Replies to This Discussion

Permalink Reply by jonathan M. on July 25, 2014 at 2:15am

Odnr released numbers for this well in latest report. 454 barrels of oil and 37mmcf of gas in 16 days online. Not too good

Permalink Reply by TJT on July 25, 2014 at 5:15am

Why not good? There is oil, as opposed to no oil. I think that's the takeaway. You can't make many assumptions about production amounts with just two weeks of data.

Permalink Reply by jonathan M. on July 25, 2014 at 6:32am

I wasn't making assumptions. Simply commenting on the production that was released which is not very good. 28 barrels a day is better than no oil but not by much.

Permalink Reply by Kelly Young on July 25, 2014 at 2:17am

Do you know how the other wells in that area are doing? Trebelcock's etc

Permalink Reply by CraneMAN_69 on July 25, 2014 at 2:18am

If you call Chesepeake royalty owners hotline, they will tell you (approximately) when division orders / checks will go out. Trebilcock is to have checks issues roughly the end of July or sometime in August. I think these two wells went online within a week or so.

Permalink Reply by CraneMAN_69 on July 25, 2014 at 2:20am

Regarding production numbers... we're hoping the nearly identical numbers on the Trebilcock pad indicate all are choked back to reduce the steep production declines over time. Only time will tell.

Permalink Reply by jonathan M. on July 25, 2014 at 3:20am

I agree the wells are probably choked back. But how much? I think what tells the story is the lack of new permits and the fact that Chk has only had one rig or less in columbiana for well over a year now. Probably just drilling to hold leases...

Permalink Reply by Kelly Young on July 25, 2014 at 3:22am

What does all of this mean? Is it not as good around here as everyone thought it would be years ago? Or just holding back like Craneman said to reduce steep production declines??

Permalink Reply by CraneMAN_69 on July 25, 2014 at 3:46am

I think everyone agrees this area is not 'as good' as Carrol county has been, but no one knows the potential until longer production runs are documented that can help us better identify what our exact production potential is. The technology continues to change including the possibility of re-frac'ing down the road which has been tested with very good results elsewhere. Chesepeake has undoubtedly moved almost all drilling operations, but most of the leases they really wanted to retain were tied up with the flurry of activity during 2013. I agree that the lack of 'super-well' potential in Columbiana County is undoubtedly affecting their moves, but I believe we're still very much in the oil/gas play -just not the most desirable area.

Permalink Reply by jonathan M. on July 25, 2014 at 4:01am

Well said. I believe the wells should be economic in columbiana but definitely not what they were hoping for...

Permalink Reply by beetle on July 25, 2014 at 4:05am

My philospy is if ther wasn't money to be made why spend all this money on pipeline in southern col. co.? All of these wells are connected to pipelines . If they are bad wells why not just cap them and let the leases expire.? In my opinion we are just seeing the beginning of what is yet to come for southern columbiana county. Maybe we need to look at the big picture .  

Permalink Reply by jonathan M. on July 25, 2014 at 4:25am

Beetle, no one said they were bad wells. They're just not as good as they were hoping for. They should still make money just not as much as they once thought.

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