Value of Ohio Utica NOT Gone

http://www.crainscleveland.com/article/20130419/ENERGY/130419772/12...

This is the other side of the story, differing greatly from the Bloomberg report.  It is also posted in the discussion Ohio 5000 Billion Gone;  Poster named "Jim" asked me to start it as a discussion. 

Basically it says the Midstream players know the answer and they are building infrastucture meaning product is there.  Also it was never about oil, but WET GAS.

The quote at the end says it all, "if we were raising a child, we are in the first trimester of the pregnancy."

 

 

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Permalink Reply by searcherone on April 20, 2013 at 7:19am

Just my opinion, that people in general give a little too much credit to "an authority" be it person or media and the one perceived as "shouting" the loudest knows the most" which ain't always the way it is.

One has to listen and read alot to get the balance and perhaps know the bias of their sources.

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on April 20, 2013 at 7:57am

The ODNR did everyone a great disservice by claiming huge recoverable oil numbers without nearly enough evidence to support their claim.  That fact alone was missed by the Bloomberg piece and they instead focused on two companies--one of which was exploring for oil WAY outside any reasonable projection of productivity--who are trying to de-lever their positions.  CHK is selling because they need cash and they've found good production in their other acreage.  Tracker Lario, LLC is going to be drilling in the oil window and they're no mega-conglomerate.  They're a small, efficient company that can likely find decent production at reasonable costs within that window of maturity.  Funny how Bloomberg forgot about them.  And Mountaineer Keystone.  Both playing in the oil window, both spending big bucks to prove it up.

Permalink Reply by Craig Stull on April 20, 2013 at 11:44am

Marcus, I have heard mountaineer keystone last week has stopped all drilling over in Portage. Dont know what the reason is, Do you? 

Permalink Reply by bruce c on April 21, 2013 at 4:40am

Marcus

When is Tacker Lario going to drill?? They have acquired my Lease from CHK in Lordstown, I heard they have about 25K acres in Trumbull & Portage counties  , I can not seem to find out much about them, any info would be appreciated. 

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on April 21, 2013 at 4:40pm

Early summer is when I understand them to be drilling an initial core.  That's unfortunately the extent of my knowledge at this moment.

Permalink Reply by Joseph-Ohio on April 20, 2013 at 9:17am
I believe it will prove plenty of oil.
Just sometime after the ' Easiest Oil ' phase.
Permalink Reply by Dirty Money on April 20, 2013 at 10:43am

 from what i c it is here just need some pipe in the ground and a plant or two too seperate it ohio the heart of it all

Permalink Reply by Craig Stull on April 20, 2013 at 11:39am

Joseph, I have hearing this from people in the industry going on two years now. They know the oil is there but they dont know how and if they will be able to recover it. I dont mean to sound all doom and gloom but there is allways that chance.   

Permalink Reply by Dirty Money on April 20, 2013 at 11:53am

take a road trip on state route 800 at harrison and tusc county line chevron site  tanks there  are not for brine water good guess they are for oil 

Permalink Reply by Jim on April 20, 2013 at 12:14pm

Darrell,

I did take that trip about 6 weeks ago and I was shocked at the size of those tanks.  I did not see any brime or retention ponds.  That well looks like it sits in a flood plane, so I'm guessing that maybe those big tanks were for fracking water, before and after the frack and then maybe later for oil.  Do you know exactly what is going on?

Permalink Reply by HarrisonCoBuckeye on April 21, 2013 at 12:54pm

Those big tanks are for water to assist in the drilling and fracking.  They pumped water out of the Stillwater Creek to Frack the two legs.  They recently put in 8 tanks for the oil.

Permalink Reply by Dirty Money on April 20, 2013 at 12:27pm

jim the black gold is here its on a need to know basis i have  been in this game for 2 plus years educating myself at every angle the big dogs got the bone and want to keep it as long as possible from pups (aka) us

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