Current Events/Links/Press Releases/General Info

Consol issued a press release today updating their operations, including info on drilling activity in the Marcellus.

http://phx.corporate-ir.net/phoenix.zhtml?c=66439&p=irol-newsAr...=

Randy

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Permalink Reply by Shower Bath on March 30, 2012 at 2:39pm

My best guess is that the wells reported will be; Carroll Co - Neider 3H, Harvey 8H, Bucey 3H, and Mangun 8H, along with the Buell well in Harrison Co. There are other wells that were placed into production early in 2012, but we won't see those numbers untill next year. Drilling and completions will accelerate as we move into summer, as there are a number of wells already drilled and waiting to frac. Pipeline completion will be an issue untill 2013/2014.

Randy

Permalink Reply by BICS on March 31, 2012 at 6:02am

You can use the following map to view Utica wells by completion status (it was built using the current ODNR spreadsheet). Well pin color indicate status: green pins show wells in production; yellow pins show completed wells; red pins show wells drilled or drilling and black pins show wells permitted. You can view well info by clicking the pin and you can view production results by clicking the 'well data' link. Links are connections to ODNR so they always show current data, therefore you can use this next week to see 2011 production results on Monday 4/2 To view these maps you need the latest version Google Earth viewer. The free viewer can be downloaded at: http://www.google.com/earth Once map is loaded select the section(s) you want to view by clicking the sections in the index on the left side of the view.

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2s72s0k9mm8gdPermalink Reply by 2s72s0k9mm8gd on April 8, 2012 at 2:22am
Permalink Reply by time will tell on April 8, 2012 at 2:40am

Thanks for the article Glenn . This seems to make sense why things have declined unless you are in the wet gas zones . I have a few shallow wells , the last check I received after delivery charges was $1.56 . I hope that as things go forward that they find many more wet areas .

2s72s0k9mm8gdPermalink Reply by 2s72s0k9mm8gd on April 8, 2012 at 3:34am

Let's just hope the bottom doesn't fall out of NGL prices next. Good to know we have so much gas but now we need to kick up uses for it to stir some demand! Keep your fingers crossed!

Permalink Reply by time will tell on April 8, 2012 at 11:53am

I think they will glenn , they are going to start using NG more for power plants that will help a lot . I would like to see NG power cars more .

Permalink Reply by Jack Straw on April 8, 2012 at 6:42am

Every week the U.S. D.O.E. - E.I.A. publishes their "Weekly Natural Gas Storage Report".

This updated report typically is released every Thurday at 10:30 AM EDT (except when delayed as a result of holidays).

The most telling aspect of this (short) weekly report is the graph that denotes the amount of natural Gas in Storage (as compared to the five year average).

It is a simple plot, but very desciptive.

The format of the plot was such that I could not post it here in a fully legible fashion, but it can be found at the below link

http://ir.eia.gov/ngs/ngs.html

The plot currently shows that the amount of natural gas in storage started in December to strongly diverge from the five year average.

Everyone can draw their own conclusion; but, my read is that all available storage may be filled this Summer - perhaps as soon as early July.

Should that occur, there will be the necessity to shut-in many wells (for lack of available storage capacity) due to current excess supply.

All this is subject to weather. A warm 2011-2012 Winter (and a poor economy) contributed to anomalously lower natural gas requirements. A hot 2012 Summer (and an unlikely strong economic rebound) might contribute to higher natural gas requirements. Again, all this subject to weather.

In my opinion, it would take a very hot 2012 Summer and a very cold 2012-2013 Winter for the supply/demand structure to return to an equalibrium.

As rigs move from dry gas to wet gas - the wet gas production contains primarily dry gas (with a wet component). As rigs move from dry gas to oil- the oil production contains a lot of dry gas (as associated solution gas).

My intent is not to alarm, but to inform.

 

All IMHO,

                 JS

 

 

 

Permalink Reply by Jack Straw on April 8, 2012 at 6:56am

I neglected to point out that this weekly data release uses data that are current (to within 6 days).

These data, as presented, offer a good snapshot of the storage situation; as it currently exists.

I have the fore mentioned link bookmarked, and consult the report every Thursday (as a crystal ball to the future).

JS

Permalink Reply by time will tell on April 8, 2012 at 7:57am

Thanks Jack .

Permalink Reply by Billy Park Whyde on April 8, 2012 at 12:51pm

What do you make of this? "Reda expects about 4,000 Utica wells to be drilled by 2015, with only about 2,800 of those actually being completed."  See http://www.zanesvilletimesrecorder.com/article/20120408/NEWS01/2040...

Permalink Reply by Jack Straw on April 17, 2012 at 4:34am

Crude Oil To Natural Gas Ratio Explodes to 52:1

Permalink Reply by Shower Bath on April 17, 2012 at 8:26am

If you're in a dry gas area you might be interested in this article. See the link...

http://www.businessweek.com/articles/2012-04-17/is-natural-gas-too-...

Randy

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