I just want to be clear that this is a map I made using the ITG information as a base map. I would be happy to discuss my findings.
I think that the recent price fluctuation from over $100.00 per barrel to today's $45.83 per barrel could have caused a few driller's to think differently about it myself.
These price dynamics in play today I think aren't normal.
Wouldn't cost much to extract / harvest from wells that are already developed - all they have to do is open the valves and take it away.
Paying royalty would be significantly less today since the price has fallen so much as well.
Some E & Ps may be looking at draw down and store as making a lot of sense - THESE DAYS.
Maybe it all plays hand in hand / is part of a Grand Plan for all I know.
I think you'll agree that in general the E & Ps aren't above blowin' a lot of smoke up everyone's pant leg.
Just sayin' / supposin'.
None of those E&Ps producing in Ohio can afford to store oil if is can be or has been produced from existing wells. They need cash now. Take a look at Magnum Hunter (drilling in Ohio as Triad Hunter)--stock trading below $1 and threatened by the NYSE to be delisted for the low stock price. If they've drilled any wells in the Utica, I can guarantee that they are being produced. The other companies are the same. If they can produce a well they will and they are not going to store the oil.
Personally, I'm not sure of anything and for that reason I choose to rule nothing out.
You read very sure to me - a man of conviction.
That is the difference between you and I.
I'm not going to change no matter what anyone says or writes.
You're not going to change no matter what anyone says or writes.
That is how we are alike.
Good luck friend - I think we all need it.
did you use ISIP to calculate the pressure gradient or something else?
My question is how does this effect us in 2017/2018? Are there more recent maps? My concern is there are more wells now, and more info. Right? My property is in S.W. Monroe Co. Ohio Looks like .7 gradient on the line of dry gas on these maps. Do you still think that is true? Is that what oil and gas co. are looking for?