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 18, 2014 at 5:59am

I see the gasfrack stock has made a new 52 week low today.my o my  this better work or by by 

Permalink Reply by Joseph-Ohio on November 18, 2014 at 7:27am
This could be the opportunity that they've been waiting for.

I'm thinking that's how their looking at it.

Ever look for a job and can't find one ? I have.

Thinking they're looking for more than a couple of test wells however.

Like I said earlier - good luck to them and everyone in the tight shale Utica - North, South, East and West.

Standing by for good news.
Permalink Reply by James Vanderink on November 18, 2014 at 8:36am
GasFrac may be bankrupt by the end of the month. I'm sure Mariani could buy them out with his pocket change.
Permalink Reply by Joseph-Ohio on November 18, 2014 at 9:17am
Maybe being bought out by an outfit that would have the where-with-all to continue the work would be the best news for now.
Permalink Reply by Tree Farmer on March 3, 2015 at 8:55am

GASFRAC Announces Agreement for the Sale of Substantially All Operating Assets and Related Technology 

http://web.tmxmoney.com/article.php?newsid=73860149&qm_symbol=GFS

Permalink Reply by Joseph-Ohio on March 3, 2015 at 9:25am
Wonder what / who the firm / individual the buyer is ?

Probably won't know until later.

Early April, 2015 is the estimated close date from what I read.

Anyone have more info. ?
Permalink Reply by James Vanderink on March 3, 2015 at 9:30am
Did you buy it Joseph-Ohio?
Permalink Reply by Joseph-Ohio on March 3, 2015 at 10:34am
No way it was me.

That would be impossible.

Did you buy it J. V. ?
Permalink Reply by Tree Farmer on March 3, 2015 at 11:12am

It would be fun if Aubrey McClendon and his group is the buyer. Then Chesapeake and EVEP would be paying them for services in the Utica. That would be a hoot and could not be better served on those tards at Chesapeake and EVEP. You know what I mean if you have ever dealt with those 2.

Permalink Reply by william r rinehart on March 3, 2015 at 11:50am

Found this out about the Nettle well, initial reports compare to Cheaspeaks Parker well,

5,816 barrels of oil.http://www.ohio.com/news/local/ev-energy-partners-to-sell-interests...

Permalink Reply by David Perotto on March 3, 2015 at 12:12pm

that is 5816 barrels in 31 days of production, which is nearly 200 barrels per day. That is decent, but what is going to be the decline rate???

Permalink Reply by Joseph-Ohio on March 3, 2015 at 12:27pm
I would wager less decline than hydro-frac jobs (and especially in the nortern tier here in Ohio) as the water (I read) swells and diminishes the fractures over time. Further (I would think) it would be the case anywhere in the shale.

I'd also wager that a Gasfrac / a Nitrogen fracture job would be more expensive to perform (than a hydro-frac job). But if production would be significantly enhanced it may well be worth the additional expense.

They need to crunch the numbers and determine the best they're able.

That must take some effort and time.

Just my layman's practical guess this stuff.

What do you folks think.

Wishing all of us the best of luck as always.

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