"They claim infrastructure, the same problem up here in the north. "
No, the problem up north is the wells aren't producing economically. Infrastructure buildout is fast, but not fast enough. These sorts of revisions are both common and important to the market.
if it was infastructure up north companies like BP would not be pulling out .....they would just set and wait on pipelines not put their holdings up for sale .........the north is a dead soldier ......not economicly productive to suit the big boys ..........more or less the northern utica is a bust
Hey RON since your so big a player ....why dont u go buy a bunch of BP acres and start drilling some of those big producing wells up north ?????????
It is likely no coincidence that the wells drilled further North in Ohio have been disappointing. The Utica is much thicker in Mahoning and Trumbull counties, and BP and Halcon had hoped this would offset the nonexistence of the Pt. Pleasant there. So far they have been disappointed, Halcon so much so that they have abandoned their Ohio operations entirely. Perhaps technology will be developed soon to maximize results in that area and Halcon will reappear. Their leasehold is entirely HBP and unlikely to change in status anytime in the near future. For now, they seem more interested in pursuing the TMS (Tuscaloosa Marine Shale).
Gulfport stock plummeted, how is BP's doing?
Been on the rise ever since they made the announcement.
I think that Gulfport is just being cautious and wanting to take it slow because they are trying to figure out the variability in production results and how best to maximize production. This is not a mining operation. Many of the wells are coming in with great economics. What is hard to explain, and why I imagine that they are slowing down, is why wells from the same pads can vary so much. A Utica Mystery Story related.
I also believe that it has to do with how the wells are drilled, fracked, and produced. So many variables that can impact production. This rock is NOT homogeneous. Geology is different for sure. And taking a "mining" approach will not yield consistent recovery and predictability.
Utica, please read the article I attached , "GulfPort Downgrades Forecast." This is what my post is about, you turn it into a bashing. Pumping up Trumbull county because I have dozens of PM's from Trumbull county good folks, who are upset over your continuous negative post about Trumbull.
"Just another Strawman argument created by you." if that is not referring to me as a strawman, I do not know what is.
But the real question by many who PM'd me is who are you? what are you? after all these years, with all your advise, isn't it time you use your real name and credentials here, honestly?
For instance I know who Mark McGrail is, from a few years back, many know him as a terminated Hilcorp Landman. I think his employment with Hilcorp was the shortest in history. One should back their advise here on GMS, with their real names and expertise, so we all know where they are coming from.
Please explain how you obtained those mineral rights in Columbiana County.
I bet you won't, just as you never told people about your lease negotiation with CHK. Why ? Because the truth doesn't fit the fairy tale you spin about yourself.
Instead you'll probably resort to personal attacks just as you did now with US