Just curious...

     I am in Liberty township and a few months ago got an offer to buy my royalties for 1500 to 1800 per acre, but they would do a more in-depth look if I was serious which "mite change the numbers" slightly....even tho I am not drilled or receiving any royalties ..talked to a landsman rite b4 I contacted them and he advised caution as there will be "significant" activity in my area in the "near future"....how about it, anybody else get an offer or hear anything or see any activity here in Tioga Co. ?

Views: 138323

Replies to This Discussion

Primary Facility (Facility ID) (Other Id) Status Program [eFacts]

HOUCK 433 10H (819656) (117-21919)
Shippen Township, Tioga Proposed But Never Materialized Oil & Gas

HOUCK 433 1H (722022) (117-20367)
Shippen Township, Tioga Active Oil & Gas

HOUCK 433 26H (802595) (117-21794)
Shippen Township, Tioga Active Oil & Gas

HOUCK 433 28H (802596) (117-21795)
Shippen Township, Tioga Proposed But Never Materialized Oil & Gas

HOUCK 433 9H (819655) (117-21918)
Shippen Township, Tioga Proposed But Never Materialized Oil & Gas

(Only one minor violation, on 26H)

If you look at the DEP data for 2017 and 2018 you'll see that JKLM spudded 27 Potter County Utica wells during that period, while PGE spudded one. Nobody else did anything, not even a completion of a previously drilled well. I would say that it's pretty much all JKLM in Potter County right now.  Thank goodness for JKLM's faith in our area - let's hope they get rewarded for it. 

Shell spudded 17 Utica wells, plus 5 Marcellus. 77 total wells were spudded in Tioga County during that time period by all operators, to all depths.

WOW! what a huge project!  But I have seen other very expensive projects with enormous expectations riding on them,  Go  completely bust. 

Punch up "Snow Cruiser."   I actually saw this huge machine in Geneva, New York when I was a kid.  I never knew what happened to it until a few months ago. My early memory kicked in about what I had witnessed as a young child. Curiousity kicked in and I I punch up the name that it was called. 

Grandad Ladd

Hi Old Timer,

What is the cost of a typical Utica well in Tioga Co.?

I was thinking average 10 million for a 10,000' lateral. If Eclipse is saving HALF of that per well, that is astounding!!

Old Timer,

If I am following your response, then an Eclipse well drilled to a lateral length of ~9000', with the 5 million savings for sand and water applied would run only $2.5 million??

And to further that logic, another producer (JKLM, Shell,  Cabot) drilling an 11,000 lateral with sand and water being trucked would be spending north of $7.5-8.5 million for that well?

Not hard to see why these E&Ps are choosing their drilling sites carefully, especially when prices are depressed. If they could realize an average hedged price of $3/mcf, they still have to produce 3 MILLION MCF in a relatively short time span to realize an acceptable ROI.

Wow! I have a new appreciation of the perils in the NG E&P world.

So Old Timer, what you are saying here is Utica production is less then expect or hope for? Am I reading this right? And if so, how much less?

Granddad Ladd

Royalty checks have been delivered to at least two or more land owners in the Painter Unit. I had previously been asked about these late payments from concerned mineral owners.   Lu and I too are concerned as we have not yet received our check as of 10/9/2018.

We wont starve but winter is coming on and our financial buffer is not as great as other folks.. 

Granddad Ladd

Lu did call today about it. Was told that someone would return her call this day or tomorrow.  Trouble is a visit is schedule for tomorrow.  "Telephone Tag"  is not the best game in town!

Granddad Ladd. 

There is no Headwaters 143 3HU - the two wells they brought on line there back in August 2017 are the 4HU and 5 HU. Each produced 10 to 12,000 mcf/day steadily for the first 6 months. So I don't think they suggest any "fade" going west. Those laterals were only about 5,700' each, by the way. Lingle #21 had a lateral closer to 9,000' long. Nothing wrong with that production. Better than the Lingle on a per 1,000' basis.

Looks like the Headwaters 143 wells were permitted for laterals closer to 7,000' long. The summary I was looking at originally was either wrong, or the wells weren't drilled to the full permitted length. Either way, there's not much separating the 143 wells from the Lingle in terms of production per lateral foot. How much further west we'll get similar results is unclear to everyone at present, with JKLM, Seneca and PGE clearly assuming the play has room to run. But nothing has been proven beyond the Headwaters 143 wells.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service