Anybody who has been on a golf course more than once has had the experience of hitting a really bad shot and getting a really, really good result. Think 40 yards off the green with a bunker between you and the pin, you skull the wedge, it hits the lip of the trap where a sprinkler head lives, which pops the ball up and onto the green where it rolls to within 2 inches for a tap in par.
Sometimes, oil and gas is like that.
Take Idaho, for example. Based on our data there were 180 wells in Idaho. All of them were either dry holes or abandoned locations.
However, there WERE several wells with gas shows… and some of those were in Payette Co.
So , these were the skulled pitches – shots with potential that just didn’t quite come off as planned. Some of these wells had, well, DEFINITE shows…
Enter the pros from Dover (remember MASH??). Or actually, from Canada. Card-carrying WWA (Wildcatters With Attitude) members Bridge Resources Corp and Paramax Resources Ltd. are on track to begin commercial delivery of gas from five wells in Payette Co. at an estimated combined system rate of 5+ MMCFD from a minimum development footprint of 5,000 acres.
Given that their (Bridge, Paramax) combined leasehold is 100,000 acres, maybe proving up only 5,000 acres (so far) wasn’t a big enough plum to defend their public valuations as shown here (chart is for Bridge).
But with a mean estimate of gas in place of 137 BCF (with associated condensate) you’d think that they’d get a free drop and put at least a par on the scorecard.
So, remember those that went before you. They were often closer to heaven than you think.
Upstream oil and gas has a huge, looming demographic problem. Simply put, the median age for upstream professionals is near 50 years old, with over half the workers in the industry being 40 years old or more. With worldwide demand inexorably increasing, and too few graduates over the past decade to fill the positions being left by the retiring “old guys”, we are facing a talent squeeze.
To address this, Drillinginfo has started an academic outreach program with selected top tier universities and best-of-breed high school programs (through the IPAA). The goal of this outreach is to provide access to Drillinginfo information and tools to these universities. We hope that by being exposed to all the facets of the business through Drillinginfo, students will be able to climb the upstream learning curve much faster than they otherwise could. As result, it’s our belief that we can accelerate their readiness to fill the large number of slots the” elders” are leaving behind.
If you’d like to learn more or work with us, please contact Drillinginfo Founder Mark Nibbelink at firstname.lastname@example.org or (512) 519-5511.
Nearly 80% of New York’s Black river wells have made 50,000 BOE or better, and nearly half have done 200K BOE or better.Ten percent are credited with over 1 MMBOE. The majority of the better producers are concentrated in NW Chemung and SE Steuben counties, but if we see strength in gas prices look for the Black River to be high on someone’s hit parade!!…..To see detail on a well, hover your cursor over the dot. Try the Free Trial to create your own maps and to click down for more details, such as play information, related filings, production data, and evaluation tools.
Hats off to XTO for permitting a 3300′ test in Geneva Co, AL (far SE Alabama) on trend with, ahem, not much that we can see. Could be an eastern extension of shaley facies in the Conecuh embayment, but there’s so little well control and only 3 reasonably close by 2D seismic lines that all we can do is flat out guess. But good luck to them for drilling in a galaxy far, far away… could get interesting….
We’ve mapped Ohio permits since 1/1/2009, using %shale as a filter in the formation name and filtering out any multiple target formation objectives. Results include permit target formations named Marcellus, Devonian,and Ohio shale. The permits along the southern shore of Lake Erie are Ohio shale permits at shallow depths <3500′. The belt of permits along the W VA border are Devonian/Marcellus shale permits at slightly deeper depth. Can the Marcellus return great ROI at these shallow depths? Stay tuned…..
Although Governor Butch Otter of Idaho was quoted as saying “We hit a hell of a big natural gas well”, operator Bridge Resources (JV partner Paramex Resources Ltd.–both out of Calgary) was a bit more restrained by saying “We have had some encouragement in Idaho…” According to wire service reports the JV will expand drilling and seismic work (which led to discoveries) over the 100,000 acre position they hold. As well they should, given that the M.L. investments 1-10 in Payette county flowed at a rate of 4.2 MMCFD from Pliocene lacustrine reservoirs. The map on the right shows all wells in Idaho that reported show, including at least two in Payette county that had either strong or considerable” gas flow/shows… Ah, wildcatting, an intellectual addiction if there ever was one.