Comment

Comment by GEOMAN on March 13, 2013 at 7:48am

Calla,

I have not heard of any pressure data published from Devon, but based on my experience this area is not going to be overpressured but more than likely have a normal pressure gradient (0.43 psi) to possibly slightly below.  At these depths, the pressures would be around1500 psi @ a depth of 3500 ft which is the average depth of the Point Pleasant.  While true a normally pressured reservoir is not necessarily a bad thing it is not the overpressured shale the we are seeing in the Belmont, Guernsey, Noble areas (0.6 psi gradient).  I strongly believe that in time the industry will be able to produce the Ashland area economically, but at current prices and current technology we are not quite there.

Comment by Calla Sommer on March 13, 2013 at 7:38am

Good question JODI! I wonder if the Eichelbergers got paid for the 6 months of hydrocarbon hauling from the well site? Maybe they did and is why they separated their mineral estate from their surface estate.

Comment by JODI on March 13, 2013 at 5:48am

Just Curious. Where did they take the Hydrocarbons from the Eichelberger Well?

Comment by Marcus Grayson on March 12, 2013 at 11:58pm

To Joe's point DVN got good results from Guernsey, which is not at all surprising.  Don't forget that their in price in several counties was very low, compared to the hot spots.

Comment by Marcus Grayson on March 12, 2013 at 11:56pm

Glad to hear you can get out, Carl.

Comment by Joe Corrado on March 12, 2013 at 9:43pm

Calla,

I'd suggest you order a little book called "Naturally Fractured Reservoir Characterization." It might help you understand your comment of "I wonder what Gulfports production numbers would be in Belmont County if they chose to follow Devon's illogicall drilling program?" It'll cost you $90 since you're not a SPE member. If you're polite maybe I'll let you use my account...ha!

I'd venture to say as Gulfport moves off of their current position they're going to see heterogeneity in their production numbers due to the variability of fracture networks in that particular area, as I'd venture to say that's why they're currently getting big production numbers with an over pressurized reservoir in spots.

They did their homework and are being compensated nicely but the reality is that, as an exaggeration, most companies rely on 80% of their production to come from only 20% of their wells. So you can see an E&P's thinking from a field development standpoint and the variability of production across that field. IMO, this seems applicable to DVN's current situation, whereas, they felt they couldn't get their target production from their target wells and punched out...

What makes sense to me might not make sense to you or another professional, landowner, etc. Everyone has their opinion and it's just that, an opinion. Some opinions are based in science, others on emotion, heresy, etc., but the fact remains no one truly knows except DVN and Sinopec, and sometimes even they're not guaranteed to know...

Comment by Carl Finley on March 12, 2013 at 9:37pm

Devon spent north of 13,000,000 on the eichelberger well I'm sure they knew they had a pressure problem. Marcus there is a statement in our lease that states as long as they make delay rentals the lease carries over for the original term. Just met with my lawyer today I'm good my lease is all screwed up and is in no way enforceable. But my neighbors aren't so lucky.

Comment by Calla Sommer on March 12, 2013 at 6:31pm

JODI, Is it growing season in Ohio already...why would there be so many Texas license plates at the recorders office?

Comment by Calla Sommer on March 12, 2013 at 6:29pm

I guess Devon doesn't have this company or one similar on their Rolodex, or I guess in todays technical world...speed dial.

http://www.horizontalwelltesting.com/index.php

Comment by JODI on March 12, 2013 at 6:24pm

A little bird told me that the Ohio License Plate is a minority at an aforementioned county recorders office or two or three.

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