Comment

Comment by Denver Gallentine on October 25, 2013 at 2:20am

Paul, thanks. That makes sence.

Comment by Paul Martinelli on October 25, 2013 at 2:09am

Denver.....

More wells mean more acres.......the royalties would be the same...$300/acre per month.

A 6 well pad would probably be  a 1280 acre UNIT. 

 

The royalties would go up some because each well unit would not be 250 acres....but closer  to 210.

so if all wells produced the same, and assuming numbers above.....

6 wells =  6*25K= $150,000/day

1280 acres  = $117/acre per day

Same bad lease=  $11.70/acre per day   or $351 per acre per month

Comment by Denver Gallentine on October 25, 2013 at 1:59am

Paul & TM, thanks for the information on well production and royalties. Now a question. If a well pad has 6 wells on it (often the number they shoot for) according to your numbers a well would produce $300 per month. Would that mean since there are 6 wells on the pad the royalties would be $300 X 6 = $1800.
I assume the numbers given a per well, not per pad. Thanks. - Denver

Comment by Paul Martinelli on October 25, 2013 at 1:38am

TM....thanks for the updates....

 

So assuming: oil $100*250 = 25,000 

Assume unit is 250 acres     = $100/acre per day

Assume horrible lease of 10%  = $10/acre per day....or $300 per acre per month.

 

 

                

Comment by TM on October 24, 2013 at 10:10am

EQT reported some results today of 3 wells they drilled west of I-77 in the volatile oil window in Guernsey County.

The Company completed three Utica wells in the oil window in the third quarter 2013 — with 30-day initial production rates of 286, 268, and 241 bbls/d of oil, respectively. If processing were available, the wells would have produced 41, 58, and 42 bbls/d of NGLs, plus, approximately 755, 1,082, and 771 MMcf/d of natural gas, respectively. Regional pricing was realized for the natural gas; while the realized oil price was approximately $101 per bbl. The Results were 40 percent oil, 28 percent NGLs, and 30 percent gas.

These numbers seem to be on par with The Tusc wells that have been drilled so far.

Comment by James Vanderink on October 16, 2013 at 12:03am

PARKER 23-5-1 3
Civil Twp:
TUSCARAWAS
PERRY
Ingress
Egress
CHESAPEAKE EXPLORATION LLC
Rig:
RTAF
County Rd:
aPATT023233
Purpose:
ST


P O BOX 18496
Township Rd:
10/15/2013
Type:
Drill New Well



Lot:

Exists:
Municipal Rd:


XCoord:
2309110
OKLAHOMA CITY, OK 73154
Sec:
23
Acreage:
0
State Rd:
ST RT 258 (NEWTON RD)
ST RT 258 (NEWTON RD)
YCoord:
202152
4059352750
Quad:
BIRMINGHAM
Formation(s):
TRENTON
Open browser with map of well.

Comment by TM on October 2, 2013 at 6:32am

http://www.timesreporter.com/news/ohio/x1803297693/Joint-venture-in...

Comment by TM on September 14, 2013 at 5:26am

Utica Sweet Spot

http://www.tribtoday.com/page/content.detail/id/592948/Shale--sweet...

Comment by Stephen W. Albery on September 13, 2013 at 6:20am

Anyone know of Oil and Gas companies still leasing in Tusc County?  Need to know Name and number.

Thanks!

Comment by Denver Gallentine on August 14, 2013 at 10:26am

This is an exciting time for Tuscarawas, Carroll and Harrison Counties. Some people and municipalities will find quite a change in their future (as we have heard from some, it will not all be positive). I hope community leaders understand this will not last forever and use/invest incoming riches in ways that will be beneficial far into the future. Research communities in New York and Pennsylvania who have experienced these changes and use their positive and negative actions to help guide decisions made here.

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