Positive News for Trumbull County

It's been a bit of a roller coaster ride over the years for us in Trumbull County. The last few decades have had more downs than ups. Looks like we may be in for a LONG good stretch. Nay sayers beware. I especially like this statement in the article. "This is the first four wells (contracts) they are handing out, and they are thinking there will be 2,000 of them. They are all in Trumbull County. It's going to be huge."  If that number was 200 instead of two thousand it would still be exciting. Just think of the positive economic impact of 2000 wells over time in our county. Hang on for the ride. Link below.

Growing fast - TribToday.com - News, Sports, Jobs, Community Inform...

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Replies to This Discussion

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on September 11, 2013 at 9:32am

"I doubt that this much money would have been loaned to anyone without full belief in the collateral."

Then you were asleep from 2005 to 2010.  

But in all seriousness, this sort of debt load is something CHK is very accustomed to having and it seems that recent Halcon results further illustrate the potential in Trumbull county.

Permalink Reply by D M on September 11, 2013 at 12:19pm

Good point, but I am sure banks have since learned their lesson, right? :)  I suppose there isn't much risk if we the people are happy to cover their mistakes. We must be happy about it, as it seems that it all may be gearing up to happen again. As for debt load, I am pretty frugal, my eyes glaze over at even the average cost of a house. Half a billion dollars doesn't hardly compute. I guess the big boys and girls will do what they do without input from me, but it is interesting. Thanks for your input.

Permalink Reply by Brad on September 27, 2013 at 9:32am

Wow, where was this stated?

Permalink Reply by MJ on September 27, 2013 at 9:59am

Snort widley says Bp is pulling out of trumbull. 

Permalink Reply by john p halloran on September 27, 2013 at 11:42am
BP spent 350 million for leases are they going to leave all that behind?
Permalink Reply by MJ on September 27, 2013 at 12:07pm

I really doubt it JP.  Lots of folks here with an agenda of some sort. 

Permalink Reply by Ben Campbell on September 27, 2013 at 12:47pm

For what it's worth a guy that works on the pad near 193 and 305 says that well only had 150 psi at wellhead.  I'm not an oil guy and don't pretend to be but if this is true it won't bode well for us northerners.

It may all be BS but he's a stand up guy.  I know nothing other than what I just typed.

Permalink Reply by Garfield on September 27, 2013 at 4:04pm

Here's my "for what it's worth"...

I was looking at Mountaineer Keystone's 14-stage frac report on the Soinski-201 well in NE Portage County recently (see attached .PDF copy) where they are drilling into 110' of Point Pleasant thickness.  Wellhead pressures reported for stages 2 thru 14 were all between 2063 PSI and 2701 PSI.  This well is at roughly the same (or slightly shallower) depth than most all of northern Trumbull County.

So here's my question for the experts...  All else being equal, would we not expect to see similar pressures for northern Trumbull County horizontal wells at similar depths?  Seems to me like pressures would correlate strongly to depth.

Attachments:
0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on September 27, 2013 at 4:42pm

Garfield, 

Pressure can be a funny thing and is determined by more than just depth.  The earlier claim of 150 psi is really, really low (though of course possible).  A number of things can make a reservoir underpressured, including a poor frac job.  BP could frac 30 wells tomorrow and still not be 100% sure how the reservoir is going to behave.  The truth is that it's really hard to get it right from the get go and I'd assume that BP (and Halcon as well) will take a number of stabs at it before they would pull up stakes and leave.  To this day I'm skeptical about Northern Trumbull/Southern Ashtabula but I will wait for data to make my decision rather than rumors and innuendo.  And I say that as someone who has zero stake in how the wells in Trumbull county pan out.  I have no interests there (aside from my faith in an economic boom for those folks) and I will not make a dime one way or the other.

Permalink Reply by B.A. on November 6, 2013 at 1:15pm

Well I guess the article in the trib this morning about sums it up for us up in the ''northern'' part of the county !! Glad I didn't make any big plans for a ''good'' future !!!

 

Permalink Reply by D M on November 7, 2013 at 3:08pm

I agree that the Tribune article doesn't fall into the positive category, but I will not throw in the towel over the whimpering of one CEO of one company who has drilled only three wells in the entire county. None of which, by the way, were drilled in Northern Trumbull County. I also remember reading that their Kibler (Trumbull County) well is one of the top ten in the state. I am sure the Utica will not produce productively at some point somewhere, but the jury is still out about our county. I have personally spoken to some friends that have signed leases for a planned twelve inch gathering line that is no where near the Kibler well. There is a lot seemingly going on quietly in the background for our area to be considered unproductive. Right now, BP has the most drill bit knowledge of what we are sitting on, and they aren't officially talking yet. It will be very interesting and important when they do. I hope it is soon. The news could be good or bad. I hope what they report is positive. Only time will tell.   

Permalink Reply by Nelson E. Yost on November 7, 2013 at 8:55pm

We could still be in the oil window too...they are working on new ways to get the oil up...when they do watch out! Worth a lot more and been down there a long time...I can wait.

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