EQT to stop drilling until 2016

According to a rep. from EQT, they will discontinue to drill any wells in the North Star rd. area.  The rep. indicated that the wells they have drilled have not had good pressures and they have had to pump the crude because of the low pressures.  They called me this week and said they will be removing the temp. water line across my property.   This is very disappointing considering they had planned 8 holes on my site.   All I can say is thanks for the sign on bonus. My lease is up in 2 years.   Hopefully I can just sign on again and somebody else buys the lease.  Maybe they don't know how to frack to get the pressures that everybody else is seeing. 

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Permalink Reply by Ryan Murray on November 17, 2014 at 6:03pm

What is the County and township? 

Permalink Reply by Philip Thackray on November 17, 2014 at 7:21pm

The EQT wells are in Spencer (mostly) and Valley Townships, Guernsey County, Ohio.  Southwestern Guernsey County.

Permalink Reply by C Tysinger on November 17, 2014 at 7:36pm

Valley Twp. Guernsey County

Permalink Reply by jason irvine on November 17, 2014 at 7:44pm
I thought the wells were good in Guernsey county.
Permalink Reply by evan on November 17, 2014 at 7:46pm

These wells are west of I 77,  the good wells are in eastern Guernsey.

Permalink Reply by C Tysinger on November 17, 2014 at 8:22pm

I think it is all about the money.  There are wells just couple of miles south of me in Noble county that are producing very well.  With the price of oil and gas down I think EQT is going to where the money is.  I can't believe after all the money they spent that they will just walk away.  Couple more years my current lease is up and we will probably sign with somebody else. EQT has spent several thousands to buy right a ways along with all these leases.  I can't see them throwing in the towel.  I have heard from several people that there method of fracking is just not producing like they would like.

Permalink Reply by Laura on November 18, 2014 at 7:30am
Hey mike fulper? What do you know/hear on this? Your insight is always welcome in that part of the country! I have an elderly aunt that lives on 313 was hoping some good news was coming her way :-(
Permalink Reply by Mike Fulper on November 18, 2014 at 8:10am

Well...

pardon the pun...

. its not real good....

Our first GAS check was for $159.......just for Sept..

We do know that there is little gas.. everyone knew that..

EQT is after the OIL....

The first 5 days of FLOWBACK produced over THIRTY TANKERS

of OIL/Condensate .

. AND all of the Flowback workers said the wells

were doing fine... they had nothing to hide....

I see on the average 4 tankers a day... .that's over 700 BBls of oil a day..

Not great.. but not bad....

It looks to me that they are HOLDING the OIL back..  BC of the Oil prices

We get a OIL check mid Dec.. We will let you know.. no big secret on our

part....

Our first EQT check wont pay for gas in Motor Home.. ha....

On the bright side.. its all Free what ever it is....

Wont be no rich people over here.....:)

I look for OIL production to jump up whenever prices climb..

There is no reason for EQT to drill any more wells. with the

Oil problems in the Middle East....

Once we incinerate the Middle East..:)

Our Oil production will climb..

and EQT will go back to drilling....

EQT has plenty of leases it can drill on in the future....

Still no UPDATE on when Dobeck will be fracked..

I think that will be a big CLUE.....

Suppose to Frack it first of DEC....

In the meantime.. I will go back to John Lannings

Country Boy Restaurant and flip some more BURGERS   :)

Don't anyone quit your Daytime jobs....

Permalink Reply by Laura on November 18, 2014 at 2:27pm
Thank you mike! Appreciate ya!
Permalink Reply by Samuel J. Orr on November 21, 2014 at 9:20pm

 Mike Fulper: 700 barrels of oil  per day is pretty impressive. At $80/barrell; that's $$56,000 per day or $!,680,000  ( one million, six hundred eighty thousand dollars) per month. If one landowner owns the entire unit, and royalty is 20%, landowner receives  $336,000 in royalties per month. And you think that's not great??? (Perhaps I am missing something. If so,please clarify things.)  

Permalink Reply by bo boboski on November 22, 2014 at 7:19am

From what I've read, it's not only how the wells are fracked, but how they are drilled. Rice Energy has had great success by being very particular about their drilling techniques. Maybe EQT's drill bits are going in places they shouldn't ?

Permalink Reply by jonathan M. on November 23, 2014 at 8:54pm
That couldn't be further from the truth. Every oil company "hires" out. Eqt is a very sizeable company and have the cash to drill the wells. Their market cap is about he size of chesapeake. Both anadarko and devon (huge companies) attempted drilling in the same areas and did not succeed. Would you say they disn't have the cash either??

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