Interesting research on Utica/Point Pleasant

http://www.itg.com/wp-content/themes/itg-decode/energy-2013/19-Manu...

This outfit, ITG, put together an interesting analysis of the Utica/Pt Pleasant in Ohio. I find the porosity analysis quite revealing, the best performing areas have the highest porosity. The northern utica has much less porosity, answering the question as to what is causing it to underperform. Based on my daily reading of the Utica (I need a better hobby), I now believe the two most meaningful factors are the depth to formation and porosity. Thickness of the shale and total carbon are just as high in the north, but the wells are not producing like the southern ones. This study shows Belmont, Guernsey & Monroe as higher porosity areas and the depth to formation is approximately 2,000 feet deeper than the north. 

Anyone have other observations as to what is the determining success factors?

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Permalink Reply by jeff lavoie on June 30, 2014 at 8:01pm

its all about pressure,,, the deeper you go the more pressure there is forcing those hydrocarbons out at a faster and bigger amount,,, with point pleasent interlayered in the utica in southern counties  eg,,belmont , monroe and noble counties giving the utica even more pressure than in the northern counties

Permalink Reply by Rick on June 30, 2014 at 10:08pm

Noble is proving to be the best! more consistant than the other counties!

Permalink Reply by Rick on July 3, 2014 at 11:11pm

I just wonder how deep they will really drill then if deeper is more pressure! I hope 20 ft. past the black trenton river...lol where i still own..lol

Permalink Reply by D M on June 30, 2014 at 10:40pm

If you have some time to burn, here is a link to a recorded copy of the webinar  Utica/Point Pleasant - Where are we at now?    Recorded Webinar       It an updated version of the ITG presentation held at Penn State recently. The first three minutes or so are introductions.     

Permalink Reply by paleface on June 30, 2014 at 11:25pm
Permalink Reply by David Perotto on July 1, 2014 at 12:16am

Got to be careful on the source on this article. I do believe some of what the offer suggests, but I think the article had a predisposed conclusion.

Permalink Reply by Joseph-Ohio on July 1, 2014 at 12:43am

Thank you for access to the excellent information Mr. Perotto.

For any interested reader, my interpretations / beliefs / opinions on the whole can of worms follow :

If the gas and oil resource resource exists (and it does exist both south and north Utica Point Pleasant); and gas and oil concerns want it (and they do); and they own the right to collect it or can obtain the right to collect it (and in Ohio they own the right to collect it in most cases already or can obtain the right pending ODNR approval); then they will have it when they want it; as I believe they have methods to recover it from any geological source on the planet (granted some methods more and some methods less expensive than others).

In the process they will continue to develop better and less expensive methods of recovery and obtaining the right to recover it for absolutely the least amount of expense as they can manage / arrange.

That's the game plan the way I see it and all as always IMHO.

Permalink Reply by David Perotto on July 1, 2014 at 1:06am

Joe,

At one point in the presentation they actually state the hydrocarbons are better in the north. You are correct, the answer is how to extract them. Somebody , someday will figure it out. Patience in the north will pay off. I hold mineral rights in Ashtabula, Mahoning & Venango counties, so I must practice this patience. I am good learner of this art as I live in socialist NY and have the NY moratorium to teach the lesson. 

Permalink Reply by elliemae82 on July 1, 2014 at 11:47am

Now I wouldn't lease for less then $10000/acre!! lol

Thanks David very interesting!!

015334grltd9mPermalink Reply by 015334grltd9m on July 2, 2014 at 12:42am

David,  I also reviewed this report a month ago, very educational.  In my humble opinion and I am known here to be very optimistic, is that the report is using old data and is very accurate to  base its facts on the data it possesed at that time.  Notice all of the Hilcorp wells missing also many of CHK's wells.  Remember, the study is based on production provided by the industry and we all learned it is controlled.

Permalink Reply by Joseph-Ohio on July 2, 2014 at 1:21am

So, any newer data that changes anything of consequence that you know of ?

What do you see as wrong / outdated if anything ?

I'm in Dave and Aaron's corner on it all myself.

November 2013 isn't that long ago.

The way I see it the heart of the points they make are that quality rich condensate and oil are present in the northern tier.

So a few new Hillcorp and CHK wells aren't indicated - so what ?

Permalink Reply by MJ on July 1, 2014 at 2:13am

Well said Joe!

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