Replies to This Discussion

Permalink Reply by Jesse Drang on November 23, 2015 at 12:51am

There may be some shallow or vertical well drillers looking to lease, but nothing heard about the Utica play in Crawford for a few years ... Range is sitting on a lot if acreage in eastern Crawford County.

I don't believe that acreage is being sold at a premium when O&G rights are included ... I certainly wish it was otherwise.

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Permalink Reply by Joseph-Ohio on November 23, 2015 at 1:35am

Much of Crawford County PA is reported to be in the 'Rich Condensate' zone (as is Ashtabula County OH just to your West).

I understand that Natural Gas Condensate is used as a 'Diluent' to produce 'Dilbit' (Diluted Bitumen) from the viscous Canadian Tar Sands production that is supposed to be sent (to our refineries in LA and TX) via the Keystone XL pipeline when it comes on line.

What if anything beyond this have you heard / read Jesse ?

Keystone has been a hot topic for quite awhile.

I'm still thinking it would spur development in our geography myself.

Others don't make the connection and say not.

What do you think Jesse ?

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Permalink Reply by Joseph-Ohio on November 23, 2015 at 2:42am

http://gomarcellusshale.com/forum/topics/keystone-pipeline-and-marc...

Take the above link and check out the related conversation.

I remain optimistic.

We need the right folks at the helm to see to it that development burgeons.

Best of luck to all of us.

JMHOs

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Permalink Reply by Jack Young on November 23, 2015 at 3:42pm

Things looked bad for Crawford County even when prices were higher. I wouldn't expect any interest in leasing there again until prices get back to at least where they were a couple years ago. Low prices plus marginal geology just aren't very attractive to the gas companies. There's no profit potential apparent in Crawford County right now - too many disappointing wells and nothing very exciting to drill that hasn't been tried already. Wish it wasn't so - we own a good bit of acreage there.

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Permalink Reply by Jesse Drang on November 23, 2015 at 3:57pm

Agreed ... many other opportunities abound in more abundant and serviced areas. Perhaps in a decade or two the need to feed the Shell cracker plant will creep up to western Crawford County for wet gas.

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Permalink Reply by Joseph-Ohio on November 23, 2015 at 10:25pm

Jack / Jesse,

To me Crawford looks good BUT.....it also looks like they don't need the production right now - plenty easier to get and closer to infrastructure in place.

Cherry pickin' the low hanging fruit syndrome is the driver right now seems to me.

Would like to see some changes.

Standing by.

Good luck to all of us.

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Permalink Reply by Jesse Drang on November 24, 2015 at 12:58am

The signing bonus would be nice, but look on the bright side: the prices being paid for oil and gas stinks as of late. It will take some years to sort out.

I note that all the time, calories, and money spent Organizing and signing large blocks of land will be wasted unless leases are extended. Remember all of organizations such as CX? Their work will go "poof" when the leases expire.

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Permalink Reply by Joseph-Ohio on November 24, 2015 at 1:19am

Been reading about how here in Ohio many leases have been used as collateral for huge loans - actually mortgaged.  

Expiring leases would be an evaporation of collateral.

What would be next ?

Fire the banks risk management  / risk accessment team ?

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Permalink Reply by Keith Mauck (Site Publisher) on November 29, 2015 at 12:41pm

Make sure yo join this county to get updates of activity.

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Permalink Reply by Joseph-Ohio on November 29, 2015 at 12:59pm

I'm in Keith.

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Permalink Reply by Jesse Drang on November 29, 2015 at 2:53pm

Thanks, Keith - I joined the Crawford County page.

Joe -

On this Sunday, think about the play in football terms. There is a large swathe of "bench warmers" like us that have good, but not great prospects. There are also a lot of land on the "JV team" that were leased, but later got cut. Then there are the "first stringers" who are leased, drilled, and producing. The latter may be playing a losing season, but at least they are getting paid ... albeit at a lower than expected salary.

Eh, be patient and hope that Shell builds a cracker plant. I don't believe they will build it with only southern prospects in mind.

Jesse

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Permalink Reply by Joseph-Ohio on November 29, 2015 at 3:14pm

Your observations make sense to me Jesse (as they always do).

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