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Permalink Reply by Bill Barnaby on June 24, 2015 at 4:04am

Last I heard they had the big rig (patterson?) on it, once that big rig moves out generally the holes are drilled and the frac team comes in after that, could be a day, could be a month or two. Over at the krazy train it was used as a parking lot for over a month while they fraced razin cain.

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Permalink Reply by Sharlene Stuart on June 25, 2015 at 1:33am

Hi Bill,Thanks for the info!

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Permalink Reply by Bill Barnaby on June 25, 2015 at 4:15am

You should expect each well to flow between 14-18mmcf a day for the first year also, after that you should start seeing a decline (until then it's a zero percent decline basically). This is comparing it to other rice wells in the area, bigfoot, blue thunder, son uva digger etc.

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Permalink Reply by Sharlene Stuart on June 25, 2015 at 11:42pm

How do you calculate the production numbers? I checked the ODNR website for Blue Thunder and the 3rd Quarter 2014 production is there but I am not sure how to figure the daily production rate? Also our property has 2 wells included in the drilling area. I assume this means we will get paid on each well separately, correct?

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Permalink Reply by Bill Barnaby on June 26, 2015 at 2:17am

Rice releases "investor" information every quarter, they spill the beans on well daily production etc. in basically every one they do. If you go to riceenergy.com and look at invester relations you will find powerpoint slides etc. Google if your friend :D

Each well will be paid in one check, but they will be broken down with what each one produced, deductions (if you have them) etc.

If they do to thunderstruck like they have the others, they will flow basically the same each month, but your check amount WILL change due to the price of natural gas being in the toilet.

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Permalink Reply by Finnbear on June 25, 2015 at 2:19am

I think that part of the strategy is to drill the well and then let it "rest" for a few months before fracking.

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Permalink Reply by Sharlene Stuart on June 25, 2015 at 11:46pm

We can see Mohawk Warrior form our property and that seems to be exactly what they did there. They drilled all last summer and then it got really quiet for a few months. Then they brought in the fracing team. Do they frac all the wells they drill at one time?

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Permalink Reply by Bill Barnaby on June 26, 2015 at 2:20am

They frac all the wells on a single pad at once generally. The Mohawk did indeed sit for a little while (think someone told me about a month). The Krazy train also sit for at least a month. I don't recall Razin cain sitting that long though but I could be wrong as my memory is fuzzy there.

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