Utica well rumored to produce 15 million cubic ft a day

There is an article out today that mentions what I believe to be about buell well in harrison county.

 

"Take the example of what may be the most productive well in Ohio history. State Sen. Jimmy Stewart, R-Albany, said he heard a rural Harrison County well was pumping 15 million cubic feet of gas daily.

A spokeswoman for Chesapeake Energy, the Oklahoma-based owner, said the well in question is still being evaluated, and he couldn't confirm the numbers."

 

The link to article is http://www.thenews-messenger.com/article/20110423/NEWS01/104230305/...

 

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015334grltd9mPermalink Reply by 015334grltd9m on April 26, 2011 at 3:31pm

In the Mahoning county, we have five new landgroups with meetings every week.  Remember, it is in Mahoning county wherein the second NOMAC well was sunk in eastern, Ohio.  The ODNR several months ago, displayed geology maps showing the Utica being the thickest in the Mahoning Valley.  Mason Dixon Energy disclosed in front of two of our lawyers and I was there, he stated: "It is oil and it is the Utica shale."  You will never get a full confirmation from the oil industry until they want the info. out there, it is what they do not say that you listen to?

 

Permalink Reply by scott jackovitch on April 26, 2011 at 11:31pm
Ron i was told that they are building a new steel mill in your area.  Supposedly the main purpose of the mill is to manufacture all of the well casings for the up and coming drilling boom. My source was from a mayor in your area have you heard the same ? He also stated they are here for oil and the gas is just a bonus.
015334grltd9mPermalink Reply by 015334grltd9m on April 27, 2011 at 12:38am

Yes, the existing mill V&M Star has been producing pipe for quite awhile  then two years ago the parent company invested the largest money into industry in the country.  You can see the new massive mill rising.  Of course this clued our land investors to mobilize, but initially geology told us that we missed the Marcellus here in eastern Ohio, then all hell broke out last October when Chesapeake moved the second NOMAC drill here and sunk a well.  BTW it is oil and the Mayor was sent a copy of our widely read paper attached right here on our Mahoning landgroup.

Permalink Reply by mark ayers on April 27, 2011 at 10:41am

$1,050.00 a month per acre at 20%.

 

  1000 x 112.00 = 112000 / 640 = 175 x .20 = 35 x 30days = 1,050

 

or I could be wrong..........

Permalink Reply by Paul Martinelli on April 27, 2011 at 11:06am

So....when they start pumping oil.....2 questions"

1. how many  barrels per day on 640 acres would be an average?

2. How would it be transportted from the well....truck/pipe?

Permalink Reply by JT on April 27, 2011 at 11:15pm

Following is a link to an online royalty calculator for both gas and oil:

http://www.mantralandservices.com/PageDisplay.asp?p1=3655 

0l1a6laz7smpfPermalink Reply by 0l1a6laz7smpf on May 4, 2011 at 6:29pm

Hi Jim...my lease says 'point of sale'...which I assume is 'market'...thanks for your input...made me look again at the lease.  Yet I do not like their 'market enhancement clause' in the same addendum regarding the lessor paying the costs of any enhancement (the entire cost deducted from lessor's royalty payment).

Permalink Reply by scott jackovitch on May 10, 2011 at 11:43am
Jim the landowner with 30 cares will make 30kto80k when ? Could you please explain .  Is that a monthly or an annual figure ?
Permalink Reply by LuckyGirl on May 11, 2011 at 12:16pm

I have 60 acres and I don't believe I will be getting monies such as that and I am leased at 18%.  Where did you hear about these kind of figures?

Permalink Reply by bill h on May 11, 2011 at 2:07pm
It depends greatly on where you are and what kind of well they drill, but my advice is: don't ever plan on more than 5 dollars/acre/day unless you're in the very best of drilling situations.  And remember, the well output will decline greatly over time.
Permalink Reply by scott jackovitch on May 17, 2011 at 11:34am

Matthew are those figures for gas or are they producing wet gas or oil ?

 

Permalink Reply by Josh on May 2, 2011 at 6:26am
Over the weekend two guys drove up to the Buell well and noticed 6 large white tanks, about 40 feet tall and about 15 in diameter.  Does anyone have any info on what these are for?(condensate?)

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