How are the surging natural gas prices affecting drilling this year, and what about going into 2022?  Are the gas companies taking advantage of these higher prices?  What`s next?

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Why then do some gas companies continue to drill Utica wells?  EQT & Range in southwestern PA do not seem interested in Utica with their primary focus on Marcellus.  CNX Gas seems to be more focused on Utica although they are drilling Marcellus too.  Are the additional costs to drill a Utica well offset by drilling on an existing Marcellus pad reducing the overall cost for a new pad & pipeline?

CNX plans 26 Marcellus and 4 Utica in 2023 ... AR plans 1 .... CNX in the 4th qtr drilled zippo Utica ... One other item .. CNX buybacks are hardly moving the needle . Share compensation keeps share counts higher than advertised ... 

 It is  cheaper to drill a Utica off an existing  pad. as water facilities and pipelines are in place . To date it is very clear that the economics of the Utica does not compete with #1 Marcellus ... When the Marcellus is used up , Utica and other layers may become the norm ... 

 NFG with its grounds struggles to produce 1 BCF/d , while relative newcomers to Appalachia, produce 3 B's a day and better 

The wells you mentioned are TIL wells not new ones for 2023.  Watch for CNX to begin drilling more Marcellus vs. Utica going forward.  Their Utica program seems to have some problems to overcome.

What do you mean about CNX buybacks? 

CNX latest budget shows 4 Utica wells for 2023 .. 

 CNX like many others crow about their buybacks , yet after factoring in management stock awards , the share outstanding needle moves slower than advertised .. CNX is not alone with its buyback story ... Some outfits share count actually increase , while management crows about all the buybacks that are occurring... If I ran the SEC , I would demand that all Energy Companies disclose all info in a standard UNIFORM way ... The sector sure does use creative accounting ...   

Buybacks are advertised with great hoopla .. But many outfits award  to management almost aas many as they buyback ... Most outfits seem to take care of Management much better than their shareholders ...  The previous management  of CHK was the WORST , paying themselves very well while driving Chessie into Bankruptcy ...Share counts are usually posted near the Bottom of Balance Sheets ... Try to find the Share Count line that INCLUDES options .

A bonus for central and western Tioga is Marcellus wells are about average although Seneca has raised the bar on that,the bonus is you can drill Utica wells from the same pad at the same time. That brings there profit up.

If these are "fee acreage" areas then profit is even greater for Seneca.  Everything is relative.  At a minimum their profit would be at least 12.5% greater with fee acreage.

Even with the Royalty Free lands the NFG WDA region has a tough time matching well performance of other PA gas regions .. NFG acts much more like a Utility than a producer , and its 3% yield doesn't encourage much hoopla 

A very interesting thought ... are they not considered as a E&P gas company?  I have noticed their EUR ratings are somewhat lower then in SWPA.  Is this a reason why they drill so many wells?  Does their gas go mainly into NY? 

The reply button did not appear on your post Farmgas .. I would call NFG a confused producer .. Yes they do drill , but they also have pipelines and a REGULATED N gas retail operation .. Kinda like a Chinese restaurant that also cooks Mexican Food and Pizza too .. The 3% yield does not compete with most pipeline outfits and their Production numbers are inferior to top quality producers ..I doubt anyone is looking to buyout NFG in its current state . In the long run this energy business is a game of Musical Chairs , as assets deplete , producers must buyout others or merge to keep the spinning wheel turning . 

Seneca is focusing on Middlebury, compression stations,new gathering systems and drilling. Sabinsville and Chatham wells produce more with Utica wells.I guess there working there way to those area's.

Good comments by both Paleface and Farmgas ,,, it makes me rethink and dig deeper into the gas business .... 

I also own mineral rights just north of Tioga in Lindley NY , just down the gravel road to a major gas transport line ..  and also just NW of Corning , some of those regions are suffering economically and sure could use the financial benefits gas drilling would bring 

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