Production Numbers Off The Charts, Where Will It End?
The Monroe County production numbers for new wells continue to exceed expectations and Monroe County isn't alone. The question is how high and how many years will it go. I had the good fortune to talk to two people who think the sky is the limit, one a production man and the other a petroleum engineer. The production man said the right people in power in Washington the Utica and Marcellus alone could not only help the US but our allies as well, therefore helping our finances for generations. The petroleum engineer told me that if it were truly logic that ran the show, the alternative energy folks would fold up their tents and go home. We haven't even begun to imagine the potential in the Marcellus/Utica region, let alone the rest of the country.
The Aubrey McClendon's of the world aren't spending billions out of the goodness of their heart, he's doing it because he knows we have haven't even begun to realize the potential of the Marcellus/Utica shale. Just read some articles from about 5-10 years and it will become very apparent to all.
On a personal note, I can't help but think about my family and the countless other families in the area whose lives have revolved around oil and gas. Grandfathers, great grandfathers and in my case even great great grandfathers, some of whom had a 4th or 8th grade education, yet knew enough about geology to drill wells and eek out a living for their family to help future generations like myself get to where we are today. I owe them more than I could ever payback. I think of this every time some emaciated vegan tries to tell me that fracking is bad. After trying to talk logic to them, all I could do was say; May God lead you to truth because your just sounding foolish. We have the logic and the technology let's use it to help those in Appalachia who certainly need the money. If someone had tried to stop drilling 100 years ago, where would be today, beholden to the Saudis, or spending exorbitant money on alternative fuels? Thank God we aren't dealing with that nightmare..
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Replies to This Discussion
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Permalink Reply by Old School Driller Descendant on
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Thanks Anne and Jason, I can't get over how positive all of this news is and how the couple of experts I have had the chance to talk with are so sober about it. They hardly seem like the rose colored glasses type. It is one thing to read about the positive aspects of the Marcellus/Utica, it is quite another to hear it from someone who has a lot of intimate knowledge about it.
It would probably make Gebralter happy to know that none of my relatives from my great- great grandfather down to the current generation ever hit it big. They were literally salt of the earth folks who did what they had to do to eek out a living drilling while making some money farming. I know I am not alone, and because of their hard work we are where we are today, not rich but a whole lot better off than they were 100+ years ago. Also, the land my relatives currently have leased was signed a few years ago before any of the signing bonuses. The only money they can make will come off successful drilling. I suspect that is the case for a lot of folks, but I don't begrudge anyone who did get a big bonus. Good for them!
Often people outside of the area don't realize how poor the Appalachian part of Ohio truly is, they seem to equate that only with West Virginia, which is why the boom can sure help a lot of people (in Ohio, West Virginia, Pennsylvania) who truly need it. We aren't talking about a boom possibility in Martha's Vineyard, but in Appalachia. Thank God it is in a place where people can truly benefit from it. I feel bad for the folks in New York State where Governor Cuomo won't allow drilling. The folks across the border from Pennsylvania aren't that well of and could use the money but they can't reap the benefits because they have a governor beholden to the loony left. On a side note, while in college I had the occasion to meet some sons and daughters of prominent politicians from both sides of the aisle. Most of them I thought would go places. However, I remember meeting the young Cuomo and even my liberal friends said they never met a bigger jerk. Not much has changed.
Anyway, I do believe because of economic growth in the western world and China, Europe's fear of fracking, and the marauding Valdimir Putin, we are in a good position.
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Permalink Reply by Nancy LeNau on
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Good for You, Annie Miller ! I wish you all the Best ! God Bless....
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Permalink Reply by jason irvine on
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I hear you. He needs to drive around these poor counties and see for himself. It not just the landowners who are benefiting. All the hotels are full unemployment is on the decline and the jobs are more then minimum wage. It is a real future for the people here. If I had to guess that person is not from around here. Its just like passing judgement on a war when you are no were near that action...it's easy to be critical when it doesn't effect you
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Permalink Reply by Old School Driller Descendant on
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Annie, glad to hear it, Yes, Jason I wish old Gebralter would see the good things that are happening and at least be happy for those it is happening. None of my family received any big signing bonuses, we signed years ago before they hit. Yet, I am happy for anyone that did get a bonus. I certainly hope they find something on our land, but I don't begrudge anyone who did get a nice bonus.
I can't help but think about all of my relatives who have passed away who toiled drilling wells, sometimes they made a little money to supplement the farm, sometimes they hit a dry hole. They must be smiling down looking at how many people are being helped.
I prefer to have that image in my head than the other image in my head of my recent conversation with some emaciated Vegan. I was out of the area on business and she told me she can't believe I could support fracking. I tried to tell her how it is helping not only our nation, but a lot of poor folks in this part of the world. I was half tempted to give her the names and addresses of some of the folks in the area and have her drive her Volvo and tell them for herself!
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Permalink Reply by m.jones on
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I agree Gebralter needs to look at the good. We bought our farm in the 70's our parents didn't buy it we worked to pay for it ourselves. Never used it as a farm but hoped to build on it someday. But bought other property closer to town and built and actually worked and paid for it ourselves also. We did sign a lease on the farm for $5.00 an acre so made $500.00 a year it didn't quit pay all the taxes on it but helped. It was better then nothing since the farm was just sitting there. Our lease was up recently and we resigned and got a better lease. Those people that think we are getting rich need to think we have to pay 40% in taxes on it so we get about half the sign on bonus, again it is more then what we did have and grateful for it. No royalties yet.Dont know when they will ever drill near us. My son works for a gas and oil company as an engineer, if he didn't get a job with them he was going to leave the area to get a good paying engineering job. I am grateful for that so he didn't have to leave this area. He travels into PA and lower WV and stays in hotels some but after 15 days he is home for a few days but at least he didn't have to move. So the shale business is good for our area in creating jobs and our stores, hotels etc. are profiting also. We are getting more restaurants and more stores being built which means more jobs. Old school good writing.
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Permalink Reply by My Crackers on
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Hey Gebralter, I bought my land from my "Mommy and Daddy" 25 years ago before there was any idea there may be gas or oil underneath it. I bought it because it's been in my family since the 1830's...If I get nothing beyond the lease money that's ok with me,
It must be nice to see into everyone's heart and know their motivation...That's a real talent you have there but you certainly sound like a sad, pathetic person...
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Permalink Reply by Jack Muth on
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The best way to handle a Gebralter type quote, is to ignore it. He probably gets a big kick out of the fuss he creates. You see it on here frequently. This is just another sour grape comment by someone who was not fortunate or smart enough, or lucky enough to own land of his own. And for all of you Mom and Dad people who held onto your land and paid taxes on it for years, good for you. It would have been easier, less expensive and more profitable to sell it and take the money and run...
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Permalink Reply by Rebe Ken on
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The last time I read about the projection, it was 100 times higher than the one I had read about 7 years ago. My husband's family has land(Lycoming County) that had previously been leased by Range Resources, back then.
As for actually seeing how this venture affects local economy, I've have, in Wheeling, WV. It is a shot in the arm like none I've seen till now.
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Permalink Reply by al raptoria on
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What does being a Vegan have to do with being emaciated, illogical, or hating fracking??? I'm a chubby Vegan, logical and cautious about the new techniques being used, but still "in the game." You are flaunting your bias and prejudice my omnivore friend. And your "cause" thus suffers. And the idea that YOU have the answers to "those in Appalachia who certainly need the money" smacks of the same paternalistic egoism that thrust primitive coal exploitation on them over 100 years ago - with all the ills and greed that exploited the People as well as the Earth. To quote you, "May God lead you to the Truth because you just sound foolish." (BTW, Truth isn't as simple as the myopic declare - none of us has the WholeTruth as it is organic and still evolving, as are we - each in our own time.....)(...some apparently faster than others....)
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Permalink Reply by Old School Driller Descendant on
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First off Al glad to hear you are eating well. Secondly, this post was about the positive news for the region. Thirdly, you might want to put all of my and your comments in the proper context. You spent a long paragraph over something I briefly mentioned, not to mention you weren't even there for the conversation. As for being paternalistic; it seems to me one has to have power, money or control to be paternalistic, and one would be foolish to claim they have the whole truth. You might also want to consider all of this as well as what these words actually mean (myopic etc.) before you post them.
As mentioned previously, my extended family is about as salt of the earth as one can get. Now, some of my extended family lives in the area, some close to the area, and some far away. Many have taken advantage of the opportunities they were given and live far better than the previous generation. However, I am proud to say that they haven't forgotten the lessons and values they were taught. If my post touched a nerve with you, it certainly wasn't intended to do so, but maybe it was needed, only you can answer that one. I wish you and everyone in the region well, whether you have land, no land, signed a big bonus or not. I hope our land eventually reaps some rewards, but in the meantime, I wish everyone the best with their situation.
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Permalink Reply by al raptoria on
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...and I hope we human-becomings someday learn that it is not "our land" but that we belong to it, as its Caretakers for the Future Generations - generations not only of our own "myopic" species but those of the Sky, Waters, Trees, Rocks, Grasses and More. As the Aboriginal Native Americans often say, while watching the torment of this land and its natural inhabitants over the past 300 years, "We, whom they call "Indians" should have had better immigration laws." Happy ThanksGiving Everyone.
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