"CNX describes these as "offset" but they aren't direct offsets within 1000-1500' well spacing. No company in SWPA has drilled multiple Utica wells from one pad, going the same direction with well spacing. "
"Obviously depth is huge. Companies are having issues drilling these wells in a timely manner (causes drilling costs to rise). I think there is a reason that Rice, EQT, Range, etc. have only poked into the PA Utica and more power to CNX if they get…"
"For sure. I completely agree with you. Also that plat map is for Antero in the wet gas areas of Noble/Monroe - Antero has decided to tighten spacing in the wet gas areas as they feel that it increases EUR without detriment to the net asset value. In…"
"Ed - Correct, I only utilized one well on "600 acres" as a middle point for reference. It is possible that GPOR doesnt drill 4-5 wells. XTO came in and permitted 4-5 wells per pad in Eastern Belmont and ended up drilling only 1 well on…"
"Here is a theoretical answer. Let's say GPOR claims 2.0 Bcf/1k. And they decide to drill a 9000 ft lateral.. 9000*2.0 = 18.0 Bcf over the entire life of the well - 18.0 Bcf X $2.00 flat gas price = $36 million dollars.. $36 million X 15% = $5.4…"
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