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"The Landmen are Winning in the Utica"
3 Replies

My God, I was gone for a few months from GMS and when I return, I can't believe how the propaganda is winning!  As can be seen by my past post, I never really have been critical of Landmen.  I always…Continue

Started this discussion. Last reply by Ron Eiselstein 7 hours ago.

"Two New Global Energy Companies wish to infuse Utica Landowners Cash"
19 Replies

What have I been doing during my self-imposed exile from my beloved GMS?  Aside from driving all over the Utica like a tourist and transporting out-of town investors to see pipelines and cryogenics…Continue

Started this discussion. Last reply by Ron Eiselstein 7 hours ago.

"More! More! More Cryogenics Plants!"

Cryogenics are more unique to the Utica, than any play in the country.  Unique wherein, it has leaked that we need a lot more, a whole lot more.  A cryogenics plant is composed of trains I understand…Continue

Started on Tuesday

"BP To Sell Trumbull Utica Wells and Leases"
30 Replies

From a very reliable source I bring this information to The-People-of-The-Shale.Now, don't go fire selling your minerals or jumping off the Lake Erie cliffs.  What does this mean, is it the end of…Continue

Started this discussion. Last reply by Ron Eiselstein 7 hours ago.

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Latest Activity

Ron Eiselstein replied to Ron Eiselstein's discussion '"Two New Global Energy Companies wish to infuse Utica Landowners Cash"'
"The entire Utica Z Man."
7 hours ago
Ron Eiselstein replied to Ron Eiselstein's discussion '"The Landmen are Winning in the Utica"'
"David, very good common sense."
7 hours ago
Ron Eiselstein replied to Ron Eiselstein's discussion '"BP To Sell Trumbull Utica Wells and Leases"'
"Michele, I haven't really studied Unity, I do notice that wells in Unity are not completed.  The Atlas wells are right along major existing pipeline, which is why I feel those wells are there.  The Brinker storage is all…"
7 hours ago
Marcus Grayson replied to Ron Eiselstein's discussion '"BP To Sell Trumbull Utica Wells and Leases"'
"If I had saved the pdf I'd post it here but unfortunately I didn't have the foresight to keep it.  When you get your hands on it skip through the testimony of the HK reps, it's boring as sin.  You'll find a chart that…"
8 hours ago
Ron Eiselstein replied to Ron Eiselstein's discussion '"BP To Sell Trumbull Utica Wells and Leases"'
"Marcus, I pulled up the Kibler producing well file and no records of force pooling.  I know the Atty. who represents one of the Kibler's, I'll mention this when he gets back in town."
8 hours ago
Michele replied to Ron Eiselstein's discussion '"BP To Sell Trumbull Utica Wells and Leases"'
"Hi Ron, What do you think of Unity township in Columbiana County?  Do you think it will be a productive area for wet and dry gas?  Also, I was hoping you could answer this question for me.  The Firestone Well in Unity township has…"
20 hours ago
Marcus Grayson replied to Ron Eiselstein's discussion '"BP To Sell Trumbull Utica Wells and Leases"'
"Find the forced pooling request and it'll answer all your questions.  "
20 hours ago
Ron Eiselstein replied to Ron Eiselstein's discussion '"BP To Sell Trumbull Utica Wells and Leases"'
"Marcus, Very interesting, two of our associates are in one of the units with a Halcon well and do not have the information you have.  Can you kindly provide us the reference of what HK disclosed to ODNR?"
21 hours ago
David Mohn replied to Ron Eiselstein's discussion '"The Landmen are Winning in the Utica"'
"My feeling is that if someone is willing to buy from you, there is a reason why they want it no matter what they buy.  If someone buys a tractor from you, they buy it with the idea that they are going to make money from it.  Not because it…"
22 hours ago
Marcus Grayson replied to Ron Eiselstein's discussion '"BP To Sell Trumbull Utica Wells and Leases"'
"The two reports I've seen show between a 50-70% loss, depending on how you model the declines.  Hell, HK disclosed to ODNR that the Kibler well was going to lose them money despite using a EUR that was nowhere near reality."
yesterday
Ron Eiselstein replied to Ron Eiselstein's discussion '"BP To Sell Trumbull Utica Wells and Leases"'
"The well I'm privy to isn't doing bad at all during optimization especially when not inproduction."
yesterday
Marcus Grayson replied to Ron Eiselstein's discussion '"BP To Sell Trumbull Utica Wells and Leases"'
"Then you know how lousy the wells are.  There's one in particular that has been an unmitigated disaster for HK.  That doesn't mean it'll never work, it just means that right now, with the tech and the operators we have in…"
yesterday
Ron Eiselstein replied to Ron Eiselstein's discussion '"BP To Sell Trumbull Utica Wells and Leases"'
"I've seen and read one of the royalty reports on a Halcon well up in Trumbull."
yesterday
Marcus Grayson replied to Ron Eiselstein's discussion '"BP To Sell Trumbull Utica Wells and Leases"'
"I know what everyone else knows.  The geology isn't lined up with the costs and the technology today.  That can change and in the oil patch it tends to do so rather rapidly, at least in what we'll call the 'modern era'…"
yesterday
Nancy replied to Ron Eiselstein's discussion '"Two New Global Energy Companies wish to infuse Utica Landowners Cash"'
"Ron, Is there ANY hope for Hookstown, Pa. ?   ps.   So glad to have you back !  You... were Missed !  "
yesterday
Ron Eiselstein replied to Ron Eiselstein's discussion '"BP To Sell Trumbull Utica Wells and Leases"'
"@deer, It could have ben Venango, my point was Halcon says pulling out of the north and then secures permits for northern development.  You have to listen to what they do."
yesterday

Profile Information

What is your role in the Marcellus?
Landowner
Why are you here?
Networking, Learning
Which state(s) are you following?
Ohio
Tell us your story...
A lot of research

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Comment Wall (12 comments)

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At 1:33pm on January 28, 2013, Hank said…

Hello Ron,

I saw your post on banks loaning money on mineral rights .....Can you tell me if you know of any banks that are doing this now.

At 9:57am on June 1, 2012, Summer Johnston said…

Ron, I spoke to you about 10 days or so ago but have lost your phone number.

Will you send it to me via PM?

 

 

At 12:05pm on March 10, 2012, stephen brescia said…

HyRon, why do we need to pay to see what is going on in mahoning county? Steve

At 3:57pm on February 19, 2012, David Perotto said…
I understand, fingers crossed. Let me know if new info becomes available on the Columbiana piece.
Thanks,
Dave
At 2:32pm on February 19, 2012, David Perotto said…

Hi Ron,

Alden is moving on the LLC's & agreement. Let me know if you have any questions for me. I have one question for you. When we pay the court, will they require a bank check, seems most likely that this is a yes. I need to open a bank account, probably easier to open at a branch near the court. All other banking can be done online. Do you know the address of the bankruptcy court?

Thanks,

Dave

At 6:29pm on February 10, 2012, ray schmidt said…
At 10:07pm on December 27, 2011, Bruce Behner said…

Thanks Ron, I'll call you tomorrow.  I haven't had time to get online today to check my messages.  I appreciate this, more than you know.  Not only is it hard for me to visit the courthouse because of time constraints but most of the time I'm in Knox county or on the eastern shore and only visit my hometown once or twice a month.

At 5:19am on December 27, 2011, Bruce Behner said…

This land is in Mahoning county, two separate parcels but probably on one lease.  I tried the county website to no avail.  I shot an email yesterday to Nancy Palermo, the county recorder but dont expect much from that either.  Thinking of calling the office later today.

At 1:30am on December 26, 2011, Bruce Behner said…

Ron,

I am in search of my existing lease for old wells that was signed somewhere in the 20's.  Ive tried the courthouse but with all the action in my area it has been packed with a line down the street a mile long.  I was told all records were digitized but after a search on the county website I couldnt find anything on my property.  I dont have a lot of money for lawyers so I'm trying to do as much footwork as I can myself.  Do you have any suggestions? I know I sound impatient for not waiting at the courthouse but I have a life outside this shale play.

At 6:57pm on November 19, 2011, Dave said…

It is almost impossible to imagine that 10 years ago the United States was facing a real natural gas supply problem. This TIME article discussed the pending natural gas shortage facing the nation in 2003:

“This comes at a time when Americans are heading into their first big energy squeeze since the 1970s: a shortage of natural gas, the invisible resource used to heat homes, fuel kitchen appliances, generate electricity and manufacture many of the chemicals we use. The shortage has triggered a sharp rise in prices that is likely to exact a heavy toll on low- and middle-income Americans, especially those living on fixed incomes. Home heating bills last winter more than doubled in some areas, and they are expected to go up at least another 20% this winter. Electric bills also will spike because generating plants are increasingly gas-fueled. And in places like Louisiana, where the petrochemical industry makes up a big part of the local economy, the shortage is causing a loss of jobs, with at least 2,000 layoffs so far. The entire industry may be forced to move offshore over the next few years if there is no relief.“

Things looked bleak enough on the domestic natural gas supply front that plans were made and capital invested in LNG import terminals to bring natural gas into the United States from abroad.

But something happened. Shale gas.

Driven by independent energy producers like Chesapeake (CHK), Southwestern (SWN) and XTO Energy, technological advancements utilizing horizontal drilling and multi-stage fracturing opened up previously uneconomic sources of natural gas.

What was once a looming shortfall of natural gas became an abundance as natural gas shale plays like the Barnett, Fayetteville and Haynesville were rapidly drilled up. These companies were actually too successful as the ramp up in natural gas supplies cratered the price of the commodity that they were selling.

With natural gas prices in the $4 range much of the natural gas being produced today is not making much (if any) money for the companies producing it. In my mind at some point market forces are going to have to reduce supply so that prices push back up to a level where a reasonable return is available for producers.

One place to look for hope for natural gas prices is by examining what the largest producers are doing. If they are taking actions to reduce supply, perhaps in time a better price will be the result. In reviewing the most recent presentation from Chesapeake Energy I found some encouraging details.

Consider the following from the presentation linked above:

In 2000 U.S. natural gas production was 54bcf/day
In 2011 U.S. natural gas production was 64 bcf/day
That is an increase of 10 bcf/day
In 2000 Chesapeake was producing 1.1bcf/day
In 2011 Chesapeake was producing 5.4bcf/day
That is an increase of 4.3bcf/day
Amazingly 4.3bcf/day of the 10bcf/day increase in U.S. natural gas production came from one company, Chesapeake Energy. Chesapeake accounted for 2% of U.S. natural gas production in 2000 and 9% of U.S. natural gas production in 2011.

And that company is now about to intentionally cease growing its natural gas production as it shifts capital to liquids and oil plays. This move by Chesapeake alone is going to remove much of the growth from U.S. natural gas production.

Of course Chesapeake isn’t alone in slowing natural gas drilling. Any company that can is doing the same thing as oil production is more profitable than natural gas production at current commodity prices.

With capital spending directed toward emerging unconventional oil plays and drilling shale gas wells needed to hold leasehold interests coming to an end we can at least see that at least the rapid supply growth of the last decade should be coming to an end.

If we can also get some help through an increase in demand there may be reasons to be bullish on natural gas. The following forces will contribute on the demand side, how much I’m not sure:

The United States will begin exporting LNG in 2015 into foreign markets where prices are much higher.
Continuation and acceleration of the shift of power generation from coal to natural gas.
Construction in the United States of Gas to Liquids Plants.
An increase in Compressed Natural Gas vehicles.
The forces are starting to work toward an improvement in natural gas prices. The question becomes do you lay your bets now on a recovery or do you wait until the recovery is clearly underway.

At this point I don’t know the answer to that question.

 
 
 

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