Today Carrizo Oil & Gas announced that it is entering the Utica Shale Play by way of a Joint Venture with Avista Capital Partners. There are 15,000 acres involved and Carrizo is paying $1,500 per acre for ONLY 10% interest. You do the math. What would the value per acre be for 100% interest?
http://www.msnbc.msn.com/id/44727794
Randy
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It should also be said that some have paid a substantial 1st cost to create what others consider a 'passive investment' in land ownership.
An investment is an investment - hard money on the line - no such thing as a 'passive investment' viewing things from where I sit.
Could have done without the tongue in cheek disdain / contemptuous / looking down their noses attitude displayed towrd we landowners. Actually, however, that's the way I feel about most news hour 'talking heads'. All they know is what someone tells them to read. They should save the 'spin' and attitude and stick to reporting.
Replying about the Mad Money broadcast:
The 'spin' I took from it was the representation of Chesapeake and Mr. McClendon as being the heartbeat of the Utica Shale Play.
Doing the best possible job under all the prevailing circumstances.
All in all it was a positive portrayal of the Utica and processes involved in the recovery.
Let's be thankful for the good publicity.
Regarding the newsclip:
Found it to be a negative spin (trying to consider all things but casting doubt toward the public and a bit of contempt for the fortunate landowners in Harrison Co.). We, as a brotherhood and sisterhood of landowners, could have done without the backhand.
The state DNR has posted the permit/drilling activity report for last week. See the link...
http://www.ohiodnr.com/oil/shale/tabid/23174/Default.aspx
Randy
If you are tied up with a gas storage lease, you might find the top story on the Brinker storage field in Columbia county interesting.
http://www.ohio.com/blogs/drilling
Randy
An interesting Reuters article on the Utica Play. Politicians doing the industry's bidding, and the lack of production reports. See the link...
http://news.yahoo.com/insight-ohios-secret-energy-boom-going-bust-0...
Randy
Gulfport released the results on the Ryser and Groh wells today. See the link...
http://ir.gulfportenergy.com/releasedetail.cfm?ReleaseID=717444
Randy
Very good results. So good that Gulfport just got another permit for the Ryser pad, for a second well.
Randy
Here's the link to Chesapeake's 3rd qtr financial/operating reports. There is alot of info, but if you look carefully, you will find info on their Utica operations.
http://www.chk.com/News/Articles/Pages/1753284.aspx
Randy
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