AP: "Gushers" reported by Cabot....

Just read the AP story linked  below....I think some of us expected the volumes to be high, but this is interesting to say the least!  Capable of 30 million cf/day.

 

http://www.timesonline.com/news/state/gushers-highlight-potential-o...

 

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Permalink Reply by brinlady on June 27, 2011 at 1:46am

Wow!  That's good news!

 

And a very good article that explains in production terms the delays between leasing and royalties.

 

Did anyone notice that the wells are in Dimock???

 

Brinlady

Permalink Reply by N Bohl on June 28, 2011 at 2:28am

 

 

"It's like batting practice," said Matt Pitzarella, spokesman for Range Resources Corp. "The more you swing the bat, the better you get.

 

Fairly bad analogy from an OG company pr standpoint. I mean the article is about wells in Dimock.

Permalink Reply by Jeanette Carrier on July 2, 2011 at 9:56am
Does anyone receiving royalties in Dimmock want to comment on these gushers?
Permalink Reply by N Bohl on June 28, 2011 at 2:13am

Thanks for posting that. I tried to find another article about these Cabot wells but could not. I did find this June 25th article in the NYT's. http://www.nytimes.com/2011/06/26/us/26gas.html?scp=1&sq=inside...

The timing of the two articles is interesting. If you read the entire NYT's article it is more about other shale plays and not Marcellus. Also - if you take in the whole of both they communicate the same thing which is not news - OG companies are filled with a breed of gambler that thrives on potential and unknowns. The Cabot numbers on those wells are truly impressive - I wonder if when the initial production rate is that high if the decline is steeper?

 

 

Permalink Reply by craig on June 28, 2011 at 5:58am

They have to be guessing how the production decline will occur as they have no real history to base it on.....that's part of the gambling they do! If it were not for companies sticking their financial necks out like this our country would be in sad shape.

The true gamblers were those who first settled over here back in the day. They gambled everything for the possibility of a better life.

Permalink Reply by monty deruyter on June 28, 2011 at 12:54pm
It's a gamble , with the odds in there favor.
Permalink Reply by WVU78 on July 25, 2011 at 11:02pm

as in gambling, the folks that gamble the most money and the most often, generally, are the ones that win the most. 

The companies are the ones with the huge outlay of cash, why shouldn't the odds be better for them?

Permalink Reply by monty deruyter on July 26, 2011 at 11:34am

I agree , they only gamble when it is likely to pay off. I'll go all in with pocket aces but not holding a 7 and a 2.

 

Permalink Reply by jb379 on July 28, 2011 at 9:47am

George Steinbrenner would agree.

 

JB

Permalink Reply by Nancy Mosley on July 28, 2011 at 3:00pm
Did you know he owned working interest in gas wells in West Virginia?

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