Eclipse to buy Pa. Utica shale assets

Eclipse to buy Pa. Utica shale assets

Wednesday, December 20, 2017 by Sara Welch

Eclipse Resources Corporation and its subsidiary Eclipse Resources PA will buy oil and gas leases, wells and other related interests in Tioga and Potter counties in central Pennsylvania for $93.7 million from Travis Peak Resources, LLC, according to Farm and Dairy.

The deal spans approximately 44,500 net acres, including 22 industry Utica Shale wells. The company says their preliminary analysis indicates the gas inlace exceeds southeast Ohio’s Utica Shale Dry Gas “Core” area.

Eclipse plans to add approximately 87 net drilling locations while increasing the company’s Utica dry gas acreage by approximately 85 percent.

Learn more: Farm and Dairy > Eclipse Resources to buy Pa. Utica shale leases, wells

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Shale FAQ

What are mineral rights?

Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.

Will I get free natural gas if I allow fracking on my property?

Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.

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