Has anyone given any thought to having an independent company frack their property? I know there are professionals on these discussion sites who can demonstrate the whys and why nots.
I know with a lot of landowners not having their leases renewed maybe they can form their own coalitions to drill and sell their minerals w/o the O/G companies.
This should be viewed as a fun discussion.
For those of us who kept our shallow rights, it would be cheaper to have a traditional well drilled. There is oil at less than 1000 feet in this area. Someone told me a long while back about the local Chesapeake well that hit oil at 900 feet, sealed it off and continued to 8000 feet.
The story that you need 40 acres in Ohio to drill a well isn't true. You can drill to 1000 feet on 3 acres. As the depth goes up the number of acres increases. This is spelled out in the Ohio Revised Code.
I think it would be fun to start our own Country, the united states of appalachia. We could have a real democracy for and by the people and laws to protect everyone in our country from theft even if they are just landowners. With Liberty and Justice For all, but really mean it.
My friend and I wrote a book about states forming a new country. See it on Amazon, The Christian States of America.
Why nots: Money. End of discussion.
If you've got millions of dollars to dump into it, have a field day.
Yes, millions no doubt. Roughly there have been numbers thrown around as to how many millions.
I have heard $10 million initially but then I heard it was around $6million.
The average land owner does not have that type of scratch to invest in my opinion. Nevertheless, there are investors who may want a piece of the action. Maybe for a percentage of the royalty or a percent on return.They may be willing to finance the well.
The reason I started this discussion was to hear from any "experts" who actually know about what it requires to frack a well. As the technology becomes more available to drillers there might be opportunity for the individual to profit on their property. Maybe it's a "pipe dream" but there may come a day when owning your own well would be a reality.
Thinkin' u might be on 2 sumthin' there Dan.
Borrow about 100 mil, pay yourself about half of it in salary, hire a legal outfit, go bust and retire !
Life would be grand - no ? ?
How would you get your product to market without pipelines?
That's a really good answer. Another option is gas liquefaction, following which you take the LNG out by tanker truck.
there would be a pipeline somewhere you could hookup too just another expense in drilling a well but if the common landowner could afford to spent 10 million dollars to drill a well and had the technical know how to drill a good well don't you think someone within the 3 state area would have done it by now..... yes there have been landowner who have drill shallow vertical wells but dealing with deep horizontal wells is a different ball game .....when I was about 7 ears old my grandfather drilled a shallow well that produced enough gas to run his farm on. I worked for a man that drilled 5 Clinton wells on his own property but each well cost less then 150,000 to drill and complete....he only borrowed money to drill the first one then drilled the other 4 off revenues from the completed wells
Dave what makes you think there would not be a pipeline near a well that you could hookup too???? if your in the Marcellus or the Utica there is pipelines being layed everywhere