Utica's production decline rate

Has anyone heard anything about the rate of production declining abnormally fast?  It was brought to my attention that there is some concern that production might fall off in Utica wells faster than in other shales.  Does anyone know if this is the case?

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Permalink Reply by Joseph-Ohio on October 25, 2012 at 9:44am

No, let me assure you that I'm no Ron Paul accolade.

But as far as our natural resources are concerned and considering all of our recent past and still present domestic energy woes - I believe our natural resources shouldn't be sold to any foreign state.

Permalink Reply by Joseph-Ohio on October 25, 2012 at 10:23am

Domestic conversion instead of exporting will instead raise prices and conserve our natural resources for domestic use.

Permalink Reply by Joseph-Ohio on October 25, 2012 at 10:56am

Hoping you're incorrect on that 'no substantial conversion within the next 20 years' - this is something we need in my opinion.

Big Oil and the US government really need to practice more discretion on where they throw their money around.  Throw it our way - not overseas.

My opinions.

Permalink Reply by Jim Litwinowicz on October 25, 2012 at 4:37pm

Matthew; I beg to differ.  There is a lot of conversion going on as we speak. Fleets are converting, fueling stations are being installed. Joint ventures between retailers like Pilot and suppliers are accelerating the installation of fueling stations. Companies are installing their own systems. Smaller retailers are installing fueling stations like the one announced for Brockway on I80 in Pa.

Big oil has bought into Nat Gas big time. Shell, Chevron, BP, Exxon, are all into gas. Consol, which was almost all coal, is now a big gas player. Big oil has seen that the Nat Gas Train is unstoppable ad they hopped aboard for the ride. They will be part of the conversion process to help sell all the nat gas they produce.

Never underestimate the American capitalists.  They have consistently outpaced predictions when it comes to adapting to new technologies that will make them more efficient and profitable.

Permalink Reply by Joseph-Ohio on October 25, 2012 at 4:41pm

Matthew,

Should have added natural resources to their discretionary list - not just money - our future.

Permalink Reply by Dan on October 25, 2012 at 10:33am

Joseph,

Not wanting to be the bearer of bad news for you but, precious and industrial metals and uranium are taken from federal lands by mining companies for a whopping $5 and less/ acre permit fee.  No royalties ever paid ever.  These mining companies can be owned by foriegn countries.  Which ever political news rag you read blames the other side but both political parties keep this going.  Most recently as soon as Bush Jr. got in office he wiped out new rules put in place right before his arrival.  Since, Harry Reid has beaten down legislation to put a stop.  Obama was successfull geting a moretorium on new permits in the Grand Caynon Basin but this is temporary and will must likley be reversed as soon as he leaves office.  When one of these mining companies bankrupts, guess who pays for clean-up?  Not that they should go bankrupt being that they get tax breaks and are many times more profitable than the energy sector, but when you made a mess it's cheaper to walk.

http://www.seattlepi.com/news/article/The-General-Mining-Act-of-187...

http://www.blm.gov/pgdata/etc/medialib/blm/wo/MINERALS__REALTY__AND...

Even more depressing since you mention wars.  The US sells arms and business is good.  http://rense.com/general14/bushsformer.htm  I don't know how much of this is fact, but the Nazi stuff is interesting.

 

Permalink Reply by Joseph-Ohio on October 25, 2012 at 10:56am

More bad news.

Just what I needed.

Thanks.

Permalink Reply by Dan on October 25, 2012 at 11:53am

Joseph,

There are much bigger fish to fry.

Food.       Traded on the commodities market.  Brokers bought, bought, and bought rice and wheat without any sells creating a paper shortage, as it sat getting old, creating a false shortage that sky-rocketed the price.  Many millions though out world starved suddenly.  Brokers made billions and were fined millions.  Any nation, company or person with vast capital could manipulate food prices or any traded commodity.  In todays world we don't know what is actually inventoried even though we have a great IPad app. for it.  If China wanted to sink us they don't need a weapon.

Shelter.          We have all seen the housing market, leading back to brokered trading bundling morgages.

Energy.           Very important but at much less risk of manipulation today in the US because of new found abundance not only domestically but world wide.  Gasoline prices are effected heavily by futures trading and supply and demand.

If we don't have the food nothing else really matters.  Of course water is important also.  We are lucky to have lots of water in much of the US.

Permalink Reply by lynn on October 26, 2012 at 6:45pm

Side note;  I believe Harry Reid has successfully stopped any taxes on diamonds mined in Nevada.  Even though it comes from the earth the same as gas and oil, yet drillers and land owners will have to pay a 'severance' tax on what comes from their ground.

Permalink Reply by Joseph-Ohio on October 25, 2012 at 10:23am

That's all ok with me.

Permalink Reply by Brian Day on October 25, 2012 at 5:14pm

Why is China buying coal from the U.S. then?

Permalink Reply by Joseph-Ohio on October 26, 2012 at 2:24pm

Coal can be gasified however but economics haven't worked out yet and it's been put to the test quite a few times historically.

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