by Staff Writers
Bowling Green KY (SPX) Jan 08, 2013
Today, Encore Energy provided the following report for recent lease activity, available properties for lease and services available to mineral owners and operators in the Utica Shale of Eastern Ohio.
Serving as an advisor and representative to producers and mineral lease owners for their acreage in the Utica Shale, Encore has recently closed on the sale of acreage tracts located in the oil / wet gas window across three townships of Eastern Morgan and Northern Washington Counties including a 1,300-acre tract just a couple of miles from Anadarko's producing lease in Noble County. The majority of this acreage is HBP (held by production).
Encore is currently presenting multiple "add-on" tracts of acreage in Noble and Guernsey counties to a number of active operators in this area where there exist an explosion of activity and reports of phenomenal success from a combination of crude oil, condensate, natural gas liquids and dry gas production.
"We are currently representing nearly a dozen properties located across a half dozen townships in Guernsey and Noble counties alone," said Joe Turner, Encore's Executive Vice President of Operations.
As an experienced horizontal well operator, Encore's team has the proven track record and industry relationships necessary to provide a "win win" result for Utica operators and mineral owners alike. Encore works directly with operators to develop select tracts for future horizontal operations that fulfill the company's exploration and production objectives while providing the very best price and terms to the mineral owner.
Encore guides mineral owners through the process of contract development, title review, curative and closing of their property. Encore also represents the mineral owner's interest as it relates to future operations conducted on their property. Encore is only paid fees when a property closes.
The ultimate goal is to protect the mineral owner and facilitate the needs of the production company. Encore also works exclusively with certain operators to locate and secure strategic acreage. Nearly 100 prominent US operators have access to Encore's Utica Shale "lease information" database located at www.encore-energy.com.
Encore has access to nearly 250,000 acres across 13 counties of the Utica play including a featured property of 10,000 +/- contiguous HBP acres for lease, or JV development, in Washington, Athens and Meigs Counties located off-set to "Utica vertical well pilot program(s)" that report increasing oil shows from a fracture treatment and TOC (total organic content) estimates of 2%.
"For the long-term, Encore is working with certain industry investors to develop future drilling operations of its own in the Utica Shale," said Steve Stengell, Encore's President and CEO.
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