Replies to This Discussion

Permalink Reply by 1w1vl8clda7t4 on July 20, 2012 at 5:07pm

This article was in today's Mansfield News Journal in case anyone missed it . At least someone agrees with me!

http://ohne.ws/NFJ9uj

Permalink Reply by 1w1vl8clda7t4 on July 20, 2012 at 5:46pm

Well...since the most liberal news paper in Ohio broke the link to the story before the end of the day...here it is in PDF form.

 

http://sdrv.ms/O3Wdfv

Permalink Reply by Alan Pavlik on July 21, 2012 at 8:20am

BGJ

I've been on vacation and I'm trying to understand the updates about Devon particularly Ashland-Richland County areas,  is the rumor  that the Eicheberger well is mostly water or all the wells drilled by devon are a bust or just certain ones? Your opinion please,

Thank you

Permalink Reply by 1w1vl8clda7t4 on July 20, 2012 at 5:45pm

I wouldn't count on anything until the check is in your hands my friend.

Permalink Reply by 1w1vl8clda7t4 on July 21, 2012 at 10:34am

Allen, I'm not going to tell you what to believe or not to believe. There is a barrage of info on here to put  your own assumptions together. Yes...I heard a month ago that there was water in the borehole...it's not uncommon as I posted above. If Devon doesn't produce anything from those wells this year they won't have to report their results in March 2013...they could also apply for "Temporary Inactive Well  Status" (ORC 1509.062) and Devon could hold all of their leases without producing one drop of oil...indefinetly! Why? Because their leases state "capable of producing in paying quantities". Here are a few excerpts from ORC 1509.062:

(2) "If a well has a reported annual production that is less than one hundred thousand cubic feet of natural gas or fifteen barrels of crude oil, or a combination thereof, the chief may require the owner of the well to submit an application for temporary inactive well status under this section for the well." 

(5) "A demonstration that the well is of future utility and that the applicant has a viable plan to utilize the well within a reasonable period of time."

"Upon receipt of the chief’s approval, the owner shall shut in the well and empty all liquids and gases from all storage tanks, pipelines, and other equipment associated with the well. In addition, the owner shall maintain the well, other equipment associated with the well, and the surface location of the well in a manner that prevents hazards to the health and safety of people and the environment."

"The owner of a well that has been approved by the chief for temporary inactive well status may commence production from the well at any time. Not later than sixty days after the commencement of production from such a well, the owner shall notify the chief of the commencement of production."

Devon could disseminate to the public that the well has been plugged and abandoned and no one would know the difference. Just a theory! Make your own conclusions.

BGJ

 

Attachments:

• LAWWriter (OH Revised Code 1509).pdf, 639 KB

Permalink Reply by 1w1vl8clda7t4 on July 21, 2012 at 1:45pm

JODI, they don't have to plug the wells...they just have to shut them in, and shut in wells are considered producing wells. All they have to do is produce less than 15 barrels of oil and/or 100,000 cubic feet of gas or less in any combination...it's that simple.

Permalink Reply by dan gladyszewski on July 30, 2012 at 8:43pm

I don't believe they are totally done with our areas. There is too much oil sitting down there to walk away. Devon or whomever, will want a crack at it someday. My money is on Devon, I think they'll try to recoup profits on other producing wells while trying to figure out what technique to use in our areas to extract that oil. It may take the price of crude to climb higher to make it profitable, who knows. I don't think they've given up, just a setback right now. If they don't take a crack at it, someone else will and might hit everthing just right. I'm quite convinced Devon is aware of that. As always with this shale business, patience. I agree with BGJ, at worst, they'll shut it in.

Permalink Reply by Alan Pavlik on July 31, 2012 at 8:02am

How do you know there is too much oil sitting down there? How can you see the oil sitting down there?

 Is it the opinion that the Eichelberger well has gone to water?

Alot of people believe that there is no risk in drilling these well(s) and that the oil is just down

there waiting to be brought to the surface. If that were true then everyone and there brother would have been doing it. It seems that the rumors about the Eichelberger well has tempered the excitement about the area, one well does not condemn an area.

 

Permalink Reply by oil guy on August 1, 2012 at 7:08am

It pretty well is common knowledge the oil is sitting down there. It depends on wether or not the shale wants to release it. That is the major risk

Permalink Reply by 1w1vl8clda7t4 on August 1, 2012 at 9:41am

If there is enough oil to produce at a profit...they'll figure out a way to get it out.

Permalink Reply by Utica watch on August 1, 2012 at 1:31pm

12:13 PM  Devon Energy (DVN -5.2%) says in its conference call that the results from its first two Utica shale wells were "disappointing," but it still plans to drill five more wells wells in the Utica shale by year end. ( Webcast ) 

Permalink Reply by 1w1vl8clda7t4 on August 3, 2012 at 10:24am

Well...in less than 6 months the Ohio Geological Survey will release their requested cuttings from the Eichelberger Well to the public for open inspection...which includes, but is not limited to, other engineers and geologist from other drillers. The cuttings become the property of every Ohio citizen. So, I'm sure there's more intelligent people from around the world who can figure out how to unlock the code to release the minerals from our Utica shale...Devon isn't the all mighty one. One swallow doesn't make a Summer folks!

BGJ

 

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