OIL In Wellsboro ??

I was told last week that the local gas/oil co drilled through the Marcellus, Through the Utica and hit oil about 12000+ FT down. Has anyone heard that rumor? Is there any truth to that?

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Permalink Reply by Paul Martinelli on February 2, 2011 at 4:11am
I had heard rumours about oil under the UTICA too.....no evidence....just talk at this point......I sure hope so!
Permalink Reply by Carol M. on February 2, 2011 at 3:11pm
For most people it will not make a difference on the signing bonus since they already have leased, if the rumours are true. Nevertheless, on the royalty side it will be sweet crude.  
Permalink Reply by hunter777 on February 3, 2011 at 6:26am

From what I've heard, oil is not such a blessing to the O & G companies.

Gas can flow freely from ground to pipeline to consumer.

Oil has to be sucked from the ground and then there is no transportation infrastructure.

 

It would be better to find more gas in different shale layers, and perhaps the Trenton-Black River.

Permalink Reply by paleface on February 5, 2011 at 2:52am
 Hunter If the oil pools were very large we would have oil and gas companys rushing into wellsboro,so we have to wait and see what they estimate for pool size? 
Permalink Reply by craig on February 6, 2011 at 8:02am
Actually I believe that we would be better off if they find very 'wet' natural gas. Reading everything i can get my mouse on, I have come to the conclusion that the gas companies are pulling their rigs out (to some extent) of the 'dry' natural gas plays and heading to the wet ones(Chesapeake states this in their own postings). This makes sense as I read somewhere that all the other constituents of wet gas make the value of the contents of wet gas wells some 50% more than dry natural gas. With the price low and supply high of dry gas, this makes absolute sense. And i hear (possibly rumors) that the Utica shale formation is very wet. We will see as they are about to commence drilling to the Utica in my area...Beaver County.
Permalink Reply by Chuck Reed on February 14, 2011 at 9:18am

TBR gas is a shot in the arm, not a long life.  money yes, but the key is long life.  The oil that is here and has been written about would give more men a reason to come here, build business and suport long term growth.   If you travel west you will see oil wells all over.  However the wells are more like milk truck stops than pipe lines.  many of the nations oldest oil companies are in bradford, so when oil is produced in the east, it will be very easy to get things going.

Permalink Reply by T Conner on February 6, 2011 at 5:10am

It would not suprise me.  Look at map six in Bradford County, about 10 oil wells. 

http://www.bradfordcountypa.org/Natural-Gas.asp?specifTab=2

Permalink Reply by Chuck Reed on February 14, 2011 at 9:24am

Itis a fact that PA has drilled for oil in Bradford county.  I can't/wont say how but it's fact.  Now in the west you can'd drive  a mile without seeing lower grade oil wells-this is PA...it all started here.  anywho... it's here but many men who know details won't say anything about it.  As to rigs move'n  Ensign is bring'n in more rigs and things will keep on as they have for some time. 

Permalink Reply by Paul Martinelli on February 14, 2011 at 9:28am

they won't say until all the land is leased up at current low rates, IMOP.

 

OIl would be worth more at this point,low in supply, higher in demand....gas is high in supply, lower in demand.

Permalink Reply by Chuck Reed on February 14, 2011 at 11:06am

why would they tell us?  business is business, it's not personal.  In some ways we should be happy they do not tell us. I mean if fast eddie had found out what was up 8 years ago.  Also what keeps political figs in the dark keeps anti's in the dark and that keeps us in operation.

Permalink Reply by hunter777 on February 14, 2011 at 5:19pm

OK, so if there is oil and it is readily available, will local gas wellpads be prime candidates for new drilling for oil? There is plenty of drilling for gas locally near me, and with the pads already prepared and permits in place, it seems they would be a likely place to start exploring.

 

Do the oil and gas companies let the gas play out first and then go after any oil available? Or is it only one or the other?

 

Is oil typically moved via pipeline, and are there any pipelines in Susquehanna County?

Permalink Reply by Chuck Reed on February 14, 2011 at 9:41pm

sure they can use the same pad.  no they won't wait.  Gas is dirt cheep and abundant.  As to transport, Depends on what part of the nation/world you are talking about and I don't know if they have gathering linesin S county....but the amount of lines under the ground and what those lines do is vast. near me refined fuel is moved threw lines.

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