Replies to This Discussion

Permalink Reply by Gary on September 13, 2013 at 10:58pm

McClendon has a 2.5% stake in the McMasters well in Hookstown...I also thought he had to buy into every CHK well...

Permalink Reply by craig on September 19, 2013 at 2:27pm

Gary, he doesn't HAVE to buy in each well.

Permalink Reply by Michael on September 19, 2013 at 8:14am

The CTG well is across the road from me and the sand and water trucks have been going in there non stop, day and night since Monday. I figured there must be something good in the ground since it hasn't been that long since they initially drilled and capped that one and the McDanel site. Who is Clendenon?

Permalink Reply by craig on September 19, 2013 at 2:33pm

From what i've been able to dig up they seem to be fracing then letting the wells sit for some months before production starts...at least in other areas of the Utica. This fits in with what is happening in our area (I'm not a mile or so from you) in that the gathering lines are planned to be started in the next few months and finished by Jan. or so. That gives the wells 6 months of rest before starting production. 

CHK badly needs to get some wells online, asap for various reasons. 

You do know that there are at least 2 more formations under us that they will most likely be targeting in the future. We are living in the start of good times coming for our area I believe.

Clendenon is the x CEO of Chesapeake, he was forced out by the Board, but still has the ability to buy up to 2.5% of any well CHK drills.... at least until next April when the agreement ends.

Permalink Reply by Jason on September 19, 2013 at 3:28pm

Craig - a HS friend of mine is now a geophysicist with Chevron. He told me that following fracing and flaring - that the well is shut down and allowed to rest for a few months.
Ironically - the drillers have found by accident (they were waiting for pipelines to come online) that when the wells are permitted to rest - they provide more flow than they did at the initial testing of the well. Pretty cool that it happened like that / he said all the drillers just happened to figured that out.
Anyhow - best of luck to you northern beaver county owners. My area of Hanover twp is undergoing a large 3d seismic test being shot by range. Still rumors that range is picking up Chk leases in my area.

Jason

Permalink Reply by craig on September 19, 2013 at 5:56pm

Jason, I heard the same thing from customers that are in the gas business.

I talked to a gentleman from your area and he said CHK didn't re-up his lease and that Range and others are approaching him. This was a couple months ago and haven't seen him recently. I was under the impression that CHK doesn't want the South side of the Ohio river anymore as well.

Infrastructure is scheduled to start being built late this fall and online early next year. As the song says.... We've only just begun!

Have a good one!

Permalink Reply by Michael on September 20, 2013 at 2:27am

Craig,

 

That's makes sense why Chesapeake said it would be 4 -6 months before any letters were mailed out,.