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It’s “Stupid Is As Stupid Does” on Northeast Gas Prices

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JEB

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Re: It’s “Stupid Is As Stupid Does” on Northeast Gas Prices
« Reply #150 on: January 24, 2018, 09:04:18 AM »
Shin said a few pages back in this thread that the western Bradford county wells were sub-par and WJ said Wyalusing was the glory hole. Let's see what the production say about it.
I took five random well pads from each area and what I was looking for were wells drilled by CHK and each well had to have a production history of at least 2000 days. I used the information listed for the first well on each pad the meet that requirement. I took the first well pad as close to Troy as I could get and randomly took the next four well pads going East. I then took the first well pad by Cargill and then randomly took the next four well pads going West.This is the average of the 5 well pads from each area.

Troy wells average days of production 2286.   Wells averaged 2.795 MCF per day.   Wells averaged last report 1.642 MCF per day.

Wyalusing wells average days of production 2093 days.  Wells averaged 2.727 MCF per day.   Wells averaged last report 1.579 MCF per day.

What will be interesting is to take another look in 5 years. At the present time, I don't see much difference from one area to the other.
Did you also factor in length of lateral bore or if any were "toe" fracked to hold and satisfy lease terms or how many companies had an interest in each well and reported production on sales? Pretty broad statement without factoring in all the other variables involved, JMO

I told you exactly what I did and the wells were all drilled by CHK in the same time frame. So they should all have the same partners reporting production results. And as far as a humps pimple goes that must be a very small pimple because take a look at the wells just over the hill from Granville in Leroy.
Those wells are as good as the wells in the New Albany area.
Well we can agree to disagree and time will tell, i just pointed out variables that are in the equation you may have left out, take it any way you want.

What I think is that the wells in both areas are holding up very well. Those 10 wells that I looked at have been in production for about six years and to still be producing that good is pretty remarkable. Some geologist thought when the Marcellus drilling first started the wells would have an average lifespan of about 8 years. As far as which area has the best wells or will have I really don't care. I'm just glad I'm not in some areas where the wells are very low producing and are being plugged. The only complaint that I have is the deduction issue and if they don't exceed 25% of my check I'm happy with that.

I got to thinking about what those geologists said and they were somewhat right about that because in some areas the wells didn't even make it 8 years before they went dry or became very low producers.


« Last Edit: January 24, 2018, 09:55:28 AM by JEB »