Replies to This Discussion

Permalink Reply by Bob Donaghy on April 15, 2012 at 2:05pm

I was told today that the well has been fraced but there are no immediate plans to turn the gas into a pipeline. There is supposed to be a drilling rig returning to the site to drill one or more  wells. I  was also told that in addition to the new wells Chesapeake plans to build a compressor station at the site. I also noticed that Magnum Hunter was flaring the well behind Witshey's in Middlebourne.

Permalink Reply by Rick Clark on April 18, 2012 at 2:38am

That sounds good Bob, from everything i have been hearing the Hadley is in part of the Super Rich wet Gas areas, it will be interesting when production reports come in. 

according to the Triad Hunter 2012 1st quarter report, the Spencer Well located by witcheys is part of Triad 's Super Rich area it came in at 7 million cfm  1300 Btu gas  600 + barrell  a day liquids.  I am pretty sure it runs down through the Sancho Creek toward Twiggs in Pleasants county.  

Chesapeake has been adding acreage to the Steven Colvin Well just over in pleasants county making the unit bigger so i would say they probably plan on moving the rig down to the Colvin Well next it will be interesting to hear the numbers on the Colvin well to see where the break off point is from the wet gas to the dry gas.  

I think everything in the wet gas areas will take off when Dominion get there plant finished

Permalink Reply by Bob Donaghy on April 18, 2012 at 3:24am

Chesapeake rarely releases production data. I think any numbers we hear will be speculation/hearsay. Here is the quote from Magnum Hunter:

During the first quarter of 2012, the Appalachian Basin Division had four wells drilled awaiting completion. Magnum Hunter completed one of the wells in April in order to obtain test data, and has decided to delay completion of the other three wells until the fourth quarter of this year, when gas processing facilities are projected to be completed and in service. This new area promises "Magnum Rich" gas once processing is established later this year.

• The Spencer Unit #1115, located in the Middleborne Area of Tyler County, West Virginia, was drilled to a measured depth of 10,881 feet (horizontal lateral length of 3,900 feet) and is a 100% working interest owned well by Triad Hunter. The well was fraced with 16 stages and tested at a 24-hour initial flowing production rate of 7.028 million cubic feet equivalent per day ("MMcfepd") (5.01 MMcf per day of natural gas and 335 barrels of condensate per day) on an adjustable choke with 1,850 psi FCP. The well is still in its clean up phase, and the Company plans step rate testing over next week, which will most likely establish the peak 24-hour initial flowing production rate. In addition to the 335 barrels of condensate reported above, modeling from gas analysis calculates another 316 barrels per day of natural gas liquids would be recovered with cryogenic processing, for a total of 651 barrels per day of liquids, or a yield of 130 barrels per MMcf. First sales during flowback began April 11, 2012.

Permalink Reply by Rick Clark on April 18, 2012 at 4:09am

here is another take on it,

Mr. Jim Denny, President of the Appalachian Basin, commented, "Although Magnum Hunter has delayed the majority of its capital expenditures in the Appalachian division until the latter part of the year, we are excited about the recent production results from the Spencer #1150 well. Given the high condensate and high btu of over 1300, we believe this to be a new 'super rich' area for our Company which we have coined 'Magnum Rich.' We continue to evaluate the Utica Shale over in Eastern Ohio after closing on an acquisition of an additional 12,186 net mineral acres in February 2012. We anticipate drilling several test wells to this formation on our leasehold position prior to year-end."

Permalink Reply by Rick Clark on April 18, 2012 at 4:12am

anyway it sounds good for the area, the future prospects look good.

Permalink Reply by Bob Donaghy on April 18, 2012 at 4:18am

The barrels of oil per day equivalent (boe/d) for the Spencer Unit #1115 would be 1212 boe/d. The values for the Mangun and Neider Utica wells in Carroll Co, Ohio were 1530 and 1615 boe/d, respectively. Both the Carroll Co wells had longer horizontal legs than the Spencer well. Therefore, I think the Spencer/Marcellus well in Tyler Co, WV is producing similar volumes of wet gas when compared to the Utica wells in Carroll Co, OH. Does that make the value of our gas leases similar to those in Carroll Co, OH???

Permalink Reply by Rick Clark on April 18, 2012 at 6:05am

thats a good point,

It really should be . I guess there stratedgy grab all the acreage you can while it is cheap and royalty percentage's are low. thats good business for them.  why pay more than you have to.

By the maps the Utica is also wet in Tyler, so really just by grabbing both of those for one bonus is a real deal.  

I realize these companies are investing a lot of money in Tyler county and this region and i am sure everyone in here appreciates that, i know i do, you are seeing free enterprise at it's best.  

but i agree with Bob, same results, same gas, same liquids, should be same bonus and same royalties..

 

Permalink Reply by Bob Donaghy on April 18, 2012 at 7:18am

Rick, do you have a link to a map of the Utica that shows Tyler Co in the wet gas zone? The maps I have seen have all of northern WV in the dry gas zone.  http://www.dnr.state.oh.us/Portals/10/Energy/Utica/Utica_SourceRock...

Go to report page8, zoom in until you can see the county lines.

Permalink Reply by bill littleton on April 18, 2012 at 3:14pm

do you know if any activity is going on up in hickman run rd yet on the last farm that used to be shumans now littletons farm.

let me know any info u may have

thanks

Permalink Reply by Rick Clark on April 19, 2012 at 1:38am

Bob,

I am basing this on the Triad Map page 31 Shows the Utica  spotty over Tyler and northern Pleasants county. http://magnumhunterresources.com/Magnum_Hunter_Resources.pdf

i guess you can never say with certainty how Wet that is until they drill the first Well.

Permalink Reply by Bob Donaghy on April 19, 2012 at 2:15am

Rick, I don't think the green areas in Tyler and Pleasants are Utica wet gas  areas, I think they are Magnum Hunter leaseholds! Why some are yellow and others are green, I don't know.

Permalink Reply by Rick Clark on April 19, 2012 at 2:56am

yes i see what you are saying about  the map, your right 

I have seen the map that Landman showed me from Triad the  green being what they had leased and the yellow being what they needed to lease .  but they had a lot more area covered in Green on there map.

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