***News Alert: 2H2014 Production Data is Out for PA***

The highly anticipated 2H2014 production reports are out.

1.  For the 3 Watkins Utica Wells, in not a surprise move by Shell, they reported only 5, 7, and 9 days of production for these wells.  Which does not give us much data to put these wells in context.  

WATKINS 820 25H 820-25H 9/16/2013 61,456.69 7
WATKINS 820 23H 820-23H 2/5/2014 82,002.90 9
WATKINS 820 21H 820-21H 2/5/2014 44,038.84 5

2.  For the Synnestvedt Utica Well, we do have a positive surprise:  565,874 mcf in only 58 days of production.  To put this in context, the Gee well in 1H2014 reported 593,544 mcf for 124 days of production, and Shell was very pleased with that report.  So, more gas in less time for a well on the NYS border, well north of the Point Pleasant Line.  

SYNNESTVEDT 878 22H 878 22H 12/10/2013 565,874.96 58

3.  Neal well production down 50%: 1H2014 was 1,800,000 mcf compared to 2H2014 of 930,678 mcf.

Brings up the question, is the Neal on a choke?  Please let us know if you have knowledge either way, if in fact there is No choke, or if there Is a choke?  

NEAL D 815 1V 815-1V 5/13/2013 930,678.22 130

4.  Gee Utica production 347,784 mcf, down 41% from 1H2014.  1H2014 was 124 days, 2H14 was 139 days for the bean counters out there.

GEE C 832 2V 832 2V 6/20/2012 347,784.95 139

This is just a quick snapshot on the data.  If you have clarifying FACTS or information on chokes, please share with the group to put these reports in proper context.

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Replies to This Discussion

Permalink Reply by Tim on February 18, 2015 at 8:08am
Reported production data is not factual?

Do you read your own posts? Full of 'your opinion' with little factual data.

If and when I want your 'opinion' I will ask for it, otherwise bring facts to the discussion, or don't post.
Permalink Reply by David Perotto on February 18, 2015 at 2:22pm

I must chime in. All three wells are profitable (Neal Gee & Synnestvedt). The least productive of the three (Gee) will still produce 7 bcf +/- 1 bcf. At $3/mcf that is profitable. These three wells are separated far enough apart to speculate the entire area in between will be profitable as well. In addition, the engineers will optimize this region further and squeeze even greater production from the area. 

I am not sure how someone can refute these facts. More importantly, how far out from these three wells will the sweet spot extend? That is the debatable question here.

Permalink Reply by Jack Young on February 18, 2015 at 7:14am
Negotiations between landowners and the pipeline companies have almost no impact on the process of expanding take-away capacity. (It doesn't all revolve around us!) It's based on how they project the future, and when others feel our area is proven territory more capacity will materialize.
Permalink Reply by Tim on February 18, 2015 at 7:58am
The question revolves around the pipeline issue for the entire northeast, not just nw tioga. Williams CEO stated that it is getting harder and harder to put pipelines in.

I was asking you a general question of what you think, being both a large surface, and sub-surface owner, can help alleviate this regional issue.

The entire region needs more takeaway capacity. New England currently gets the majority of its gas from Canada.
Permalink Reply by Jack Young on February 18, 2015 at 8:22am
Getting full access to the lucrative NE market may not be possible. New York and Massachusetts have strong anti-gas movements who are having some success blocking any new pipelines.

Selling additional gas towards the Gulf Coast is a more likely outcome, but that won't bring a good price. Once the industry learns how far it can cut costs we'll know whether selling at a big discount to NYMEX will work long-term.
Permalink Reply by Ralph cramdon on February 18, 2015 at 11:39am

Looking for information on leases held by Penn Virginia  { PVA } in Tioga and Potter Counties . Thanks in advance . 

Permalink Reply by Jack Young on February 18, 2015 at 12:22pm
All leases in Potter County sold to JKLM except the ones with wells or major title issues.

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