Good News Up North
The vindicator has a article that says entervest thinks they have the drilling techniques to successfully drill the northern oil window by adding more sand water and closer spacing. The believe they can drill "very successful wells". I'm happy for you northerners and are keeping my fingers crossed. They do advise caution as it is early in the game but change is on the horizon. They are moving forward with test wells. Congrats all
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Replies to This Discussion
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Permalink Reply by jason irvine on
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Correction. The company is enervest
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Permalink Reply by Joseph-Ohio on
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http://gomarcellusshale.com/forum/topics/utica-oil-window-news-from...
Thought to link the above to your conversation Jason.
Does the above linked post excerpt the article that prompted your post ?
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Permalink Reply by jason irvine on
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Yes
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Permalink Reply by Joseph-Ohio on
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Thank you Jason.
It is good news to read they seem to be making some progress.
http://www.vindy.com/news/2014/aug/19/potential-oil-window-is-best-...
Above is a link to the Vindy article that the other post excerpted from.
The Vindy article doesn't give the suggested technological advances enough credit if you ask me (judging by it's title which seems to me rather facetious).
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Permalink Reply by Joseph-Ohio on
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Hopefully this will lead to a resumption of leasing and development in Ashtabula County soon.
From what I read they are also looking for JV's (and from what I've read they have been for awhile). Maybe they'll get action along those lines ?
Maybe the north is gonna start cookin' with not necessarily gas but with oil soon ?
Actually hope they start cookin' with both !
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Permalink Reply by jason irvine on
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My property is down south in wv so it doesn't effect me except all the nay sayers. I am pulling for u guys and I wish the best
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Permalink Reply by Joseph-Ohio on
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Thanks Jason.
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Permalink Reply by Craig Stull on
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What is the cost for drilling a well like this ??
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Permalink Reply by Joseph-Ohio on
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Whatever it is they say they think their return will be / is worth their investment don't they ?
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Permalink Reply by Alan Bowers on
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Been seeing what looks to be a small convoy of 1-ton trucks (4x4 crew cabs with arc/stick welding outfits mounted on the bed) heading up SR11 in the morning and then heading back south down SR11 around 7-8pm in the evening this past week. These are the kind of trucks that guys who weld O & G pipelines together drive.
Looks like they are heading up into Ashtabula County Ohio somewhere.
Anybody see some pipeline activity going on up there?
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Permalink Reply by Greg B on -
I believe that development in non-core areas will be slow and highly-dependent on the future price of gas, and to some degree, technology advancements. New technologies can't do it alone though, you still need good rock and a risk / reward scenario that operators spending 5-7 million/well can justify.
I don't want to get anyones hopes up, some have a "lottery fever like" mentality I believe. Sure, there is oil and gas there, but it takes a lot to justify the enormous capital spending and then it comes down to economics. If you have multiple locations and opportunities you go after the ones with the most likely return and go with what you know. Some will take a risk on something unproven (acreage or technology), BP for example (lost by the way) but the risk is high.
And if you believe that the oil and gas companies are ripping you off and are just playing games up North then I suggest you get some of your friends together, hire a few geologists and engineers to develop a plan, put 5-7 million together to drill a single well and go for it!
Greg
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Permalink Reply by Joseph-Ohio on
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I think much of the stagnation in the north is due to maneuvering by political and gas and oil power brokers for the most part.
The northern Utica (from references I've read here on these pages) is supposed to be rich condensate laden natural gas and oil.
Since I've also read that government has finally gotten behind more exports I am cautiously / guardedly optimistic about development picking up speed.
The Velocys-Pinto Plant in Ashtabula (from what I've read) is supposed to come on line next year, and that's encouraging.
The rich condensate zone hopefully will contribute to the diluent headed to Canada to dilute the bitumen harvested from the Canadian Tar Sands.
Hopefully we'll see renewed interest in leasing / acquisitions (in the northern tier) on the part of E & PS and of course actual development - all sooner rather than later.
Cautiouly / guardedly optimistic and standing by.
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