We Need More of Our Neighbors on THIS SITE!

Hey everyone,

 

I really think we need to get more members onto this Guernsey County Site. I have been doing a lot of searching and info gathering on the Harrison County Site, but the more research I do, the more I am convinced that we are sitting on a great reserve. We appear to be right in the OIL RICH region of this Utica, and we need to get more of our neighbors in the county on to this page so we have lot's of information to go on as we go forward. I do not have the answer for how to do this, but I'm sure if we all work together we can grow this site. We currently have 27 members while Harrison has over 100 and even Monroe has over 40. Any ideas? I just want to be able to gather all the information I can to make a wise decision. THANKS!

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Replies to This Discussion

Permalink Reply by Private KeepOut on August 13, 2011 at 4:12am

Ken & Jill, you might want to re-think your decsion about signing that lease! I live in Noble county and after a couple of weeks in talks with a landwomen representing Eclipse I finally got a lease to look at. It's definitely NOT a landowner friendly lease.....it is a net royalty payment you don't want! You get paid after all the production cost and more. Here are my comment about their lease:

http://gomarcellusshale.com/forum/topics/leases-offered-in-noble-co...

 

http://gomarcellusshale.com/forum/topics/leases-offered-in-noble-co...

 

Get a good oil and gas lawyer....I will bet ya he will have a different opinion.

 

Permalink Reply by Jon Henderson on August 14, 2011 at 2:07am

Ok, so here is some interesting information I found by looking at one of the other forums on this site and following a link someone had posted. Which brings up some interesting points.

  1. The Eagle Ford shale play is laid out very similar to the Utica shale play with a dry gas zone to the east, wet gas in the middle, and oil to the west.
  2. EOG Resources seems to be the biggest player in that market (according to them), and they also have holdings in the Haynesville, Bakken and Marcellus(Pa.) I have included their Investor Presentation (attached).
  3. The Eagle Ford runs between 100 - 330 ft thick at depths of 2500' - 15,000'. From what I can tell, the Utica is 4000' - 8000' down (depth) and in Guernsey Cty has a thickness of 200-250 ft thick. VERY SIMILAR geographically.
  4. The majority of the OIL well sites (more than 1 well per pad) are being drilled at depths of 4000'-6000' and thickness of 100'-200', and from just on the western side of the wet gas to about 10 miles farther west. Many of these wells are producing 1000 Bopd and 1000 Mcfd. Doing the math.....1000 Bopd X $90 (avg) = $ 90,000 + 1000 Mcfd X $4 (avg) = $4000 = $90,000 (oil) + $4,000 (gas) = $94,000 PER DAY. Now take $94,000 X 30 days = $2,820,000 Per Month (not bad). Now take that times the Landowner Royalty at say 17.5%.... $2,820,000 X 17.5% = $493,500 PER MONTH. Final step if there are 640 acres in the unit, then that comes out to $771.00 per acre/per month.
  5. I did not research what they were getting for their leases, because I got to caught-up in the production figures. Right now, EOG Resources say they will drill 2700 wells in the 330,000 acres they have in the Oil rich region.

Here is the link http://eaglefordshaleblog.com/2010/02/19/eagleford-shale-maps/ that has the Maps and alot of other info.

 

Have Fun!!!  It's fun to dream! Just be sure and come back to reality. Don't spend it till it's in the bank (or the back yard).

 

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Permalink Reply by paul geiger on August 14, 2011 at 2:35am
Nice job , research does  pay $$$$$. Jon did you find that thing standing in the woods
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