This is getting a bit annoying.
So, I'm reading reports from the state, the news, etc. All very positive. Reading assessments here--mostly bummed and/or in denial. I'm thinking the news is overall good. The numbers that were reported today were clearly stated as wells that are CHOKED BACK thanks to lack of infrastructure, with the caveat that numbers are expected to increase dramatically once production is in full speed. The big companies are still moving in and investing $billions. What is the bad story here? Help me understand...I'm missing it. Remember these folks hold their info VERY close, and are probably very strategic with their message. We are nobody's fools here...right???
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Replies to This Discussion
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Permalink Reply by 0l1a6laz7smpf on
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share some more JR....are you waiting on production, pipelines, royalties? what? What numbers here? what discussion or online link? pls tell more and what state are you speaking of?
this is a discussion from 2010 (notice I said 2010) regarding Haynesville in the choking back of oil production and why...
http://www.gohaynesvilleshale.com/forum/topics/choking-back-gas-wel...
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Permalink Reply by JR on
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Ohio DNR posted the first years' production numbers today and a lot of landowners are bummed out about the numbers. Many saying they were quite low. But our local news outlets, and even MSNBC's stories seemed positive and significant. We are in Tuscarawas Co Ohio and it's just getting frustrating not knowing what the correct answers are. I'm not annoyed with anything or anyone in particular, just the roller coaster of positive/negative this whole thing brings. I never thought we'd find ourselves in the O&G business, and completely out of the drivers seat to top it off. As far as links, there are links to the ODNR report in conversations from yesterday. VG, thanks for posting the link. I'll read it next.
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Permalink Reply by Dan on
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JR,
Most reported news today is negative. That's the nature of that business. Remember most of one of the political parties wants all bad news thru november also. Even though we keep hearing O&G companies are pulling their resources out of PA, every time I drive I70 & I79 thru Washington and Greene Counties (yesterday) I count more white pick-ups, more water tankers, more pipeline ROWs strawed over. The same thru WV. More traffic here in OH also. Auto dealers are breaking records. A friend that's a real estate broker tells me they are back to 2004 #'s, and it's only the start of April. Restuarants, gas stations and motels are breaking records. On our short dirt road we have 4 new homes. Across the valley out back I see 2 new homes being built. Unemployment is still going down in the region. Our children are now able to stay and work in the future. The naysayers will always find the negatives, not that they don't exist, but which ever way you're lookin is where you're headed. As you say "all very positive"
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Permalink Reply by Kathleen on
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The Columbiana County Cadillac dealership has a new commercial saying they are now the top selling Cadillac dealership in all of Ohio. This would not have happened IMO without the gas and oil money that is now hitting this county.
I was one that was a little disappointed about yesterday's numbers but than I thought more about it and realized we just learned these numbers but the oil company knew them along and to me it seems they are still full steam ahead.
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Permalink Reply by Erik V. on
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I'd have to agree with IR and Jeff D on this one. If you average all the reported well production numbers you get around 65 barrels of oil and between 3000 and 4000 mcf's a day for each well. Compare that to a Clinton or Berea well and they pale in comparison. But, compare these same averages to Chesapeakes initial production numbers they released months ago and everyone goes into shock. Initial production numbers are almost always inflated and rarely give a true picture of a well's potential. It seems that many landowners were calculating themselves into being instant millionaires using those intitial numbers and politicians were ready to pounce on what was left. These numbers are very good and will provide good incomes to landowners and add a bounce to the ecomomic woes of our state for years to come.
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Permalink Reply by TM on
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Good points Eric. I do believe people thought they were going to be instantly rich and that doesn't look it is going to happen. Dont get me wrong there is alot of money to be made just not what people thought. If we knew the NGL's number percentages we could get a better estimate of what a landowner could make in royalties. The old Clinton wells from years past didn't even produce that much compared to what these new wells are producing. There is just too much exploration left and wells to be drilled to get a definitive answer. There could be other counties that could be goldmines still you never know until more wells are drilled and put into production.
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Permalink Reply by TM on
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Very true Drill. With multiple wells on a pad the money potential could be huge. I just wonder though if they are just going to drill single wells and hold most land by production and not drill multiple wells for years to come. If the single well is not a top producer are the oil companies going to continue to sink money into a pad to drill multiple wells?
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Permalink Reply by Bernie Horabik on
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Are the potential wells in the blue shaded dry gas areas of Jefferson County, Ohio going
to be drilled? Or, will the real activity move further West towards Columbus where the new
map shows oil potential? I have property expiring in Jefferson County and I'm concerned the
map, whether it is accurate or not, is going to screw me up on a new lease bonus!
Let me know your thoughts,
Thanks,
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I think a very important point that i don't see much in the discussions is that many gasoline stations are gearing to provide natural gas products at the pump as well as what they provide now. many of the local and state governmental and private corporations are taking a very good look and even purchasing natural gas operated vehicles....and these things take time to establish. It is all very new.... the layout of monies right now is going to be perfecting the transportation of the natural gas to market...so be ready for pipeline offers..spend your time there in those studies if you see that you may be an 'enroute candidate' from a nearby well....take a look at the recent discussion about the major pipelines and the names of those pipelines...find out where you are and get involved with who you can in your county with neighbors and/or community groups.
http://gomarcellusshale.com/forum/topics/pipelines-which-one-does-t...
The monies need spend on more infrastructure and I can agree that the oil companies need to plan appropriately for that expense...,but not let it be at your loss this time as it was with some of the leases (and it was and still is for some).
i find the way JR stated it in an above posting...on target as it is..
I never thought we'd find ourselves in the O&G business, and completely out of the drivers seat to top it off.
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Permalink Reply by JR on
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I completely agree with you VG. While the environmentalists have gotten a lot of attention from their noise, these plays in OH, NY and PA are drumming up a lot of attention from all kinds of powers that be. It's going to take time. Following this development (since we found out about it last May) has become almost a part time job, but it's been a pretty exciting ride so far, and there's so much more to come.
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