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.
OR; drilling/leasing is fixing to ramp up, big oil doesn't want to have to pay $10,000. bonuses,and 25% royalties after the public finds out what we are sitting on?
While it's disappointing that ODNR has seemingly missed their deadlines (surprise, surprise), I believe the report will be disappointing for the valid reason that necessary midstream infrastructure to process the wet gas (where most of the 2012 wells were drilled) was not available in 2012. Therefore, many wells were plugged or severely choked back.
In my opinion, when we finally see the 2012 well results, they will be of minimum value.
True. The gathering and processing systems for this play will be a huge undertaking and probably have a longer lasting economic effect than the drilling.
Unfortunately the same logic will at least partially apply to 2013. The midstream infrastructure investment including processing facilities and pipelines is massive ($$B). No rational company would pony up these kind of $$$ without strong confidence they'll have lots of NGL's to process. That's the good news!
In any private sector job, the failure of the staff to timely complete an important public report like this would be the basis for diciplinary action on the staff, and the boss would be well advised that his boss and the HR guy are now looking at resumes for his replacement. In the public sector, this poor execution is tolerated. The data was expected, both in volume and type, and the responsible department should have been well prepared in advance to compile, process and publish it, realizing the widespread (global) interest in the data. The defense that "there is a lot of data to process....give the poor guys a break"...is pure kid stuff. "duh, what did you think?" It's a living Dilbert cartoon...........
Fixed it for you
In the public sector, this poor execution is tolerated expected.
You know that they're working with a brand new system and interface, right? This is uncharted territory and frankly I have no idea why people on here are so whiny. What are you going to do with the information once it's published? Did you and your friends make bets on the over/under for individual well production? It'll come out when it comes out. I promise that you won't learn anything new or exciting based on this new data. Hell, most of the numbers have been whispered anyway. It's not like this is going to reveal to everyone some big secret.
Ohio's regulations on this issue of reporting, good or bad, sets some of the parameters by which the play is played. 30 days should be a reasonalble time to publish. If its such a vast work load change the schedule to report more often. If one person did it by hand how long could it take?