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
Tags:
Negative story on the oil window of the Utica Play by Bloomberg. See the link...
http://www.bloomberg.com/news/2013-04-15/ohio-s-500-billion-oil-dre...
Randy
Take this link to another discussion regarding this article (as posted by a Gary L).
http://gomarcellusshale.com/forum/topics/ohio-500-billion-oil-dream...
My opinions are pretty well defined there.
What do you think about all of this Randall ?
I think the people who are lucky enough to be in the wet gas window will probably make some money in the next few years. Things will really start to pop as the gathering lines and processing plants come on-line. If you are farther east, in the dry gas zone, you may be waiting for the price of methane to get to the $6-$8 per mcf to justify the cost of drilling a well. If you are in the west side of the play, in the oil window it doesn't look to be profitable enough to drill. Thus all of these companies (Devon, Enervest, CHK, etc.) are trying to unload that acreage, and getting no takers. No one should panic or despair. Sit back and observe how this all plays out. We'll all know more in a couple of years.
Randy
Here's a few stories of the day, including how Enervest will continue trying to sell smaller lease packages.
http://www.ohio.com/blogs/drilling
Randy
Thanks for the additional info. Randy.
Read the Enervest article your post mentions.
Funny how they don't mention Ashtabula County by name isn't it ?
We know they lease considerable acreage in our county.
So we interpret that Ashtabula County falls into the category of other acreage retained 'at least for now'.
Thanks again.
J-O
A few new stories from Sat postings. Read the Crains Cleveland story on the Play.
http://www.ohio.com/blogs/drilling
http://www.drillingahead.com/page/utica-shale-news
Randy
Hess released their 1st qtr report today. Check out page 4 for the Utica update. They remain positive on the Utica. How about their Harrison County Athens 1H-24 which tested at 4,230 BOED with 59% liquids. See the link...
http://seekingalpha.com/article/1366611-hess-management-discusses-q...
Randy
Here's a little fact loaded article on the current status of the Utica Play in Ohio. See the link....
http://www.fractracker.org/2013/04/yr-oh-utica/
Randy
Where are we with the severance tax being proposed by some Ohio politicians? Listen to the link for an update....
http://www.wksu.org/news/story/35394
Randy
Here's the 1st qtr financial/operating report from Chesapeake, which includes their Utica Play update.
Here's the link....
http://www.chk.com/News/Articles/Pages/1813480.aspx
Randy
© 2024 Created by Keith Mauck (Site Publisher). Powered by
h2 | h2 | h2 |
---|---|---|
AboutWhat makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen. [ Read More ] |
Links |
Copyright © 2017 GoMarcellusShale.com