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.
How many wells are in Ohio. They have to report production on ALL the wells in Ohio, not just the new Utica wells.
Don't know how many. It's data entry not rocket science. Maybe I'm missing something. Maybe incompetance or laziness across the land makes everything take 100 times longer today. Maybe typing the insurance codes at the hospital billing depts. is why healthcare costs are outragous?
All they need to put out is a simple Excel spreadsheet, one row for each well.
1 day, 2 tops.
That's what I was thinking. This task of reporting would be child's play compared to the energy companies calculating royalties on a unit with a bunch of small parcel owners, all with different leases. Some with market enhansment, some with deductions at different percentagages and some paying taxes and some not.
Should take one person about 90 days then?
I have no idea how fast or slow data entry is. So assuming you're correct that would be 4 1/2 months for one person to do it. They'll have it done after ~one month. So are there 4-5 people doing it?
Not specifically bashing ODNR, just govt agencies in general. History and experience tells me so.
Marcus, I appreciate your perspective. After long experience with both the public and private sectors, I see absolutely no difference in bureaucratic behaviors or economic efficiency between the two. It's easy to bash on government, as they do all the jobs no one can make any real money on. And when there is a job farmed out to the private sector so "business principles" can be applied, the job is invariably done at a higher price, with worse outcomes, and a greater cost to customers. Let's just agree that there are good private sector companies and good public sector services, all dependent on the skill of the people and leadership involved. Assigning virtue or evil to one or the other is to not recognize the basic human condition, for better or worse. And we'll never get good government services by bashing the people in it over and over...how would you ever get superior public servants when they are always referred to as losers? The recent decades have been very damaging to the spirit of public service from an unrelenting attack on government, at the same time the perniciousness of private sector abuses from Enron to Wall Street derivatives are chalked up to "the price we pay for capitalism." I have a healthy respect for both public and private sectors; we desperately need them both working well to prosper, but I'm afraid the prevailing wisdom on where the virtue lies has swung WAY to one side versus the other. We're all people, after all. Am I disappointed that reports we expected to have from ODNR haven't materialized? Sure. But I'm under no illusions that anything is going to really change with the release. Besides, my irritation is much more directed at the private sector in this bit of theatrics: they're the ones who have lobbied so heavily to prevent changes to antiquated laws requiring only one reporting period a year. Had that been changed, we'd be well on our way to regular reports that would likely be released more quickly after a necessary period of adjustment (which we are obviously going through right now). And let's face it, the magnifying glass that Ohio's Utica position is under right now only amplifies the pressure the bureaucrats are under to get it right. Before now, no one really cared. That changes everything.
I smell a big rat, wonder how they will back peddle on the 5.5 billion barrels of OIL....
Oil window basically worthless ? Well, that's sort of harsh, not worthless, but also not producible...?
Who is going to pay all of these taxes to lower everyone else's state income tax rates ?
What will Robin Hood Kasich do now ?
Tune in tomorrow, same Bat Time, same Bat Channel.....
PS. You EVIL rich eastern Ohio farmers, I think Target sells those Bullseye's, you can have your wife or Boyfriend (politically correct) sew a few of those on the back of your Ralph Lauren (cut off sleeveless) button down farming shirts, I don't know about you guys but my Dickies days are STRAIGHT UP over, I'm clearly too good for those peasant, serf, sherpa clothes...since I got paid on my open acreage, I'm clearly hanging my hat with a better class of LOSER...
I'll stick to my Wal-Mart Dickies and outlet store Wranglers. Keeps the greedy money grubbers from wanting to try to figure out how to separate me from my $$$. I won't live any differently, I may worry a bit less.
Just havin a little fun Finn.... Robin Hood Kasich, now that there was funny, I don't care who you are....lol... should provide a few laughs today...