McDanel and CTG well activity

The last few days I've noticed activity at both gates, but can only see the McDanel well. There have been a strange looking trailer moved in, a bobcat, and misc other things i can't get close enough to see. I suspect the same thing is happening at the CTG well. I have to wonder if they are getting ready to clear the well of frack water and back flow then maybe finally flare? They plan on doing the gathering lines later this year I think.  Dunno, but I might drive in one of them and ask questions some day.

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Replies to This Discussion

Permalink Reply by Trapper on March 8, 2015 at 10:32am
I'd trade you royalty checks....uh...er...if I had one! Lol
Permalink Reply by Todd on March 8, 2015 at 3:47pm
Thanks for the info Craig. You have every right to be irked. Those gathering fees were hidden and not explicit in many of the old leases. PA Supreme Court should know better than that and has a duty to do better than that -- 12.5% gross royalty should be state minimum.
Permalink Reply by Nancy LeNau on March 8, 2015 at 4:04pm

RIGHT ON !!!!!

Permalink Reply by Michael on March 9, 2015 at 3:15am

Craig,

Are these figures from the 28% gathering costs?

Permalink Reply by craig on March 9, 2015 at 3:42am

Michael, The $/mcf is the amount they sold it for.  The deductions come off after that. I think that is what you are asking?

Example:  for Oct  Gross value for my acreage was $306.12   Now take off the gathering and transmission costs of $103.02 equals 33.6% deductions. Of course as the price/mcf goes up the % deductions go down.

In their defense, which i hate to do, they did credit back to me the cost of the gas they burned getting it sold.... which was $18 over 3 months.

Understand now?

Permalink Reply by Michael on March 9, 2015 at 3:52am

Yes, doesn't sound like you're going to be featured on "Lifestyles of the Rich and Famous" anytime soon.

Permalink Reply by craig on March 9, 2015 at 4:19am

To be sure, I'd rather not be "Rich and Famous".

Being a bit more "richer" would be fine though ; )

Permalink Reply by Michael on March 9, 2015 at 4:29am

I look at it as all found money anyway.

Permalink Reply by Gary on March 9, 2015 at 11:57am

Found money for WHO>>>CHK..My opinion is yes...I'm sorry but they are one of  the only company's that are finding money from the royalties...erks me. http://www.propublica.org/article/chesapeake-energys-5-billion-shuffle McClendon is gone but the stratigy is still there...and anyone with American Energy is in the same boat...and PA WOLF isn't going to help...Ok I'm Finished with my rant...congrats for getting something for your waiting...what a blessing..for the land owning people...who knew....

Permalink Reply by craig on March 9, 2015 at 2:35pm

Agreed Gary, 

The thing about Wolf (or any governor) is: He is going to need lots of $$'s( i.e. taxes) to accomplish some of what he wants to do. So, you would think he would be all for making sure the royalties are as high as possible so as to collect as much tax monies as he can. I believe the average % income tax paid in PA is over twice the corporate tax here.

And yet here we are, being gouged by CHK and their minions.

Oh, the royalties will probably pay for all property related taxes with just a bit left over. Now if we could get back to $4/mcf I would be much happier.

Permalink Reply by Michael on March 10, 2015 at 3:16am

Gary, found money is for anyone who has gotten a gas lease and/or getting some type of monthly payment for the gas being sucked out of their property. Yes CHK is the top dog in all of this but who are the people who signed the leases? They're people who saw dollar signs in their eyes and thought that they would become millionaires without getting the neighbors together and a couple of Philadelphia lawyers to read over the lease. I've never heard so much complaining from people who are getting a monthly gas check and still complaining that they're being robbed. Guess what I'd tell them? Go make billions and buy CHK out then you can make all the rules. Don't worry, WOLF will see what he can do to destroy it since he's an Obamanite.

Permalink Reply by craig on March 10, 2015 at 7:27am

MIchael, when you are getting robbed, it is worthy to call it so. Yes, some did see dollars regardless of anything else.

I never gave a thought about becoming rich via natural gas and I've done quite well without natural gas. In fact when I signed, horizontal drilling wasn't really common at all. 

Fwiw, Stereotyping is not a good thing, careful when doing it. I get caught doing it myself at times!

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