It is ridiculous to me that the ODNR has not yet made any formal statement about 2012 well results, and instead allowed Bloomberg (liberal) media beat them to the punch about what a "disappointment" the Utica play is. This story has been picked up by national, and regional media all week, with not one response.
I can see the writing on the wall that the oil window is disappointing, but the way the ODNR has handled (or not) the dissemination and analysis of 2012 well results is inexcusable. They have the information necessary to highlight areas with potential, and sadly disappoint others. But they are the keepers of the information and should be the disseminators of the news.
Can't wait to see what the new map looks like.
That's my rant for the day.
I am interested in seeing 2012 production report as well. The only problem is all those wells reported will be choked back from lack of infrastructure and processing. I believe the 2013 report next year will give more insight into how this play is going to progress.
To that list you can add Harrison, Belmont, Guernsey, Noble & Monroe Counties awaiting MarkWest's and BlueRacer midstream in addition to the aforementioned Momentum midstream.
''posting and providing is hard chore''......sure it is, copy and paste. The state has got to go to quarterly reports. I am not an attorney nor do I want to quote law, but the proof is in the puddin! This is a direct effect on the mineral owners pocket book. The data is extremely important, the state has the legal responsibility to its tax payers to provide public infomation. They can not alter the data supplied, they can only report what is given to them. .Currently they are allowing operators to violate the statute by not reporting ina timely fashion. Exception to the rule? Why the delay?
Are they waiting for all to report? Are they afaid of what the report will lead to? Are they trying to get their own ducks in a row, so certain individuals benefit? Who knows, but by not performing in due process they sure allow themselves to be left open for criticism.
I just read an article in which "a provision in the State Budget which was passed by the Ohio House on Thursday, calls for reporting every three months". That will probably pass. I would guess that ODNR is setting up a system that will allow them to comply with the new law.
Are they "setting up a system"? ,or sitting on their ass? The feds need to get involved. Once a month needs to be forced on them.not once a year,or whenever they get around to it!
Shouldn't we all give them the benefit of the doubt this time ?
Due to the recent reporting period changes ?
If they have to now report every 3 months / each quarter instead of once a year - I would think that it probably translates to a lot of different ways of doing things internal to their department / bureau - new software - etc.
The quarterly report (at least quarterly as monthly would be even better) should help landowners and O & G Companies make better / more informed decisions sooner. If it doesn't we would certainly wonder why.
Let's hope the changes aren't used as an excuse to delay reporting for toomuch longer period of time.
My understanding is the three month reporting is in the House verison of the budget bill, Ohio Senate has not approved that yet. Kasich has not signed it into law. The law in effect now is once per year. Someone please correct me if this is inaccurate.
Yes, you are correct. If Kasich signs the new law. When will it go into effect is the question.
Usually in Ohio they take effect at the beginning of the new fiscal year which in Ohio is July 1st.
The status of the Ohio budget (two-yr budget): It has passed the House of Representatives significantly changed from Gov. Kasich's original proposal. Important to us, Gov Kasich's large severance tax increase was eliminated.
This is not the end of the road. The budget bill now goes to the Ohio Senate where it will likely get re-sliced and re-diced. All options are back on the table. Once the Senate passes their version, it will go to a joint House-Senate Committee to hash out a final bill acceptable to both legislative bodies.
It will then go to the Governor for signature. The Gov. has line-item veto authority. He cannot change the Bill but can reject specific items or reject the whole thing. IMHO #1....Since Gov. Kasich is a Republican and both the House and Senate are overwhelmingly Republican, the entire budget will not be rejected. Line item vetoes are possible.
IMHO #2....the 3-month well reporting segment will survive. IMHO #3.....The severance tax will be increased, but much more modestly than Gov. Kasich's initial proposal.
The new budget is scheduled to go into effect 7/1/2013 for two years.
Dixon's comments confirm what we've been speculating on this string of dialog. Thanks, as usual, for your diligence in digging it out!