Ohio Releases 3rd Quarter 2013 production statistics!

Happy Reading for 2014!!   Here is the third quarter production report:

followed by an article on the release.

http://oilandgas.ohiodnr.gov/production

The typical Utica shale well in eastern Ohio produced 137,168 thousand cubic feet of natural gas and 5,439 barrels of liquids from July through September, according to a new report released on Tuesday by the Ohio Department of Natural Resources.

That is enough natural gas to generate about $550,000 and enough oil to generate an additional $490,000 from each of the the state’s first 245 Utica shale wells or nearly $1 billion a year  from all the wells.

"Those are very good numbers," said Jeff Daniels, a geophysicist at Ohio State University, co-director of the university’s Sub-Surface Energy Resources Center and an expert on Utica shale drilling. "They’re high but they don’t shock me."

http://www.ohio.com/blogs/drilling/ohio-utica-shale-1.291290/ohio-r...

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Permalink Reply by Greg B on January 1, 2014 at 4:03pm

All, I mapped the Q3 production report wells wells along with their corr...  http://www.uticashaleblog.com/p/production.html

When I merged the report (based on API#) with the Dec 28 2013 activity report (where they post lat longs there were 7 wells that came back not matching, not sure what is up there. If you click on the symbols you can see data. And if you click underneath to get the LARGE version you can filter wells. For example, select "Days" under the blue filter tab then enter 60-122  to get wells with more data, etc.You can also stack filters, click on the blue filter tab again and add "OIL" then enter 20000 - 41617 to see the larger oil producers (only 8 wells meet this criteria by the way), etc, etc. Also, since many of the wells are on pads and so close to each other, either zoom in or select the "Rows" tab to get a list.

Enjoy: http://www.uticashaleblog.com/p/production.html

Let me know if you find this stuff useful, I do it more as a hobby.

Permalink Reply by john goodday on January 1, 2014 at 5:22pm

Buell Well (API #34067210570100

24,000 BBLS X $100 X .80 = $2MM

3.5BCF X $3.50 X .80 = $9.8MM

Total Product = $11.8MM

Well Cost = $10MM

Do you see this as a huge profit  from one of the best wells in the play over a 3 year period?

Permalink Reply by Shower Bath on January 1, 2014 at 6:25pm

Virtually all of the revenue for the next 10-20 years will be profit, which is not bad for a well in the dry gas zone.

Randy

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on January 1, 2014 at 11:46pm

That $10MM cost was because it was exploratory and the first well that CHK drilled.  Costs are down about 40% since then and that will factor in to the profit as they continue to lower drilling costs and get more infrastructure.

Permalink Reply by James Vanderink on January 2, 2014 at 6:02am
Marcus, what are your thoughts on the Utica Oil numbers? The Utica isn't looking to be the next EagleFord or Bakkan.
015334grltd9mPermalink Reply by 015334grltd9m on January 2, 2014 at 9:14am

James,  You need to read up on the history of the Bakken and the EagleFord, it took years to INCREASE the volume and the Utica has the volume.  Don't worry it will increase exponentially.

Permalink Reply by James Vanderink on January 2, 2014 at 12:23pm
I hope you are correct Ron. The Utica Oil Window west of I77 looks dead except EQT.
Permalink Reply by TM on January 2, 2014 at 2:40pm

Me too James. These oil wells West of I-77 are not looking good at all right now. Not enough gas and pressure in these wells to keep the oil flowing. Seems like they are having really big decline curves as well. Hopefully new techniques and completions can cure this problem.

Permalink Reply by Jimmy Wilson on January 2, 2014 at 7:47am

Thank you John....

Factor in first and second quarter on guess number.... add in today's Henry Hub of 4.46/mcf for gas..... picture gets even better.....NGL's broken down in MCF numbers, much value added there as well ?

Food for thought.... I come up with 16.76 million for the .8

Permalink Reply by Mark McGrail on January 1, 2014 at 7:35pm

Greg,

I find it interesting; thanks for your efforts.

Permalink Reply by Philip Brutz on January 1, 2014 at 8:17pm

Greg, good blog.  Thank you for sharing it.

Permalink Reply by Joseph-Ohio on January 2, 2014 at 5:36am
Checked out the ODNR 2013 3rd qtr. report.
Could not find any production reported for the Halcon Kibler 1-2h Trumbull County (Lordstown) well.
The ODNR Well Locator says it's in production.
That was supposed to be quite a gusher as described back in August 2013 (when it 'IPed').
What's up with that ? ?
The only Trumbull Co. Well listed is the Lennington which is a comparatively short lateral BP Well.

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