Eichelberger Well - Devon Energy Updates

Attached is the permit file from ODNR and also a plat map of the well.

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Permalink Reply by Alan Pavlik on June 18, 2012 at 1:04pm

It would seem to me that the Eichelberger well is going to be a  producer otherwise why drill another location that close by?

 

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on June 18, 2012 at 3:51pm

Good wells often sit directly next to bad ones.  It happens frequently in shale plays.  But I think if Eichelberger wasn't going to be strong Devon would drill much further out, on another edge of their leasehold in order to derisk the field.  That looks like what they're doing at the moment, so perhaps a well closer to a completed one is a good sign.

1w1vl8clda7t4Permalink Reply by 1w1vl8clda7t4 on June 18, 2012 at 4:11pm
With big news like that I'm surprised you waited so long to post...kind of off the beaten path for a hog lagoon isn't?
Permalink Reply by NE Richland County landowner on June 18, 2012 at 4:29pm

As much as I hate to admit it, I am not yet independently wealthy and had kind of a busy day.  All good, I enjoy what I do, just another Monday. 

I had made an attempt earlier to post the "big news" but felt bad about being the bearer of this news and hoped someone else would find out and post so I focused on work, because I can't count on a bonus or royalty check just yet. 

I hope Bob is wrong.  I was hopeful the dozer was for a pad but I would not bet on it.  Don't shoot the messenger, I can assure you I am not a landman working for Devon and nothing more than a hardworking 3rd generation NE Richland County Landowner who is trying to provide accurate info for my neighborhood when I can.

1w1vl8clda7t4Permalink Reply by 1w1vl8clda7t4 on June 18, 2012 at 4:38pm
All good...maybe it is a hog lagoon...its just like in the middle of nowhere. I did here from the meeting that Devon paid upwards of $2,500 an acre for CHK's leases in the area. I would say CHK. still has a minimum of a 12% working interest in the leases to allow Aubrey to participate in the FWPP...but maybe not.
1w1vl8clda7t4Permalink Reply by 1w1vl8clda7t4 on June 21, 2012 at 4:43am

I did some research and found several different well stimulation/fracturing monitoring possibilities from two companies…Halliburton & Schlumberger. Since Devon uses Halliburton, I would speculate and say it’s probably one of their systems through “Pinnacle”…which is owned by Halliburton.

After reading about the stimulation/fracturing monitoring process…I truly believe that Horizontal Drilling is definitely more science than art…it is truly amazing what today’s technology allows drillers to do. Geologist have known about the hydrocarbons trapped in shale plays for over 100 years…we just didn’t have the technology to get it out…that has all changed. It’s a great time to be alive and watch how the human race repeatedly defies past fallacies.   

 

I found this new film that will be released soon by National Association of Entrepreneurship, “Energizing America.” The first part of the five part series is titled “The 100 year secret.” http://www.prweb.com/releases/2012/6/prweb9517862.htm

 

Here are links to Halliburton & Schlumberger’s stimulation monitoring services:

http://sdrv.ms/KWcgbZ

http://sdrv.ms/MHcnu4

 

1w1vl8clda7t4Permalink Reply by 1w1vl8clda7t4 on June 21, 2012 at 5:08am
No I didn't...but I knew they have acreage over there. Did you here that Sinopec is in negotiations with Chesapeake regarding their Utica acreage? Now that will be interesting if that deal goes through...I dont have any specifics wheather it will be a complete sell-off, or a JV....time will tell!

http://www.reuters.com/article/2012/06/20/chesapeake-sinopec-idUSL1...
1w1vl8clda7t4Permalink Reply by 1w1vl8clda7t4 on June 21, 2012 at 5:26am
yea..I was long the July 20 call and got out @ .84...the same call is trading @ .47 as we speak.
1w1vl8clda7t4Permalink Reply by 1w1vl8clda7t4 on June 22, 2012 at 2:27am

It's the oldest business trick in the world...act like you’re not interested and move where the grass is supposedly greener…Guernsey County for example. We are all just puppets in this puppet show with our strings being pulled by the puppet masters; however, strings get old and brittle and eventually break.   

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on June 22, 2012 at 3:33am

DVN has a lot of acreage under lease right now.  I'm not surprised that they want more data points before spending any further.  Ditto Anadarko.  Endeavor never really seemed to get off the ground.  Their leasing program in Wayne county had them filling in gaps between all of the HBP land and I think they were unwilling to pony up huge dollars to buy out old producers.  Of those three I think DVN is best positioned to make real progress.  I just hope they stay in the Ashland, Richland, Wayne, Medina, Holmes et al areas rather than going off into Guernsey.  

1w1vl8clda7t4Permalink Reply by 1w1vl8clda7t4 on June 22, 2012 at 9:14am

I just remembered what Devon's CEO John Richels said during the 1st quarter conference call on 5/2/12, but rather than trying to repeat it word for word I'll copy and paste:

"After those three wells, we are actually going to release that rig for some period of time, and then we are going to go back and pick up a higher horsepower rig that's required to drill our acreage a little bit further to the east, which we think is closer to the liquids rich window. So we will be picking up activity further to the east, more in Coshocton County, Guernsey County, in that area. I might mention, we are also participating in a completion of a well, where Intervest is operating in the RHDK well that's in far northwest Guernsey County in there, moving forward with the completion of that well. We are not at this point, adding additional acreage. We want to see the results of what these wells are. We are happy with our position. Obviously, the further you move east, and our acreage position becomes more liquids rich, and probably lower risk, but not necessarily the economics will work great, if the oil window works well, and that's what we just need to find out for sure." 

So they are sticking to their plan of action!!!!!

BGJ

1w1vl8clda7t4Permalink Reply by 1w1vl8clda7t4 on June 22, 2012 at 10:05am

I'm not trying to be to technical here, but according to the ORC, If your inside a township with fewer than 5,000 residents a drilling permit is good for 2 years: ORC 1509.06 Application for permit to drill, reopen, convert or plug back well.

(I) A permit shall be issued by the chief in accordance with this chapter. A permit issued under this section for a well that is or is to be located in an urbanized area shall be valid for twelve months, and all other permits issued under this section shall be valid for twenty-four months.

(Y) "Urbanized area" means an area where a well or production facilities of a well are located within a municipal corporation or within a township that has an unincorporated population of more than five thousand in the most recent federal decennial census prior to the issuance of the permit for the well or production facilities.

Now, with the passing of 315 that may have changed...I have not read it.

BGJ

 

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