Replies to This Discussion

Permalink Reply by Shower Bath on November 19, 2013 at 4:50am

Here's an interesting article on Gulfport. I do not advocate buying, or shorting their stock. You read the article and decide for yourself. See the link....

http://seekingalpha.com/article/1848211-penn-west-petroleum-and-ros...

Randy

Permalink Reply by Shower Bath on November 20, 2013 at 3:38am

A few new articles about the Utica. See the link....

http://www.drillingahead.com/page/utica-shale-news

Randy

Permalink Reply by scott peterson on November 20, 2013 at 3:45am

Thanks Randy...as always.

Permalink Reply by James Vanderink on November 26, 2013 at 1:19am

http://www.zanesvilletimesrecorder.com/article/20131121/NEWS01/3112...

Permalink Reply by Philip Brutz on December 24, 2013 at 12:39pm

Speculators ‘Throwing Money’ at Natural Gas on Icy Blast: Energy

http://www.bloomberg.com/news/2013-12-23/speculators-throwing-money...

Permalink Reply by Philip Brutz on December 24, 2013 at 1:41pm

Effective January 1, 2014, lessors and surface owners will be required to file additional instruments before an oil and gas lease will be deemed forfeited or a mineral interest will be deemed abandoned.

5301.332 [Effective 1/30/2014] Forfeiture for failure of lessee, successors or assigns to abide by specifically described covenants.

(A)

(1) Whenever leases of natural gas and oil lands recorded under section 5301.09 of the Revised Code concerning lands upon which there are no producing or drilling oil or gas wells become forfeited for failure of the lessee or the lessee's successors or assigns to abide by specifically described covenants provided for in the lease, or because the term of the lease has expired, the lessor or the lessor's successors or assigns may file for record an affidavit of forfeiture with the county recorder after serving notice by certified mail, return receipt requested, to the lessee or the lessee's successors or assigns, at the lessee's or the lessee's successors' or assigns' last known address, or if service is not obtained by certified mail, by giving notice by publication at least once in a newspaper of general circulation in the county in which the land is located of the lessor's intent to declare the lease forfeited.

(2) The notice or publication shall be addressed to the lessee or the lessee's successors or assigns, and shall contain the name of the lessee; a general description of the land; the number of acres; the date of the lease; the volume and page of the lease record where the lease is recorded; the cause of the forfeiture; and shall state the intention of the lessor to file for record an affidavit of forfeiture with the county recorder if the lessee does not have the lease released of record within thirty days from the date of receipt of the notice or of publication.

(B) After thirty days and not more than sixty days from the date of proof of mailing or publication of the notice, the lessor or the lessor's successors or assigns may file with the county recorder an affidavit of forfeiture setting forth that such person is the lessor of an oil or gas lease; the file number or volume and page of the lease record where the oil or gas lease is recorded; that the lessee or the lessee's successors or assigns, have failed and neglected to comply with specifically described covenants provided for in the lease, reciting the facts constituting such failure, or that the term of the lease has expired; that there are no producing or drilling oil or gas wells on the leased premises; that the lease has been forfeited and is void; and that notice was served on the lessee or the lessee's successors or assigns, or that publication was made, and the manner and time thereof.

(C) If the lessee or the lessee's successors or assigns claims that the lease is in full force and effect, the lessee or the lessee's successors or assigns shall, within sixty days after the mailing or publication of the notice of the lessor of the lessor's intention to declare the lease forfeited, notify the person who filed the affidavit of forfeiture of the claim, and file for record an affidavit with the office of the county recorder of the county in which the land is situated stating that the lease has not been forfeited and that the lessee or the lessee's successors or assigns still claim that the lease is in full force and effect.

(D) If the lessee or the lessee's successors or assigns do not give such notice in writing to the lessor at any time prior to the sixtieth day after the mailing or publication of the notice of the lessor of the lessor's intention to declare the lease forfeited, then the lessor shall file for record with the county recorder a notice of failure to file. The notice shall contain all of the following:

(1) A statement that the person filing the notice is the lessor or the lessor's successors or assigns;

(2) The document number or volume and page of the lease record where the oil or gas lease is recorded;

(3) A general description of the land;

(4) The statement: "This lease cancelled pursuant to affidavit of forfeiture recorded as Document Number ....., or Official Record/Lease Vol. ....., Page ....."

Thereafter, the record of the lease shall not be notice to the public of the existence of the lease or of any interest therein or rights thereunder and the record shall not be received in evidence in any court of the state on behalf of the lessee or the lessee's successors or assigns, or against the lessor or the lessor's successors or assigns.

(E) For recording the affidavit of forfeiture, the affidavit giving notice that the lease has not been forfeited, and the notice of failure to file, the county recorder shall charge the fees provided by section 317.32 of the Revised Code.

Amended by 130th General Assembly File No. TBD, HB 72, §1, eff. 1/30/2014.

Effective Date: 10-31-1979

http://codes.ohio.gov/orc/5301.332v2

Permalink Reply by Philip Brutz on January 1, 2014 at 3:09pm

http://www.firstenercastfinancial.com/news/story/56254-natural-gas-...

Natural Gas Finishes Year As Best-Performing Commodity

Published: Dec 31, 2013

--Natural gas best-performing commodity of 2013 with 26% gain

--Prices slump 4.5% to $4.23/mmBtu Tuesday on year-end profit taking

--Colder-than-normal weather expected to continue

By Nicole Friedman


NEW YORK--Natural gas slumped Tuesday as traders cashed in profits from the best-performing commodity of the year ahead of a midweek holiday.

Natural gas for February delivery tumbled 19.7 cents to $4.23 a million British thermal units on the New York Mercantile Exchange. The 4.5% drop was the biggest one-day decline since May.

Still, natural-gas futures rose 26% this year, their biggest one-year rise since 2005 and the largest percentage gain for any commodity in 2013. After a relatively mild winter last year reduced demand for gas-powered heating in homes and offices, this winter started off unusually cold and wintry weather has persisted.

"Everyone anticipated prices to recover some from last year, so it's not a surprise," said Kent Bayazitoglu, an analyst for energy consulting firm Gelber & Associates in Houston.

Compared with past years, "gas remains extremely cheap," he added.

Natural-gas prices typically rise in the summers and winters as very hot or very cold temperatures prompt people to blast air conditioning or indoor heating.

About half of all U.S. households use natural gas as their primary heating fuel, with natural-gas prices having climbed from less than $3.50/mmBtu in early November due to robust heating demand.

Unusually large amounts of natural gas have been withdrawn from storage in recent weeks, a sign of strong demand. Inventories as of Dec. 20 stood at 3.071 trillion cubic feet, 16% below the exceptionally high year-ago level and 9.2% below the five-year average for the week.

The Energy Information Administration is set to release its report for the week ended Dec. 27 on Friday at 10:30 a.m. EST.

Money managers, including hedge funds, pension funds and managed-money funds, held 134,670 more bets on rising natural gas prices than on falling prices on Dec. 24, the largest such position since at least June 2006, according to the Commodity Futures Trading Commission.

Colder-than-normal weather is forecast to continue in the next six to 10 days, especially in the Midwest and East Coast, key markets for natural-gas-powered heating, according to Commodity Weather Group LLC, a private forecaster based in Bethesda, Md.


FUTURES SETTLEMENT NET CHANGE
Nymex February $4.230 -19.7c
Nymex March $4.193 -18.9c
Nymex April $4.105 -13.6c

CASH HUB RANGE PREVIOUS DAY
Henry Hub $4.25-$4.38 $4.36-$4.445
Transco 65 $4.30-$4.34 $4.38-$4.43
Tex East M3 $4.70-$5.50 $4.20-$4.50
Transco Z6 $8.00-$25.00 $5.75-$6.50
SoCal $4.38-$4.50 $4.45-$4.555
El Paso Perm $4.225-$4.28 $4.25-$4.43
El Paso SJ $4.2475-$4.2875 $4.28-$4.43
Waha $4.22-$4.27 $4.30-$4.42
Katy $4.20-$4.25 $4.30-$4.36


Write to Nicole Friedman at nicole.friedman@wsj.com

Permalink Reply by Shower Bath on January 1, 2014 at 4:31pm

Fairly good summary on the ODNR reported Q3 production results. See the link......

http://www.ohio.com/blogs/drilling

Randy

Permalink Reply by Joseph-Ohio on January 1, 2014 at 5:22pm

Thanks for posting the info. Randall.

Noticed one (1) Trumbull County Well producing.

It's the Lennington Well.

Looked it up on the ODNR well locator and see that it looks to be a comparatively short lateral BP well (which may explain the lower production numbers).  Length of lateral looks comparable to the Morrison well in Mecca.  Halcon was all negative about the wells in northern Trumbull as you may recall.  Looks to me like it could be that they're not compensating for the shortness of the laterals.  On that basis thinking it may be a marketing strategy - you know - beating up the north end of the county to rationalize lowball lease offers to landowners - sounds like there could be some trickery / subterfuge involved. 

There's a Jewett well going in soon also in Trumbull County Johnston Township that looks to me is going to have a lateral about 5 times longer than the Morrison or the Lennington.

To be fair however the short length of the laterals could be for a myriad of reasons.  Maybe no leases beyond the indicated length ? ?  Lands beyond already HBP and can't be bought ? ? 

Thanks again Randall.

J-O

Permalink Reply by Joseph-Ohio on January 1, 2014 at 5:47pm

Randall,

Wondering why the ODNR Well Locator reports no production for the Halcon Kibler 1-2H well in Lordstown Township Trumbull County - that one was reported on these pages as quite a 'gusher'  (when it 'IPed') ? ?

ODNR Well Locator says it's in production.

What's up with that do you think ? ?

Permalink Reply by Shower Bath on January 8, 2014 at 3:41pm

Maybe it is shut-in, waiting on pipeline?

Randy

Permalink Reply by Joseph-Ohio on January 8, 2014 at 3:45pm

Distinct possibility.

Infrastructure bugaboo strikes again.

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