Just released this morning. Good news for all in the wet zone of the Play.
http://www.chk.com/News/Articles/Pages/1610725.aspx
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this maybe a silly question, but I truly do not know the answer. We live in Stark County and the map shows oil... What is best? Wet or oil? I sincerely do not know what wet means
oil=$80 per barrel
Wet Gas= approx $50 per barrel
I'd say the oil, but I think closer to the transition line between the two is probably the sweet spot.
Randy
The oil price varries daily with the market. The price of the NGLs was an approximation. I came accross the value of NGLs in a financial report that might have been from Devon where they stated the value was $53 per BOE. I don't know how exact that is, and it would also fluctuate with market prices. I did see a discussion the other day where the BTU values were broken down. If I find that dicussion, I'll post it.
Randy
Dan, Check out the post gas composition on this main page. on page 1 of the discussion there is a post by Sylvester Deal dated May 12, 2011.
Randy
At moment I write this the NYMEX crude oil price is $82.20. Last week it went down to the mid $70 level. Nat gas has also dropped to approx $3.50. If the markets continue to drop, and we slide into a world-wide recession (which will further reduce demand) the whole leasing/drilling scenario may change. Things certainly slowed in the Marcellus Play in 2008.
Randy
David
What part of Nimillishen TWP do you live in
Thank you
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