Comment

Comment by Dan on April 25, 2012 at 3:24am

ODNR has a new map again revising where they predict the best areas for drilling are.

New map showing revised gas-oil drilling prospects in Ohio creates ...

 

Does that mean that Chesapeake and the other big players' geologists are wrong and have been drilling in the wrong places?

Comment by gary e hall on April 23, 2012 at 5:29am

surveying for a 36 in pipeline through german and green twp.and going through rumley and archer

Comment by rob on April 22, 2012 at 9:09am

gary - what was the letter regarding? 

mineral rights, seismic exploration, etc?

Comment by gary e hall on April 22, 2012 at 6:45am

i just got a leter from spectre energy yesterday for my property in german and green twp. any info on this would be helpful. how much are they paying and how does having a pipeline on your property work.

Comment by Al Cramblett on April 21, 2012 at 7:58am

Sorry, Finnbear, we'll try this:

Natural Gas Going to Zero

By Nick Hodge | Friday, April 20th, 2012

                       

"I think there's a reasonable chance we will fill up the storage this year."That's what Joe Averett said about natural gas storage in Texas and Louisiana this week. Joe would know.  His company, Crystal Gas Storage, built the huge salt-dome caverns that store natural gas in the Gulf states. He says the industry's ability to extract shale gas has led to such a rapid surge in production that the market is having difficulty absorbing it all.  And yet, the drillers can't stop drilling. Many of the contracts they signed will expire if they don't drill.

"They're still drilling wells just to hold the lease, and them having to do that, that's continued the excess production," Joe says. Natural gas prices fell to a fresh 10-year low yesterday below $2.00, settling at $1.94 per mmBtu.

Pleasure and Pain:  People like us who pay electric bills are loving it.  Last year at this time I was paying over $0.60 per therm. This year it's down to $0.57.  My March gas bill was $43.60. (I spent over $300 filling my truck that same month.)If you burn natural gas for heat, hot water, or cooking... I know you're loving it, too.  But drillers aren't loving it so much. Chesapeake Energy (NYSE: CHK) and Encana (NYSE: ECA), for example, are down over 40% in the past year.

And like I said, they have to continue to drill in order to hold their leases, even as storage reaches capacity. These guys would have to drill even if the price of natural gas goes to zero, which it may. If production continues at current rates, peak storage capacity of 4.1 tcf will be reached by October. The only way to make money from natural gas drillers right now is to short them.

Where's It Gonna Go?  For starters, Cheniere Energy (AMEX: LNG) just received federal approval to build the largest U.S. natural gas export terminal ever. The $10 billion facility will be built in Cameron, Louisiana and has already lined up customers from the UK, Spain, India, and South Korea. 

What's more, almost every new electric plant in the works burns natural gas in some way, whether as a primary fuel or, in the case of solar, a back-up fuel.  And there's also a plan to convert the nation's trucking and fleet vehicles to run on natural gas, which would help eat up excess supply.  So there is plenty of money to be made. Exporters, shippers, engine manufacturers, and infrastructure plays are all on the table, and some are already starting to move.  Natural gas engine maker Westport (NASDAQ: WPRT) is up 40% in the past year to $32.00.

 

 

Comment by Poison Ivy on April 19, 2012 at 9:08am

A picture of the Wagner/Zion Retreat well is posted on the Belmont County page. Looks pretty cool.

Comment by Shower Bath on April 17, 2012 at 8:14am

Here's the update from Consol for their first quarter. Note there mention of Hess, and the limited comments on the flowback of their Tusc. Co. well. See the link....

http://phx.corporate-ir.net/phoenix.zhtml?c=66439&p=irol-newsAr...=

Randy

Comment by Shower Bath on April 17, 2012 at 8:09am

Wait to you see what they sell "our" water for. I'll bet they don't get Eagle Ford or Bakken price per gallon. Now, don't get excited, I realize we have alot more H2O than Texas or the Dakotas. Thats one of the big plusses of the Utica Play.

Randy

Comment by Philip Brutz on April 17, 2012 at 7:53am

Follow the money.

Comment by AT on April 17, 2012 at 7:14am

Randy,

I've got a buck that says some politician(s) received kickbacks equal to the difference between the gross royalty percentage they should have got and that sweet 15% gross royalty they say they got.

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