Comment

Comment by Jack Young on July 2, 2013 at 3:34pm

It's certainly considered a disappointment by everyone in the industry. That it's was a disappointment is a fact, whether that means that other wells in the area will likely be similar is an opinion. There's nothing to double-check - those production figures (and the initial production reported) are really poor. And the well made very little fluid, and what there was didn't qualify as oil. Look at what good wells in other places produce when they're newly completed - that's the competition, and so far, they're winning. But hopefully more wells will eventually be drilled and different fracs tried, and maybe, if we're lucky, somebody will find a way to make money on the Utica in Crawford County. Until then, however, it's unlikely that anyone will pay much for leases in our area.

Comment by Jack Young on July 2, 2013 at 8:39am

That initial production figure may have been for 24 hours or even 1 hour - you can't assume the well could sustain that or anything close to it. The Lippert well was an enormous disappointment for the industry. There's no escaping that. We just have to hope that a different well completed in a different manner nearby might do better. But it will need to be a LOT better to be profitable.

Comment by Jim Dickinson on July 2, 2013 at 5:48am

State Senate OKs legislation to let drilling companies pool land

Read more: http://triblive.com/news/adminpage/4285763-74/drilling-bill-contrac...

Comment by john doe on July 2, 2013 at 2:16am

Using those #'s Range is getting or allowing  22% of what the well was tested

Would they be monitoring the pressure ,output to compare after a refrack??Experimenting

Comment by RJS on July 2, 2013 at 2:06am

Jesse - The amount is lower (a lot) than would be expected at the published potential for the well.  As has been discussed, they had some problems with the original frack, so even the published numbers are a low number.

markot - I published the first sale numbers already , which you can find in this comment stream using a search.

Comment by Greg K on July 2, 2013 at 1:18am

I heard they were going to re-frack Lippert

Comment by markkot on July 1, 2013 at 11:29pm

RJS, the Range presentation for June 13, on slide 48 of 75m, stated it testedat 1.4Mmcf/d and they were going to perform a 2nd spud.  Based on the production numbers you gave, it sounds like they have it choked down based on consumer demands.  You also mentioned that this is the 2nd sale.  Would you be kind enough to provide the output from the 1st month of production?  The Lippert is slightly less than 13 miles SE of my property and I was hoping for good numbers from the well.  Also, do you know if they did spud another well from the pad?  thanks for your info     mark

Comment by RJS on July 1, 2013 at 11:44am

Received second sale report from Lippert well - this time it shows natural gas being sold, 9,525.33 MCF at $4.094 per MCF.  This is just for April.  Still keeping the day job.

Comment by warjr on June 24, 2013 at 9:42pm

XTO starts western Pennsylvania NGL recovery

http://www.ogj.com/articles/2013/06/xto-starts-western-pennsylvania...

Comment by sldouglass on June 24, 2013 at 5:08am

I am not smart enough to answer as to how many layers, but I have heard some names names that I do not remember.  I remember hearing a guy from Range talk at a Lions Club lunch a while back and he mentioned the Onandaga as having a lot of potential.  [that's limestone, not shale]  Awhile back, I was contacted by a man who wanted me to look over his lease.  It had a one year term and had a drilling obligation that caused the lease to terminate if less than X wells were drilled in any year.  [on termination he got to keep the drilled wells under lease and about 25 acres around the well]  It made no sense to me until I found the object was shallow oil.  Oil reserves passed up years ago as being too expensive to develop are now economic at current prices.  I would not be surprised to see producers successively produce from different layers where they have the infrastructure [like Greene and Washington County] before moving on to other reserves.  Range has reported that there are at least three productive strata in that area and that it costs them next to nothing to keep producing from other strata at the same location.

Of course, at least at the moment, the market for this stuff is limited.  The producers are not dumb.  They will not over produce and drive the price down without a reason.  Markets are just developing.

• ‹ Previous
• 1
• …
• 26
• 27
• 28
• 29
• 30
• …
• 151
• Next ›
• Page