Comment

Comment by Jim Litwinowicz on March 2, 2013 at 2:59pm

Quote from the Range report; But clearly, when it frac-ed, we now know that the frac did not go where we wanted it to.

When shales are fracked the fluid is pumped in at very high pressures, over 10,000 psi. The pressure wave will follow the weakest part of the shale.  If there is a weak layer or they drill too close to the top or bottom of the shale, the pressure wave will follow that instead of fracturing the body of the shale.  This may be what happened to the Lippert well. They can adjust that by placing the shots differently in the well casing and directing the pressure wave away from the weak areas. 

They may also drill a new lateral at a more proper distance from the top or bottom of the shale. That may be the plan since they said they were going to spud another well.  The good news is they seem to be very confident that they know how to correct the problem.  And of course that they stated the core samples showed solid wet gas potential.

As an aside, I learned a few things about fracking at the Shell open house in Harrisville a few weeks ago. They case a well all the way to the end of the well bore and then pump cement to seal the entire well bore.  Then they  set off explosive charges strategically placed according to bore samples and seismic studies.  These charges perforate the casing where they want the frack fluids to enter the shale.  This is how they control where the pressure wave goes. You can see all of this in the simulation demo the Marcellus Coalition web site.  What I learned at the Shell meeting was that they perforate only about a three foot section every 300 feet of well bore. I always thought the perforations were evenly spaced along the well bore. So by changing the spacing they have some control over the direction of the fractures.

As for the prior discussion on the Pittsburgh Airport deal. When I read the article it stated that the deal was for a $50.000,000 down payment and another $450,000,000 over 20 years.  It didn't make sense that a company would pay out that kinda rental payments or have a 20 yr primary term so I emailed the reporter that wrote the article for clarification. (His email was listed at the end of the article)  He replied that the lease was a $50,000,000 bonus payment for 5 yr and the $450,000,000 was the estimated royalties for a 20 yr time frame. He didn't know if this was a guaranteed royalty stream or what would happen if they failed to hit that mark.

I wonder how many parcels the property is and how many wells it will take to HBP the entire 9000+ acres. And do they have a drilling commitment to drill a certain number of wells. With that large a property here's hoping they have a good Pugh Clause.

Comment by RJS on March 2, 2013 at 1:26pm

J. Rick - that 31 acres is the size of the property range owns that has the well pad and the compression station. The entire unit is 247.9 acres and includes neighboring properties including ours.

Comment by markkot on March 2, 2013 at 1:26pm

thanks, Berk.   Good to see the details of the well.

Comment by Berk on March 2, 2013 at 1:22pm

markkot

these were given to me but it is my understanding they can be requested from DEP in Meadville free of charge. Anyone have better information please.   

Comment by Berk on March 2, 2013 at 1:19pm

Lippert0001.jpg

Lippert0002.jpg

Lippert0003.jpg

Comment by markkot on March 2, 2013 at 12:50pm

Good to know.   Are well plats available free on line thru the DEP or do they have to be purchased from them or elsewhere, to see the details of the wells?  thanks, Berk.

Comment by Berk on March 2, 2013 at 12:23pm

247 Acres according to the plats from DEP..

Comment by j. rick on March 2, 2013 at 12:17pm

can someone elaborate? on from what i understand,the lippert well is on 31acres? would that small of acreage produce the results they are reporting? could this be a ploy to keep others out of the area? or is their drill site bigger? i have never heard how many laterals or the distance they were drilled.

Comment by gary smith on March 2, 2013 at 12:14pm

and they are coming here mark. and we have a government that calls the fort hood shooting ''workplace violence''.

Comment by markkot on March 2, 2013 at 12:05pm

yeah, Douglas, I'm struggle with the patience part.  I'm just fed up with the high cost of gasoline (including the speculators that skim money from the middle and add to our costs), while the camel drivers reap the big reward.  I'd like to let them drink their oil that we pay thru the nose for, while they don't appreciate us infidels, who send our sons and daughters to die on their God forsaken dirt.  Bringing the oil out of the ground will not only make us self-sufficient, but drastically reduce the trade imbalance, which is great for the entire country.  Then, as an added bonus, us landowners can enjoy some financial reward for allowing the O&G's to erect some unsightly product handling stations, and cutting swaths across our country-side to get the product into the industry.  To be a part of the country becoming a strong, self-sufficient nation of good-hearted people again, is long overdue.   Let the unappreciative camel drivers store their oil, while we once again, control our own destiny.  And the royalty check stubs piling up on the kitchen table would be a terrific sight to see, as well.  IMO 

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