It's too bad the ODNR can't find a methodology for tracking NGLs like WV has done.
Ohioans will know they have been shorted when their royalty statement shows a negative value for NGLs removed from their wells.
It's easy math even without the Revenue Dept Spreadsheet Chesapeake sent to me for Buck Well 1H.
I knew after the first royalty statement that had $8,000 worth of NGLs taken from the well while $24,000 was charged for processing a huge volume that didn't come from our well.
A take home of $0 for NGLs and a loss of $16,000 from Buck Well 1H Oil and Natural Gas produced.
You know, the state is OK with that. I notified the gov & atty gnl.
They have something going with Chesapeake that makes the landowner theft a non-issue, and it's not PAC Fund money.
Rice energy wells leading the pack for natural gas, very nice. Naturally this can mean anything....the biggest well in the state could be shut in and produced nothing that quarter :p
So what is considered a profitable well? What is the cut off, for gas, for oil?