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Permalink Reply by Joseph-Ohio on May 16, 2013 at 8:15am

Saw it.

I'll be impressed when the activity box (shown on their slides) grows to encompass the rest of the Utica Play including the northern tier and of course Ashtabula County.

They say the best is yet to come.

Put the pedal to the metal and bring it on.

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Permalink Reply by Ohio Boy on May 16, 2013 at 8:17am

Too much information is still withheld. I would like to see how much the wells were choked back and how many hours per day in production. Without that additional information we are at the mercy of the companies who actually know that information!

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Permalink Reply by dingojoe on May 16, 2013 at 9:09am

If North Dakota can produce monthly statistics, I don't know why Ohio can't.  The oil production is soft, but everyone knew that and unless NG is at $3 there a glut so it comes down to how wet the gas is and the cost of production and developing the midstream.  Still too early to tell how competitive the Utica will be.

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Permalink Reply by Gary L on May 16, 2013 at 10:39am

It was mentioned that reporting will be required quarterly. Regarding quality, oil is light concentrate between 55-70 gravity range, does evaporate some and sells in the 85% range.

Wet gas is rated 1,250 BTU as dry home gas is 980 BTU. 

84 Utica wells are now in production as most were choked. 3 wells were plugged, 32 wells on line,but restricted,19 wells are tested and shut in. Must be 13 Marcellus wells on line to make 97 total.

Drilling time decreased on 7,000 vertical,7,000 lateral, 30-45 days to 17-20 days as total cost is coming down also. Return expectations are strong as we are only in the initial phase of Utica exploration. With out midstream, things will be slow.  Best is yet to come.......

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Permalink Reply by Gary L on May 16, 2013 at 1:02pm

Due to another discussion similar to this subject, ( ODNR Report ) by another member, I will delete this one tonight. I apologize if I offended anybody, they posted 30 mins ahead of me and I didn't see it.

I wish everyone the best and prosperous futures for all of us.  

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Permalink Reply by dingojoe on May 16, 2013 at 1:39pm

Actually, you're thread title talks about the presentation, while the other thread talks just about the results, they're actually a little different topics.  The presentation was the state's effort to put  their spin on the results.

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Permalink Reply by Joseph-Ohio on May 16, 2013 at 1:31pm

As you wish Gary L, but duplicate posts
on different groups never bothers me
as I think the info. reaches more people.
Thanks for your posts Gary L.

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Permalink Reply by searcherone on May 16, 2013 at 2:13pm

Gary, consider leaving the discussion up.  

As far as the presentation, I thought it was very scripted, Kasich got his plug in for the severance tax, if one has been following the discussions on this site much of the info had already been discussed, as for the monetary value of the production they are based on a particular set of values, not actual figures.  They told us they are doing what many on here do read/listen to the company's presentations and filings.  We didn't even see/hear the questions and answers after the presentation as they did it informally, as they said come on up if you have questions.  I wanted to be impressed with the presentation and I wasn't.

However, the word staggering was impressive and perhaps we landowners don't really understand yet just how valuable these wells are and will be in terms of dollars.

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Permalink Reply by Gary L on May 16, 2013 at 4:03pm

After reading some of your responses, I will not delete this discussion as I now realize feedback differs from production numbers. We might gain some insight as more input is generated.

Searcherone you hit the nail on the head, I totally agree with your point of view. 

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