Buying Trumbull County

If you live in Trumbull County, Ohio you may have received offers to buy your mineral rights. Those offers have probably been quite low.

Buy low, sell high; Strike while the iron is hot etc. The folks behind these offers are attempting to take advantage of the disappointment of land owners in Trumbull County. Disappointment by the recent actions of BP and Halcon. They see an opportunity to buy mineral rights on the cheap and sell them later for extreme profits when the value of those mineral rights rise.

If someone is willing to buy your mineral rights then it must mean that they see future development coming. My suggestion is that landowners remain calm and exercise a little patience. Development will come.

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Permalink Reply by Joseph-Ohio on July 18, 2014 at 10:09am

I'm reading porousness (porosity).

5500' to top of the Utica is pretty deep and corresponding pressure ought to be enough to lift production to the surface I would think.

Read another issue is parafin buildup.

If they can swab out the parafin and keep the deep fractures open I would think they'd have it whipped.

Cost of doing that is probably more than southeast Ohio where things like that don't have to be done or done less frequently.

Then there's the infrastructure bugaboo.

Then there's the horse trading to consider.

I see the last two bugaboos (infrastructure and horse trading)  as being generated by the E & P folks / the industry.

All as always only IMHO.

Permalink Reply by Joseph-Ohio on July 18, 2014 at 1:42pm
I've read a reply somewhere on these pages that tagged pressure at about 3000 psi for a well that was around 5000 feet deep.

I'll see if I can find it again and link it here.

http://gomarcellusshale.com/forum/topics/geauga-county-new-permit-b...
Permalink Reply by Joseph-Ohio on July 18, 2014 at 2:06pm
Near as I can gather, that was the Soinski well in Portage County.

Take the above link and check it out.

I'm going to try to verify it's depth that I think is about 5000 feet. I think I picked that depth off of an ODNR well report for the Soinski or a map - I'll try to verify again and get back to this post with what I find later.
Permalink Reply by Joseph-Ohio on July 18, 2014 at 3:11pm

http://www.marcellus.psu.edu/images/UticaDepth.gif

The above link takes you to a map showing the Utica Shale depth in Ohio and that's where I got the approximation of 5000 feet deep for Portage County.

In my mind depth translates to overburden to pressure.

Anyone dispute that ?

Kindly let me know.

Permalink Reply by Joseph-Ohio on July 18, 2014 at 4:26pm
Permalink Reply by Barry D on July 18, 2014 at 7:04pm

Another issue that has an effect on development in Trumbull County is the price of natural gas. The price continues to fluctuate; until that price stabilizes somewhere close to or above $5 an MCF there probably won't be any serious, extended development.

Permalink Reply by Joseph-Ohio on July 18, 2014 at 11:46pm
Prices rise with increases in demand.

Incentives to convert (from burning diesel, gasoline and coal to burning natural gas) for domestic transportation and power generation would cause demand to increase and price would rise.

I think that would take government intervention by way of subsidy.

I think (and I've always thought) that our nation needs to stop subsidizing making war to protect the world's oil supply and start using the money saved to subsidize domestic conversion programs to directly protect our own.

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