Replies to This Discussion

Permalink Reply by James Vanderink on December 12, 2014 at 8:54am

Congrats Mike and thanks for all info you provide out of Cumberland.

Permalink Reply by Amanda Sealock on December 13, 2014 at 5:01pm

Defiantly better then September :)

Permalink Reply by Mike Fulper on December 14, 2014 at 3:19am

Good for you Amanda...

Permalink Reply by Jon Henderson on December 14, 2014 at 1:01am

Mike, thanks for the update. Was the production of oil (per day) close to what you had originally thought it would be?

I know the price of oil has plummeted since September but I am still hopeful that they are unlocking the recipe for extracting this oil on the west side and will be moving North soon.

Permalink Reply by Mike Fulper on December 14, 2014 at 3:24am

Yes the Oil production was what I figured it would be based on Clark and Spencer and all the

extra work EQT put into NCD3..

We can live with what its producing....

For the landowners.....$40 a Barrel is still good money.....

IM only guessing.. but im sure EQT is not running the wells wide open...

due to low prices.

They are taking out an average of 3-4 tankers a day.. most days.....

When prices go back up.. I think we will see more production...

There is no shortage of oil down there...

and im quite surprised at the Gas that is being produced....

Even the Gas royalty is in the hundreds...$

Permalink Reply by bo boboski on December 14, 2014 at 4:24am

Okay Mike, thx for letting us know that all is well with EQT's wells that got the newest frack method in your area. what we don't know, but would like to, is how much is each well netting you per day.You know, what can the rest of us in western/central Guernsey county  expect, say if we have 1 acre in a 160 acre producing unit.Dont know what your Royalty % is, but figure its between 18 to 20 %. gross.  Most of us cant figure out if we will be getting $60.00 per month,per acre, or $600.? I do believe that the checks will rise the farther east you go until you get to say,Belmont Co. I know it's "found" $$$, and you cant bank on it,cant quit our day jobs, but it would be nice to know the real truth. You hear stories of small & large amount of royalties being paid, until someone actually  getting royalties fess's up, its all hearsay.

Permalink Reply by Mike Fulper on December 14, 2014 at 6:13am

No problem

Tho Gas is one price and Oil is another.. but put together....

We have 24 acres and two laterals and the total check is $6400

divided by 24 acres equals about $266 an acre...at these prices....$92 barrel of oil..

$2.66 a unit of gas...

This will VARY greatly by the amount of PRODUCTION.. which goes up  and down..

We cannot count on $266 an acre each month...will slowly go down....

We have 11.5%  in one lateral and 3.4% in another lateral....

Total check divided into acres is simpler ...but its GAS AND OIL.....

No one getting rich over here.... but darn sure pays the bills....

THEN SUBTRACT ABOUT 30% FOR "freebies'  for those that don't work....:(

Those that "don't work"  mostly includes ..  Members of Congress   :)

so again... no one getting rich over here.....VERY FEW WELLS EAST of here

are  Gushers....... some are.. and that's fine....but most wont be...

We are just lucky we have EQT.. and not some of the others.....

and Jeff Riggens did everyone a favor over here with our AMARADO LEASES...

Very simple lease............... 17 1/2 % of well gross...

.then times the % of each lateral..

and.....you don't need a Lawyer to do a lease..

Just common sense

WHO CARES HOW MANY "LAYERS"  YOU LEASE..... geeez

Lease all of the below ground levels....

THEY ARE ONLY GONNA DRILL ONCE....

Why would you want to "limit"  the driller to ONE specific level...

Not smart.....

Here is my "take" on people that are close to getting a lease....

DONT GIVE THE DRILLERS A HARD TIME... Your much likely to get a WELL....

If they think the AREA  IS FRIENDLY.....:)

By the way......This $6400..... was

for JUST 12 DAYS.....PRODUCTION....:) .................... !!!!!!!!!!!!!!!!!!!!! ...  Sept....

Don't think there is OIL West of 77  ?  

  Think again...

so there you have it.... Hope many others have the good fortune we got....

Permalink Reply by Philip Brutz on December 14, 2014 at 6:30am

Around $22 per acre per day.  Congratulations Mike!

Permalink Reply by bo boboski on December 14, 2014 at 9:08am

That's $22. per acre, on two laterals. or $11. each well, OR, $330. per well per month, per acre. I'd say, since they probably wont be drilling any farther west than you, anytime soon, that those #s are the worst that anyone east  between you and the river will see . nothing anything less than that.  THX ,  Mike, I see you are not one of those people who disappears after they start to receive royalties! It'll be interesting to see what 30 days of production brings.. I'm sure there's a choke .

Permalink Reply by Mike Fulper on December 14, 2014 at 11:02am

Most all info is public anyway.... only thing not in public records is

Lease % of Well Gross.....

Unit size % is public also....

anyones $ can be figured pretty close....

Remember.. this 12 days was FLOWBACK.....and production was slowed

little by little in the last 3 months....

FLOWBACK STARTED AT 15/64   !!  ended at 32/64.....

and last I heard...

was 64/64  open......but production is not daily... so hard to tell

month to month....

Remember....reseivor pressure means nothing over here....

it drains...

to vertical and is GAS LIFTED.....

Permalink Reply by Jon Henderson on December 14, 2014 at 12:52pm

Thanks for all the detailed info Mike. This should give all of us over on the West side of the county hope that our land really does have potential. If my calculations are correct, then EQT should be making roughly $103/acre per day off of these wells which should make it worth the expense of drilling and the elaborate fracking process.

Permalink Reply by Mike Fulper on December 15, 2014 at 5:47am

ONe thing to remember.... ALL wells drop off fairly quickly...

NCD3 started Sept... this is Dec....and output is down to about

20%......should stay steady at that for quite awhile...

Those first few checks .. are nice.. but DROP OFF quickly....

Gas stays up longer.. as per EAST of here...

Oil will last years.. tho  slow output....

I look for GAS FRACING to be the way to go.... better then

water fracking....

West of 77 is the future... just don't know when....

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