A little energy from home......Frack This!

[JustRalph]

http://www.dispatch.com/content/stories/business/2011/09/28/chesapeake-reports-utica-gas-results.html

Chesapeake Energy: First wells drilled in Utica shale are 'very strong'

Chesapeake Energy is reporting substantial output of oil and gas from four of its wells in the Utica shale, the first announcement of its type related to this largely untapped resource that covers much of Ohio.

The greatest output was at a well in Harrison County, in eastern Ohio, which is yielding daily averages of 9.5 million cubic feet of natural gas and 1,425 barrels of natural-gas and oil liquids.

Aubrey McClendon, Chesapeake’s CEO, said in a statement this morning that he was pleased to announce “very strong initial drilling results.”

The company also drilled two wells in Carroll County, also in eastern Ohio. The first is producing an average of 3.1 million cubic feet of natural gas and 1,015 barrels of natural-gas and oil liquids. The second is producing 3.8 million cubic feet of gas and 980 barrels.

more at the link

[ceejay]

Excellent. I hope that you own some mineral rights!

[skate]

OH oh oh ...it is soooo unbelievable...hey we got shale shale and more shale.

i took a little survey on the Green Basin Shale area, owned 80% by the feds, about five years back when oil was around $50/$60, easy for the USA to pull about $80 Trillion from the find alone.

debt is Not the Problemo...now, go forth and find the problemo.:cool:

[highnote]

My home county is Columbiana County, Ohio... right next to Carroll County. Many overnight millionaires leasing their land for $2,000-$4,000 per acre plus 15% royalty.

However, here is a contrarian view from Casey Research:

http://www.caseyresearch.com/cdd/shale-gas-it-really-all

Shale Gas – It Ain’t Everything They Said It Would Be
By the Casey Research Energy Team

A new assessment by the United States Geological Survey (USGS) has slashed the estimated volumes of recoverable natural gas resources in the now-famous Marcellus Shale Basin, putting yet another damper on the concept that America can fuel its future with domestic gas.


You can read the whole article at the link. Casey is conservative libertarian -- definitely not liberal. They do a lot of research in the energy sector.

[Robert Goren]

When they start producing cars that run on natural gas in mass, I'll get interested.

[chickenhead]

When they start producing cars that run on natural gas in mass, I'll get interested.

They are easy to build and not expensive. For some reason tho the natural gas lobby sucks balls at buying politicians.

[Boris]

My home county is Columbiana County, Ohio... right next to Carroll County. Many overnight millionaires leasing their land for $2,000-$4,000 per acre plus 15% royalty.

15% is way low vs. what leases go for in Texas. Maybe there is a regional reason why that is. If not, they're getting hosed. 25% is more common with the same lease dollar amounts.

[PaceAdvantage]

They are easy to build and not expensive. For some reason tho the natural gas lobby sucks balls at buying politicians.Maybe the natural gas lobby has been bought by the Big Oil lobby? :eek:

[Robert Goren]

Maybe the natural gas lobby has been bought by the Big Oil lobby? :eek:
There may be some truth there as big oil has recently bought some natural gas companies.