Low gas prices drive drillers to Ohio - The HuntingPA.com Outdoor Community
 
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post #1 of 5 (permalink) Old 07-31-2012, 07:03 PM Thread Starter
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Low gas prices drive drillers to Ohio

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Take Bradford County, Pa., which has more Marcellus Shale wells than anywhere else in the state. Years of explosive growth have earned it a reputation as the natural gas capital of Pennsylvania.

But even as total production continues to rise in the county, state data shows energy companies have drilled fewer and fewer wells over the past six months. In June 2011, 45 new wells, or "spuds," were drilled in Bradford. This June, the county saw only 14.

That drop-off is closely linked to the steep decline in natural gas prices, which fell nearly 50 percent over the same months to $2.46 per million BTUs. Same story in Tioga and Lycoming counties, two Marcellus Shale powerhouses where new spuds have fallen off in recent months.

And then there's Ohio.

The landmen first started sniffing around Columbiana County about a year and a half ago, crowding courthouse parking lots with cars bearing out-of-state plates. In Lisbon, the county seat 35 miles south of Youngstown, officials had to open an office next to the courthouse to accommodate the dozens of deeds researchers cramming into the recorder's office. The drilling rigs soon followed, bringing all the housing and traffic troubles locals love to hate.


Read more: http://www.post-gazette.com/stories/loca.../#ixzz22ETEXYN7
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post #2 of 5 (permalink) Old 08-05-2012, 06:51 PM
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Re: Low gas prices drive drillers to Ohio

Gas prices are down. They have enough wells and no means of delivery. The pipelines are being built.

So they look to Ohio now. The landsmen will work to get blocks of leases set-up there and lock them in for five years or so. Same as what happened here in the beginning. The rush appears to be on in Ohio, in many cases, the first landman in an area can clean up. Once the landman go in - it is a free for all - as we experienced here.

PA isn't done. PA is in a holding pattern so the work done so far can start repaying the costs incurred so far.

Is your position a short term gain - or a long term loss? Separate the issues.
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post #3 of 5 (permalink) Old 08-06-2012, 07:56 PM
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Re: Low gas prices drive drillers to Ohio

http://online.wsj.com/article/APc0d9...ef23883cd.html

<span style="font-weight: bold">PITTSBURGH — The Marcellus Shale is about to become the most productive natural gas field in the United States, according to new data from energy industry analysts and the federal government.

Though serious drilling only began five years ago, the sheer volume of Marcellus production suggests that in some ways there's no going back, even as New York debates whether to allow drilling in its portion of the shale, which also lies under large parts of Pennsylvania, West Virginia and Ohio.

The top spot for the Marcellus "doesn't surprise me," said Jay Apt, a professor of technology at Carnegie Mellon University. "But will it lead to industries that spring up to use that gas?" he asked, adding that much of the bounty could also end up being shipped to Canada, the Gulf Coast or overseas


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post #4 of 5 (permalink) Old 08-06-2012, 11:51 PM
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Re: Low gas prices drive drillers to Ohio

This is great news for the PA economy. I say ship it over seas while we create infrastructer and ability to use it here. We import the oil...lets help our trade deficit by exporting the gas until this country has the ability to use it.
Exporting will create a market that will help support infrstructer being built in this country, it will also create a lot of jobs..........

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post #5 of 5 (permalink) Old 08-11-2012, 04:32 AM
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Re: Low gas prices drive drillers to Ohio

I dont know about everywhere, but the companies we have been working with went to Ohio, poked a bunch of dry holes, and are coming back to Pa now to continue their work here......;.

"Most people miss opportunity because it comes dressed in overalls, and looks like hard work"
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