Value of Ohio Utica NOT Gone

http://www.crainscleveland.com/article/20130419/ENERGY/130419772/12...

This is the other side of the story, differing greatly from the Bloomberg report.  It is also posted in the discussion Ohio 5000 Billion Gone;  Poster named "Jim" asked me to start it as a discussion. 

Basically it says the Midstream players know the answer and they are building infrastucture meaning product is there.  Also it was never about oil, but WET GAS.

The quote at the end says it all, "if we were raising a child, we are in the first trimester of the pregnancy."

 

 

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Permalink Reply by Joseph-Ohio on April 20, 2013 at 12:21pm

I've been complaining about it all (everything about the 'play') taking too long for a long time now myself.

I've always thought of myself as a patient man too.

If you're leased - it's up to the O & G Companies to decide when to develop - that's one of the rights they've purchased with their leasehold.

If they think they're making enough money just the way things are now, it stands to reason to me that it all could be a big stall for enhanced profits for themselves at sometime in the future.

Where have I heard that one before ?

 

Permalink Reply by John OBrien, landowner advocate on April 20, 2013 at 1:42pm

Good call on this article.  Markwest is not slowing down on their plant only 35 miles from Woodsfield, Oh.  They just added 80 more acres to build on, and are saying it will take six years to complete the project.  This is from the trade union BA's who are looking for workers.  Not to worry folks.

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