumbull County, Ohio. MDN recently told you that the very first horizontal Utica Shale well to be drilled in Trumbull is now under way by Halcon in Hartford township (see Trumbull County’s First Utica Shale Well Now in Process).

Looks like Lordstown will be the location for the second Trumbull County well to be drilled by Halcon. Here’s exactly where in Lordstown:

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Energy Companies | Halcon Resources | Ohio | Trumbull County | Utica Shale

Trumbull County’s First Utica Shale Well Now in Process
December 31, 2012December 31, 2012

Although BP is the largest leaseholder for Utica Shale drilling in Trumbull County, OH with 84,000 acres under lease, Halcon Resources, which purchased 15,000 acres of leases from Carrizo Oil & Gas in October (see this MDN story), is the first to put drill bit to earth and is currently drilling the county’s very first horizontal Utica Shale well:

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Energy Companies | Halcon Resources | Industrywide Issues | Mahoning County | Ohio | Seismic Testing | Trumbull County

Halcon Resources to Perform Seismic Testing in Eastern OH
December 3, 2012December 3, 2012

Halcon Resources continues to step up its presence (and telegraph its intentions) with drilling in Trumbull and Mahoning counties, Ohio. The latest indicator that Halcon is serious about eastern OH? The presence of 25 workers seeking permission from landowners to take seismic readings in the area:

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Energy Companies | Halcon Resources | Lease & Royalty Payments | Mahoning County | Ohio | Trumbull County | Utica Shale

Halcon Resources Responds to Lordstown, OH Landowners Group
November 30, 2012November 30, 2012

A few weeks ago MDN told you about a new landowners group in Lordstown, Ohio, formed in response to requests from Halcon Resources who is asking landowners in the area to sign modifications to existing 20-50 year-old leases on their property to allow for Utica Shale drilling (see this MDN story). At the time the new Lordstown Regional Landowners Group represented 5,000 of the 31,000 acres in Trumbull and Mahoning counties (Ohio) Halcon had recently purchased the rights to.

Apparently the movement has picked up steam and Halcon issued a press statement yesterday saying they want to cooperate with landowners to make them money on royalties, but stopped short of saying they would renegotiate leases, which is the aim of the landowners group.

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Energy Companies | Halcon Resources | Mercer County | Ohio | Pennsylvania | Trumbull County | Utica Shale

Halcon Drills First Utica Well in Trumbull County, OH
November 12, 2012November 12, 2012

One month ago Halcon Resources purchased Carrizo Oil & Gas’ northern Utica Shale acreage (15,000 acres) for $43 million (see this MDN story). Halcon is not letting any grass grow under their feet. They are already working on their first Utica Shale well—preparing the site—in Trumbull County, OH. When completed, it will be the first active Utica Shale well in the county:

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Energy Companies | Halcon Resources | Ohio | Trumbull County

Landowner Group Forms in Trumbull County to Field Halcon Offers
November 12, 2012November 12, 2012

Very important for landowners in and around Trumbull County, Ohio: Halcon Resources, which took possession of some 31,000 acres of 20-50 year old gas drilling leases in northeastern Ohio, is approaching landowners about amending their leases to allow drilling in the Utica Shale. It’s a good opportunity for landowners to make money from drilling, but also a good opportunity to negotiate new protections.

A new landowner group has just formed in Lordstown, OH to help landowners navigate the offers being made by Halcon:

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Carrizo Oil & Gas | Crawford County | Energy Companies | Halcon Resources | Mercer County | Ohio | Pennsylvania | Statewide OH | Trumbull County

Mystery Buyer of Carrizo’s Northern Utica Acreage Revealed
October 16, 2012October 17, 2012

Yesterday MDN reported that Carrizo Oil & Gas had sold off it’s interest in lease acreage in Ohio’s northern Utica Shale region for $43 million (see this MDN story). Carrizo did not identify the buyer, but the enterprising Youngstown Business Journal did.

Here’s who it is:

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Energy Companies | Halcon Resources | Lease & Royalty Payments | Mercer County | Pennsylvania

Halcon Says No Drilling for Half of Mercer County Landowners
September 20, 2012September 20, 2012

About the half the landowners in Mercer County, Pennsylvania who signed leases with Halcon Resources (via CX Energy) to allow shale gas drilling on their property found out Monday night that Halcon is not exercising their lease options. The other half found out Halcon will go forward with drilling on their property.

What happened?

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Energy Companies | Halcon Resources | Lease & Royalty Payments | Mahoning County | NCL Appalachian Partners | Ohio | Trumbull County

Halcon Resources Pays $194M for Old Leases in Trumbull County, OH
August 3, 2012August 3, 2012

Bombshell: Halcon Resources Corp. is paying NCL Appalachian Partners $194 million (over $6,000 per acre) to take over land leases for drilling on 31,000 acres mostly in Trumbull County, OH (and about 3,000 acres in Mahoning County, OH). This is not money going to landowners but to the leaseholder, NCL. And it’s for old leases dating back to the 1960s.

By comparison, mass transfer of lease deals done by Chesapeake and others have been in the $1,000-$2,000 per acre range. But there is a difference: the lower-priced deals include a one or two percent royalty on anything produced going to the original leaseholder. Again, this is not landowner royalties, but leaseholder. It’s hard to follow the bouncing ball on this story.

The leases purchased by Halcon are not without potential problems (for Halcon) and opportunities (for landowners):

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Energy Companies | Halcon Resources | Lease & Royalty Payments | Ohio | Trumbull County

Trumbull County, OH Landowners Receive Lease Checks
May 17, 2012May 17, 2012

Landowners in Trumbull County, Ohio—some 50 to 60 families—are now collectively $7 million richer since receiving their lease signing bonus checks. Including Richard and Ida Faber, who received a check yesterday for $701,580—almost $3,000 per acre.

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