GASFRAC Using Butane/Mineral Oil to Frack Utica Well

I read just a few lines in GASFRAC's press release of 11/14/14 that says:

"GASFRAC has just commenced fracturing its first well in the Utica Shale formation.  A number of exploration and production companies have an ownership interest in this well and are closely monitoring the project with the potential for GASFRAC to perform fracturing services on other wells in the Utica Shale formation."

Here is link to press release, but I have quoted all that is stated about the Utica fracking.

http://www.gasfrac.com/assets/files/Q3%202014%20GASFRAC%20Q3%20Pres...

Now today I read some comments made by EV Energy Partners saying:

"In other news EV Energy Partners said production could begin in December on a much watched Utica oil well in Tuscarawas County.  The company drilled the experimental well with eight other industry partners Walker(company's executive chairman) said. "This is a test of what could be EnerVest and EVEP's most valuable asset in the Utica," he said.  Getting oil from the Utica shale has proven to be difficult for drillers to date.  That well near Uhrichsville is being hydraulically fractured or fracked with liquid butane and mineral oil.  That should be complete in two weeks.  "We're excited but cautious as we are bringing new technology to bear in this process,"  said company president and CEO Mark Houser.  "We are in the middle of the completion operations and have completed five of the 20 (fracking) stages so far."

Source of these comments is at:

http://www.shaledirectories.com/news/Facts-Rumors-122-November-15-2014

Question is who are the other eight partners?

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Replies to This Discussion

Permalink Reply by james david lamm on November 16, 2014 at 7:35am

I hope this method unlocks the Utica oil window. at some point, someone will crack the code and the northern leases will come to life after all the duds that have ben drilled north of state rt.30  if they do, that cheap gasfrack stock will go wild..it is currently .54 cent a share after the crapy earnings Friday. I would almost bet chk has an intrest in this well as they have partnered  with enervest on some others.

Permalink Reply by searcherone on November 16, 2014 at 8:42am

I am thinking that this project must be looking fairly good as they are leaking a few details.   If it was looking non productive they would have a very tight lid on the entire project,      According to the EV Energy Partners comments we may only have to wait a couple of weeks to hear the outcome.

Permalink Reply by TM on November 16, 2014 at 9:32am

Larry Chlebina - Chlebina Capital

Thank you. Jason, I’d like to walk through a little bit more on your current activity in the fourth quarter, specifically in the Utica. Can you talk about what that project and tell us what the goal is and I’m just reading or listening to the conference call as some of the participants they seem to have real high hopes for the outcome of that well.

Jason Munro - President

Yes so do we Larry. I guess I’ll go back to the same conference over the last conference call. We think that we’ve got the right formula for the Utica in the oil window and we are very excited to – draw that we are currently on the operations going very well and we’re getting lots of interest in the Utica and that oil window. So the goal is to complete the job, have incremental production and step out from there. We made a tremendous commitment by doing a job in Ohio and we want to stay there. So hope that answers your question.

Larry Chlebina - Chlebina Capital

Well the timeframe that the participants are talking about they are looking for results maybe early December. Is that kind of still on track?

Mark Williamson - Interim Chief Executive Officer

Yes, we are actually a little bit ahead of schedule on the fracking, so I think they will flow back 60 to 90 days and then we’ll have a good confirmation of what the well delivery is, but I think we’ll have a reasonable idea in December Larry.

http://seekingalpha.com/article/2683775-gasfrac-energy-services-gsf...

Permalink Reply by james david lamm on November 16, 2014 at 9:45am

a person I know directly involved with this project said there will be no rest period for the well. as soon as frack crew gone,they are going to commence flowback  best of luck to them.

 

Permalink Reply by Joseph-Ohio on November 16, 2014 at 11:12am
Best of luck to them along with all in the so called 'tight shale Utica' - North, South, East and West.

Maybe the Keystone Pipeline Project (once approved) will spur it all on now that it seems to be finally getting attention in Washington ?

Maybe that's the greatest cause (Keystone Pipeline Political delays) behind not accelerating concentration on 'cracking the tight shale code' and what has been behind and hindering more and faster shale development ?

I'm on that bus.

What do you folks think ?
Permalink Reply by james david lamm on November 16, 2014 at 11:41am

you are correct jesse. if this frack don't work, gasfrack is closer to toast than ever. if it works, it will take off like a rocket.

Permalink Reply by Joseph-Ohio on November 16, 2014 at 12:36pm
You got a real knack for 'accentuating the negative' Jesse.

The lyrics are: 'accentuate the positive - eliminate the negative' as I recall.

There are at least (3) kinds of gases that I've heard of used and each behaves somewhat differently in application as I understand.

Propane, Butane and Nitrogen.

Heard a little about Diluent being used to fracture also.

I think (being the eternal cynic that I am and unable to rule it out) that they could probably already know the most appropriate fracturing medium for any geology they'll encounter. But that's only IMHO / my best guess on things.
Permalink Reply by Philip Thackray on November 16, 2014 at 12:42pm

And CO2 Joe

Permalink Reply by Joseph-Ohio on November 16, 2014 at 12:47pm
Of course, thank you Philip.
Permalink Reply by Joseph-Ohio on November 16, 2014 at 3:05pm
Got it Jesse.

Thanks for your clarification.
Permalink Reply by Joseph-Ohio on November 17, 2014 at 12:25am
BTW, I know it's 'business' and that's one of the primary reasons that I've developed my 'cynic's cynic' (very skeptical / very cynical) outlook on all of this.

Then there are all of the other reasons / indicators I've been seeing / hearing / reading about.

Always remember, like always, this is only IMHO.
Permalink Reply by Joseph-Ohio on November 17, 2014 at 2:49am
Just my best guesses Jesse but I think there's been alternative shale fracturing / recovery methods being looked at and utilized in other 'plays' (and even out of country - in Canada) for quite awhile. How long has this Canadian GasFrac Company been around I wonder ? I don't think this is their first rodeo myself.

Oil prices : I think they've been artificially high for quite awhile myself - OPEC started all that - pricing has been whatever the market would bear as opposed to being governed by development costs + a reasonable profit margin. Consumers are a captive market.

All just my read / IMHO.

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