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  • sandonthebeach47 sandonthebeach47 Nov 26, 2012 9:22 AM Flag

    OT - Utica Rig Count DOUBLES YTY

    Yes that is correct BUT what you wrote is not correct.

    This is what you always seem to do. You find some info in the news that by itself is correct and then you use that to draw incorrect conclusions giving it the appearance of credibility since the news article is right there in the news....


    So herre is the news:

    " The growth in active oil-directed rigs has more than offset the declines in active gas-directed rigs. According to Baker Hughes, about 86%, or 24 out of 28 active rigs in the Utica play, were directed toward drilling for shale oil during the last week in October, whereas a year ago only 15% of rigs were targeting shale oil in Utica.

    The 28 active rigs in that area represent 2% of all active rigs in the United States, according to data from the Baker Hughes..."

    Not only is the Marcellus not growing...and the Bakken is up around 187 rigs...the size of the number of rigs in the Utica is TINY compared to the Bakken.

    So, quantify it all for us in economic terms and Compare the Utica to The Bakken.....and you will see again just how skewed your post is and that it again tells only part of the story.

    On this comment:
    "SO FAR AHEAD of the Bakken rig increase it doesn't even compare."

    That is actually a correct comment the way you wrote it BUT, it is also deceptive since the production growth in ND has been breaking records each month and growing steadily while the rig count peaked at around 215-ish and then fell to around 190-ish in ND......while the Marcellus fell off drastically, and while the Utica gained rigs during the last year. So utica went from about 12 rigs to about 24 It is still kinda in its infancy compared to the Bakken....right?

    translate that into DOLLARS based on PRODUCTION INCREASES for each and you will see a very different picture than your comment portrays.

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    • Good morning Sand,

      Utica is TINY compared to the Bakken.

      I would add the Utica so far has been a big disappointment as far less oil than hoped. Given the discount of ngls to oil and the economic sensitivity with no way to effectively hedge Utica is no longer a hot area.

      Maybe some one will find real whole oil and turn it around. But it was a huge disappointment for Chesapeake which hoped to get oily there.

      The relatively small rig count is very likely to fall if some one does not find oil. Just as drilling activity in M is slowing down. Falling train loadings of fracturing sand and such to M confirm the decline.

    • I'm just doing what you do - distort the facts.

      • 2 Replies to rlp2451
      • And, I might add, I did it deliberately in this post...I set the trap, and you took the bait.

      • On:
        "I'm just doing what you do - distort the facts."

        That is an interesting comment.

        So, lets clear it up and see just what you did again.

        I do not distort in my posts and I usually also include where the information came from and also use quotation marks to indicate that it was taken from some article or presentation....go look at all or any of my posts.

        You do distort and you are a master at it, and you do it in most of your posts
        .....EVERYONE who has an interest in seeing this should read both types of posts and just compare them to see the difference..

        then re-read this comment that you made:

        "I'm just doing what you do - distort the facts."

        Which is another good example of how you distort with most of your postsBECAUSE:
        Here you try to tie me into doing what it is that YOU DO (distort in your posts) and that I do not do, by merely making that deceptive and incorrect claim....and then you just hope that someone just believes your incorrect claim., if it is your goal to keep acting like the board clown with misleading posts, the incorrect posts will will be pointed out as you persist.

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