Comment

Comment by sldouglass on March 7, 2013 at 12:05pm

It is good to learn what you can, but keep in mind that what you are seeing are the first few exploration wells out of hundreds or even thousands in a company's drilling program - over the next 100 years or so. The objective now is to get as much as possible under lease as cheaply as possible for future development - drilling maybe one well per unit to hold the unit leases. What is found in exploration wells is proprietary to the company spending the millions so do not expect to hear the whole story the the producer does not eve n want his sophisticated competitors to know.

Comment by Joseph-Ohio on March 7, 2013 at 3:40am

I'm in neighboring Ashtabula County about 5 miles from PA. (Richmond Township).

I've been in trying to stay appraised of what's going on in your County in PA in way of gas and oil activities.

I'm also a member of the Ashtabula County Group and the Ohio Landowners Group.

Maybe we can learn more if we share these pages.

There was a MoyerAsh well permitted to Chesapeake near Pymatuning in Richmond Township that was started but then stopped as they moved on to the south and then began having their troubles with the SEC.

Anybody close to my neck of the woods know of any new activity around Pymatuning / Linesville ?

Best of luck to all of us - we need it.

Joseph-Ohio

Comment by markkot on March 6, 2013 at 3:32pm

I hope they do try to either run additional laterals or if they can refrac the lateral that went awry, they can perform that successfully,  Still a learning game.   I perceived the results as 'its good production based on the poor frac'.   Again, its only one lateral and we're still early in the game.  Being able to admit the mistake is realistic and I more believable.  Putting 4 to 6 mil. into a well is a gamble, and I don't believe a gamble you walk away from without trying to repair the output, if you can.   I'm hoping they refrac, if they can, or bore another lateral and try to improve the output.

Comment by DeanG on March 6, 2013 at 3:02pm

Wow. There sure are a lot of negative comments here. Depressing actually. Glad I don't just get my information here!

Comment by Douglas W on March 6, 2013 at 10:47am

@ Bob Jenness. I tend to agree with your translation. The cynical side of me asks what executive doing a conference call would say "You know, we just plain screwed up in Crawford County, all 181,00 acres are a loser, Lippert sucks and I'm filling it with cement," They are committed enough to where maybe they would try to salvage something no matter what, I don't know, but at least they are pressing on. Hopefully, not just as a face saving gesture.

Comment by Berk on March 5, 2013 at 4:36pm

Hey since we are all waiting around for something to happen did you notice the price of NG went over 3.50.  

Comment by Jim Litwinowicz on March 4, 2013 at 4:46pm

Ron; not really but if they are getting 1.5 from a well that didn't frac properly that isn't bad.  And they seem very confident that they will do much better. I would love to know the wet gas fraction.  They also seem to think they will get substantial wet gas. But maybe I am just too much of an optimist. 

Comment by Ronald L Wilcox on March 4, 2013 at 2:34pm

Jim litwinowicz,just wondering if you have any idea what is considered a good flow rate for well configured like the Lippert?

Comment by Bob Jenness on March 4, 2013 at 7:58am

Doug W., and all - I'd like to translate the RRC presentation from investor-speak to landowner-speak...

"We own so much of the Crawford Utica that it's almost a (wink, wink, nod, nod, giggle) monopoly.

Just to be sure, though, we're forming an alliance with the poor smaller drillers in the area to make sure we can outlast and fully control any landowners who may get the silly idea that they can actually share the wealth."  

I was part of AT&T when they said that about Telecom, and I know that the government and entrepreneurs freed us all from that once-great monopoly.

I was part of IBM when they said that about mainframe computers, and I know that Bill Gates freed us from that monopoly.

I remember when Gulf Oil thought they and the other Big Oil guys had a monopoly, and I know that Boone Pickens found a business model that restored a fair return to investors, and probably kept gas prices lower than they would have been otherwise.

So for Crawford County Landowners, who will be our competitive and entrepreneurial white knight?

CX, NWPALG, WPAGLC, etc. Will you become a viable force to open up this monopoly, or will you cave in and be just another captive landman hewing to terms set by the monopoly holders?

Boone Pickens, have you got one more run left and would you like to visit Crawford County?

Bill Gates, how about considering this PA landowner relief as worthy as your offshore charity ventures?

Warren Buffet, how about buying a modest, fairly priced leasehold in the Utica?

Rex Energy, or anyone else outside the RRCTrust, are you big and ballzy enough to have a run at this?

Gomarcellus readers, anybody for trying to form a startup - think global, but produce local energy?

Comment by j. rick on March 3, 2013 at 1:08am

Thanks RJS. wasnt sure but glad to see neighbors were involved.

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