Comment

Comment by scott jackovitch on March 6, 2011 at 1:52am

Thanks Dan, I think that is the same pipeline that runs along my property on Bargar road.  That is some good news hopefully that well will be a good producer.

Comment by Dan on March 6, 2011 at 12:01am

Scott, the pipeline they want to tie into is a large Columbia Gas transmission line that runs roughly north/south and they are wanting to tie into it near the intersection of Gilham Road and Fife Road, which is about 3 miles west of the well. From the the few people I've talked to who have been approached about leasing right-of-way, the line will roughly parallel Hanover Ridge Road for most of the way but lie somewhere to the south of it. So they have a plan for a path but I don't know if they have secured all the right-of-way leases yet.  I know that they plan for this service line to be a "wet" line, and only plan to put in a seperator tank right before they connect into the main transmission line.

Comment by scott jackovitch on March 5, 2011 at 1:50pm

Dan where exactly is the pipeline that they will be tying into ?  Do they already have a right of way for the pipeline ?

Comment by Travis Wertz on March 5, 2011 at 1:33pm

Wow...thats a heck of a well head. Was this a chesapeake well?   Does anyone have any information of the well on the Harrison/belmont county line on the east side of peidmont lake.  I was looking at the marcellus well logs on the DNR site and I see there is one there.

 

Comment by Poison Ivy on March 5, 2011 at 1:12pm

Thanks for posting the pictures!

Comment by Dan on March 5, 2011 at 11:48am

The latest at the Buell Well:  The NOMAC rig has been down for a few weeks now, and is in Carroll County.  A service rig was in place for a couple weeks,

 

 

prepping the well for gas flow and fracing. While it was working, the frac tankers were staged.  They have around 160 of them staged on Bell Road 1/2 a mile away. They pulled the service rig out a few days ago, and left behind the "christmas tree":

When I took that picture, I asked the gate attendent when they would start fracing, and he said a couple more days. There has been a non-stop 24/7 trucking of water from the old Cadiz reservoir to fill up the frac tanks.  Meanwhile a neighbor was approached about placing a seperator tank on his property 3 miles away just before the point where they want to connect into the Columbia Gas transmission line on his property. They're trying to get it all tied together so they can start production right away.

 

Comment by Josh on February 25, 2011 at 3:41am

Dan, I wasn't able to make the meeting last night, but wondered how the turn out was and any feedback on what was discussed.

Comment by Nate on February 24, 2011 at 5:15pm

Look at it this way, years ago there was only a limited area of economical plays and western Harrison county was were they predominately were. A company had go out and spend $350,000 to drill a well and hope that they could get a return on their investment in 3-5 years. Some wells return better and some worse. Also prices were in the 30's for oil and nat gas was close to what is is right now, so yea $5 per acre was the going rate if you want someone to come risk a wad of cash to make you and themself some money. Right now these prices are inflated by irrational exuberance  because there is no proof yet. Chk was founded by landmen, so they guys are excellent salesmen, they will find a buyer (probably foreign) who will pay 3x what they have in their acreage for a minority stake and they will also carry them for the drillig. If things prove then their hunch is right. If this is just a big bust like a play in Northern Michigan a year ago was, will prices for land still be worth 2k per acre? or back to the $10 range?

 

As a guy from Devon energy put it. "we don't pay those prices for unproven prospects..."

Comment by Josh on February 24, 2011 at 6:32am

I think it is astonishing that five years ago so many people signed for $5(oxford) and now we are talking about $2000 I say we all wait five more and retire?

Comment by Dan on February 24, 2011 at 6:07am

There are so many factors Josh.  There are factors that push it up and factors that push it down.  Speculation about the well, proximity of land to the well, competition from other drillers and brokers and outside energy buyers, size of acreage, trade-offs with other lease terms, how close you are to a transmission pipeline, and market prices of gas and oil, to name a few.  Putting all the factors into a formula that spits out the signing bonus is a few steps higher than rocket science. Maybe a specific rise at some point has one cause, but overall there are many factors at work. Don't know if that is what you are asking. Perhaps someone else has more insight into this.

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