The Harrison County's picture is of Scio, Ohio circa 1898 and represents the boom of days past. This site is dedicated to the sharing of information with all concerned in oil and gas leasing in Harrison County today. Join us and prosper. Please join this group to participate.
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Apparently KWGD is facilitating a buyout. Got a letter about it yesterday. No offer yet but from what I read it will be a similar process to the leasing with bidding related to location. Anyone have some thoughts??
anyone been contacted in Harrison for buying your royalties and what was the offer.
I saw this posted over on the GMS main page, by Bob, and thought it was worth the read.
http://www.rbnenergy.com/utica-oil-bust-a-wet-gas-play-with-plenty-...
Randy
good analysis Randy! Too many ifs and what ifs.
After seeing the ODNR 2012 production report, I'm thinking that it doesn't help much, other than showing that there was some activity. At least it isn't useful for projections. Having 32 days of production for a well looks impressive, but we know that can't be extrapolated out at that level because of the the sharp decline curve that these well take. Plus, we don't know whether they were throttling the flow or not (probably were) or how much. Plus, we aren't being told about the NGL percentages in the gas, which can make a big difference in the value. In 2012 the producers weren't trying to maximize profits on these wells. They were tinkering with completion techniques and trying to impress shareholders with large outputs over a few days. Even the Buell well that ran for over 300 days was most likely not running at full throttle. Why would they, when they could wait just a little longer and pipe it to a processing plant and make more money from the NGLs, and from the general price uptick for gas? There are too many unreported factors in these production numbers to be able to find them useful. When the wells are running year-round and connected into the processing plants we will have a better picture, but to really compare apples to apples, the ODNR would need to report other things besides just oil, gas, brine, and days. If they added a breakdown of the NGLs and the choking percentage on the flow that would help. If we had a empirical decline curve custom for the Utica Shale that would help too.
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