Ok Artex does not share anoffice they are on top the hill now by Antero. They currently own six Point Pleasant wells, they got the Wells after they did a JV with Anadarko I am willing to bet they do not agree that this is their core Acerage. They own 200k plus acres west of this. Stay tuned this is not the last from them. They are waving the flag to the east as they start slamming the west?
Oml. Ok. Artex Enlink Antero and PDC are all right there on SR 821 or Old Cambridge Rd all within a half mile of each other. Geesh
I hope they start slamming the west like RSP Permian 😉
Michael well aware that they are too different plays.
They did a JV with Anadarko in 2010. Once Anadarko found out they made terrible wells they exited the basin. Anadarko drilled 7 wells, Artex currently owns 6 of them and NGO 1 of them (all west of this acerage). You may not call it a joint venture, but Anadarko and Artex did. The six wells to the West are straight up own now by "Artex Energy Group."
We all know they have not permitted or drilled alone west of the acreage, rumor is they shot a 3D last year west of I-77. I am not saying they are currently slamming west, but yet simply saying that for "Future Plans."
James knows they are different formations as well. He was winking because of the family ties between the two companies. Just being optimistic on the Oil Window, hoping they get it going for Ohio.
I agree MM. I'm just speculating and obviously not a geologist but this may be a situation where Anadarkos geologist saw something on the top of the PP they liked. Looks like Artex is saying they whiffed and the pay zone was in the lowest part of the PP. Again this all is above my pay grade but isn't that exactly what this young man presented just a few months ago. Remember those wells were drilled 6 years ago and much has been learned.
I don't think Devon did seismic before drilling in Morgan Twsp either. Then a couple years after Artex came in and did 3D over the entire township and drilled two Rose Run wells within yards of the Devon horizontals. Do you all think Devon missed the pay zone too?
Well I can't say but it certainly looks like Artex was looking to see if they did. I forgot about the Knox 3D shoot. Must have cost a fortune to shoot the whole township and then drill a couple mediocre RR gas wells.😉