Comment

Comment by Dan on October 3, 2011 at 11:59pm

Yes, we have the Upper Devonian here.  The Devonian is really just the name of a large geologic section associated with a certain period of geologic history, rather than a specific layer of shale.  The Marcellus is included in the Devonian, but is considered to be in the Middle Devonian.  Below the Devonian is the Silurian, and below that is the Ordovician, where we find the Utica Shale.  The diagram below shows the Devonian in eastern Ohio.

You can see that the Upper Devonian includes many shale and sandstone formations, such as the tried and true Berea Sandstone and Shale.  The point I want to make is that for Range Resources to say they are drilling in the Upper Denovian isn't really saying anything specific.  Which shale are they actually targeting?  Maybe they want to keep that a secret for now.  It is interesting to contemplate that there may be several other unconventional shales with gas and oil to be extracted besides just the Utica and Marcellus. If you are interested in seeing the full Ohio full bedrock map you can click here.

Comment by Finnbear on October 3, 2011 at 3:13pm

scott,

I wondered the same about Belmont County. Somewhere I think I have seen a stratigraphic map of these different layers showing what is in SE OH but I can't come up with it right now. It would be fantastic if this could be developed for the Utica and then later for the Upper Devonian. It could produce an income stream for generations for landowners.

Comment by scott jackovitch on October 3, 2011 at 9:19am

I just read an article about The Upper Devonian Shale . Range Resources has drilled into it in PA and feel pretty good about it. I assume we have it here in Eastern Ohio as well.Has anyone heard or looked into the possibilities of what we might have with this layer of Shale here in Harrison ?

Comment by Mark Allen on October 2, 2011 at 4:05am

How many companies are currently offering to pay out at $5000 per acre and at least 18% royalty?

What is the length of OOP?

Is it a guaranteed offer,title defect only clause? 

 

Comment by Al Cramblett on October 1, 2011 at 5:56am

I recently received information that there is a landowner group that is accepting applications from Harrison County landowners. Terms appear to be $5000 signing bonus with a 18.5% gross royalty. The lease is landowner friendly. The applications need to be completed no later than 4 October. For further information go to:

http://www.hcolg.org/LatestNews.html

Comment by Shower Bath on October 1, 2011 at 2:42am

http://www.upstreamonline.com/live/article281518.ere

 

Let's see if it links this time.

Randy

Comment by Shower Bath on October 1, 2011 at 2:29am

Three articles that you might find interesting.

http://www.vindy.com/news/2011/oct/01/as-chesapeake-delves-into-dri...

 

http://www.upstreamonline.com/live/article281518.ere

 

http://www.sbonline.com/2011/10/how-recent-oil-and-gas-discoveries-...

Randy

Comment by Shower Bath on September 30, 2011 at 6:19am

Further info on the CHK numbers released this week. Will prices go up?

http://www.pittsburghlive.com/x/pittsburghtrib/business/s_759423.html

Randy

Comment by Shower Bath on September 30, 2011 at 6:05am

Carrizo is entering the Utica through a JV with Avista Capital Partners. Also read the second press release down where they entered a JV with an Indian firm (GAIL) for some of their non-core leases in the Eagle Ford.

http://www.crzo.net/press-releases

Randy

 

Comment by Peter Schueler on September 28, 2011 at 11:41pm

When calculating royalties the NG liquids need to be valued at a market price that is somewhat lower than crude oil. Generally speaking there appears to be a $15 to $20/bbl lower price for NG liquids which is posted daily on the American Refining Group pricing page.

http://www.amref.com/Crude-Prices-New.aspx

The ARG refinery in Bradford PA is not geared to handle large volumes of NG liquids and I expect that CHK and other producers will find alternative markets for these products if they haven't already done so.

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