Comment

Comment by scott jackovitch on September 28, 2011 at 11:21pm

Has anyone been by the Buell well lately ? Are they hauling away the liquids by truck?  Wher is the wet gas and oil going to ?  I believe the 6 tanks on site are 400 barrels a piece according to the DNR page. According to CHK's statement yesterday it should not take long to fill up those tanks.

 

 

 

 

 

 

 

 

 

 

 

 

Comment by scott jackovitch on September 28, 2011 at 10:42pm

Thanks AT that is huge. I hope we all get one.

Comment by AT on September 28, 2011 at 3:45pm

Scott, If production could stay at this level, which it won't (it will decrease drastically in the first couple years and then level off), and conservatively assuming natural gas at $4.00/mcf and oil at $80.00/bbl, and using Chesapeake's reported daily production of 9.5 MMcfd and liquid equivelant of oil at 3010 bpd from the Buell well, I come up with (9500 mcfd X $4.00/mcf = $38,000.00 gas/day) + (3010 bpd X $80.00/bbl =  $240,800.00 liquid/day) = $278,800.00 total daily production/177.4 acre Buell well =  $1,571.59 total production/acre/day X 12.5% gross royalty = $196.45 royalty/acre/day X 30 days = $5,893.50 royalty/acre/ month.

 

Like Dan said - huge.

Comment by scott jackovitch on September 28, 2011 at 1:17pm

Has anyone come up with any royalty figures for the Buell well ? I would like to know what it is paying out per month. For calculation purposes lets assume 12.5% and use the actual size of the unit, I believe it is 177 acres. Please figure in all of the resources the dry gas,the wet gas and the oil. I'm just curious and am wondering what some of you come up with. Thanks.

Comment by Hunter on September 28, 2011 at 9:09am

Why are there no new permits???

Comment by Adrienne Baker on September 28, 2011 at 9:03am

Census stats say that there are 403 square miles in Harrison County and conveniently, 640 acres = 1 mile. So to utilize all the land in Harrison County would require 400 wells... No new permits to drill, right? What do you all think about the future of wells in this county? Seems that just because you lease doesn't mean you'll ever see a royalty.

Comment by Dan on September 28, 2011 at 2:30am

Those numbers are huge for the Buell well.  The ODNR report states that the initial production for the Buell well was 6.1 MMcfd gas and 59 bpd liquids.  I thought initial production was supposed to be a high number, with actual starting production much lower and continuing lower following a decreasing production curve over time.  Now Chesapeake is saying that they have "achieved a peak rate" of 9.5 MMcfd and 1425 bpd.  I'm not sure how the peak rate numbers are supposed to correlate with the initial production numbers, but it's quite a difference.

Comment by Shower Bath on September 28, 2011 at 1:56am

You read it here first. CHK announces production numbers.

http://www.chk.com/News/Articles/Pages/1610725.aspx

Randy

Comment by Shower Bath on September 24, 2011 at 6:56am

I was referring to the second article down by seekingalpha "McClendon pegs value...".  This site often has good current events/news. Their home page has more news of a global nature. You might want to mark it as one of your favorites.

Randy

Comment by Shower Bath on September 24, 2011 at 6:51am

Hi Sue. Let's go at it another way.

http://www.drillingahead.com/page/utica-shale-news

Randy

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