Utica

Tell me all you know about it.... I have read a couple of articles that have said compnies like CNX/Dominion are not going to be putting up new wells this year because they are heading for the utica, investing(i think this is the right number) 1.1 billion dollars into exploring that.  The uticia is underneth our land as well...which do you lease first  and can you get a compny to lease both?

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Permalink Reply by Marc on June 5, 2011 at 12:11am
I wish people in NY the very best. Unfortunately, your state has too many loud voices who will effectively be able to jump on any environmental blip on the radar and make it seem like the sky is falling and the only solution is to stop fracking.  Maryland is in a similar situation.
Permalink Reply by NY Gas Rights on May 24, 2011 at 5:17pm
Great story from the "Diner", but not in the real world. The numbers you are claiming would make that one of the most prolific wells in the nation. CHK would be touting it to get more investment money, not hiding it away.
Permalink Reply by bill h on May 25, 2011 at 12:02am
Don't be so sure
Permalink Reply by NY Gas Rights on June 15, 2011 at 7:07am
I am sure.
Permalink Reply by bill h on June 15, 2011 at 1:13pm

Well, then, you're wrong.  At least in some cases they are greatly underplaying the potential of some NE Marcellus wells.  That is a fact based on personal experience.  The investor presentation lists an IP that is far less than I know it to be.

 

I cannot explain why this is going on and I'd sure like to know the answer too.

Permalink Reply by NY Gas Rights on June 28, 2011 at 2:37am
Again, you choose to believe the Diner Talk than learn the reality. ALL wells are reported  within a specified time limit (6 months in PA)  CHK is always open for partial sales of their interests and public information is the basis for their offering. ALL wells contribute to the energy policy of the United States. The Department of Energy requires the knowledge to affect the future energy policy of the country. There is NO well producing the oil and gas that is claimed earlier.  Do your own research and stop defending your ignorance.
Permalink Reply by Finnbear on June 19, 2011 at 3:47am

Do you work for CHK? Is that what makes you so sure? Follow their historical MO and you'll see that you are wrong.

They absolutely do hide the production numbers as long as possible for wells that look promising. They have stalled on filing production numbers (by not having the correct documentation) with the DNR on a well in OH that appears to have HUGE production potential. At the same time, they heavily ramped up their lease signing in the same area. They will likely assign a partial interest in these leases to come up with cash for drilling later, but now they are leasing everything in sight which indicates they believe in the play. They have used the partial assignment method before as a means of generating cash for drilling operations and will do so here too.  When the production numbers from their exploratory wells hit the DNR website, everyone else will know what that potential is and they will have increased competition for drilling rights. It is in their best interest financially to hide the results of a promising well and go about securing as much land in that area as they can before they are forced to go public with the results.

Permalink Reply by NY Gas Rights on June 28, 2011 at 3:09am
Who I work for has nothing to do with how wrong you are. You are incorrect all by yourself. Chesapeake is Notorious for NOT leading any drilling play, but instead waits until the wildcatters drill then CHK "sucks the science" and then aggressively leases the target area. After they get enough acres in the play and they have the news releases, then they announce their intentions and look for investors/partners.
Permalink Reply by Marc on June 5, 2011 at 12:19am

What makes you think they have to broadcast it publicly to get investment?  If you were buying into a JV in Ohio, you would want CHK to keep the numbers private so the lid wasn't blown off the story and to keep landowner groups from arming themselves with CHK's own information. By the way, those numbers came from a State Senator in Ohio (who just happens to be the newest president of the Ohio Oil and Gas Association).  Not saying I'd bet my house on those numbers being 100% correct, but it's more reality than your comment, which truly is "diner" quality information. 

Permalink Reply by NY Gas Rights on June 15, 2011 at 7:09am

If you knew anything about Aubry McClendon, you would know the investors are more important than the pittance paid to the LO;s. And your State Senator has NO more ability to understand or gather the numbers than anyone else. Attributing anything to a politician is always a failed road to travel.

Permalink Reply by Marc on June 15, 2011 at 7:57am
Well he is sitting on the subcommittee that is writing the new oil and gas legislation in Ohio.
Permalink Reply by Marc on June 15, 2011 at 8:37am
Generally, your message is non-sensical as a response.  I wonder how much you know about Aubrey McClendon (heard some things about him at the 'diner' maybe?).  I made the point that broadcasting production numbers would give landowners leverage and you seem to agree that McClendon is not out to make landowners rich.  Thus, to the extent your response makes any sense, I think we agree.

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