Replies to This Discussion

Permalink Reply by Finnbear on May 17, 2012 at 2:42pm

A crappy picture of the frac job in progress at the Richman well

Permalink Reply by mbc on May 16, 2012 at 6:58am

Mole, that's interesting.   I was trying to tell a friend about one of the contributors on this site and I couldn't come up with the right word.

I told my friend that I pictured someone shuffling around stacks of books and documents.  You know, the sweater, the ever present pipe - the all knowing professor like look about them who doles out little bits of knowledge.  And then, with a bit a smug smile, sprinkles in a little conflicting information.  

Good Professor Mole can be riled at times, particularly over so-called bonus payouts. 

Permalink Reply by dan gladyszewski on May 16, 2012 at 10:50am

I smoke cigars and only wear sweatshirts, so that counts me out.

Permalink Reply by 0i7okn54zwbdo on May 17, 2012 at 3:22am

I too smoke cigars, but the sweatshirt isn't generally a part of my wardrobe.

Permalink Reply by 0i7okn54zwbdo on May 18, 2012 at 7:41am

Black Gold Junkie, they frack bad wells all the time.  Drilling is as much an art as it is a science.  Sometimes bad initial data leads to a reluctant frack job and a good well.  Sometimes great initial data leads to a $10,000,000 right off.  The western end of the oil window is all about permeability and there are some spots that look amazing.  The results of the Harstine core should have landowners dancing the Tarantella.  Those in Knox and Licking counties should expect great lease bonuses and a good royalty based on that data point alone.  Hell, CHK spent hundreds of millions before they had any real data to back up their bravado. 

Permalink Reply by 1w1vl8clda7t4 on May 18, 2012 at 11:05am

In reference to your above post...if oil was gushing out during the flow back operations @ the Eichelberger well...I would have to think that the Insitu fractures are big enough and the microdarcy pores were big enough to allow for oil drainage in order to sit on top of the well casing prior to the frac job, and once they punctured thru the casing oil came down thru the holes into the casing. So, if that was the case...there should not be any problems with permeability issues at the Eichelberger well site...in my opinion.

And yes they do frac bad wells from time to time...but Devon has around a 98% success rate...its not like drilling a vertical well for $500,000, that's not a huge loss, but missing a $7-10 million dollar job...that is another story...heads are going to roll.

Permalink Reply by 0i7okn54zwbdo on May 18, 2012 at 2:48pm

Devon reported perm at ~30 microdarcy.  That's 5X better than the Bakken.  And Devon thinks that well costs in the oil window will be between 4 and 5 million, so their money will go further here than Chesapeake's will in say Carroll county.  I agree with you, perm at Eichleberger should be outstanding, based on what we're hearing.

Permalink Reply by 1w1vl8clda7t4 on May 19, 2012 at 2:10am

This is in reference to your last post...Devon is a smart, conservative, knowledgeable, company who bought out the pioneer of horizontal drilling & hydrofracking, George Mitchell, who I might add doesn't receive enough credit for what he has done for the oil & gas industry. My point is this...when this same company during an analysis conference call says ..."we believe the Eichelbergerger well is in the peak of the oil play window," I have the tendency to to give alot of warrant to a statement like that, especially, if for no other reason, to whom the statement was being broadcasted to...Wall street analyst. Corporations have the tendency to disseminate truthful statements to the institutional players who own their stock...like I said earlier, I'll continue to believe what is said to the the players that can make or break a company by merely pushing a button on a computer screen.

Permalink Reply by MARK NEEL on May 19, 2012 at 10:06am

Devon Energy in Licking And Knox County has recorded the sale of 33.3% of all their leases to TipTop Energy Production LLC of Houston TX.  Is this the same for Ashland County?  Is this possibly the US name of the China partner or is Devon selling out and leaving town?

Permalink Reply by 1w1vl8clda7t4 on May 19, 2012 at 10:23am

If I'm reading this correctly Tip Top is assigning leases to Devon...not the other way around.

here is the link

http://www.recorder.co.knox.oh.us/external/LandRecords/protected/Sr...

Permalink Reply by MARK NEEL on May 19, 2012 at 10:36am

Go to www.Lcounty.com and search Tip Top. Devon assigned 33.3%.

Permalink Reply by 1w1vl8clda7t4 on May 19, 2012 at 10:49am

The grantee is Devon...which means they received the leases and tiptoe is a 33% working interest owner. They have to cover 33% of the production cost.

Sinopec is Devon's JV from China.

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