Utica/Point Pleasant Oil & Gas Drilling- Opportunities and Issues with a Focus on Hydraulic Fracturing William G. Kinney May 23, 2012. Summit Petroleum, Inc. World Energy Demands. Future Energy Demands. Shale – Has driven natural gas prices from $8/ Mcf to $2.50/ Mcf. Oil & Gas in Ohio.
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Summit Petroleum, Inc.
IF we assume 1/3 of volume will be gas and 2/3 is oil…
%R = 1.2 percent – recoverable from the interval
Qt = 1.96 billion barrels equivalent
= 3.75 TCF gas and 1.31 Billion barrels oil
%R = 5 percent - recoverable from the interval
Qt = 8.2 billion barrels equivalent
= 15.7 TCF and 5.5 Billion barrels oil
JOBS AND PERSONAL INCOME—PAGE 23, TABLE 13
Between 2011 and 2015, Ohio’s natural gas and crude oil industry will help create and support more than 204,520 jobs due to the leasing, royalties, exploration, drilling, production and pipeline construction activities for the Utica Shale within Ohio. The industry wages is projected to grow to more than $12 billion in annual salaries and personal income to Ohioans by 2015.
Table 13: Combined Economic Impacts of Spending on Utica Gas Formation
(From Well Exploration and Development, Midstream, Royalty, and Lease Expenditures)
Drilling/ Well Construction
by allowing us to reach oil and gas trapped in rock beds that would not otherwise naturally produce.
Fracing is not like breaking a window…
Think of it as slicing a cake with a knife – the cake parts because of the porosity in the cake. The cake is actually in tension in front of the blade - as the blade pulls the cake parts and then compresses as the knife passes by creating the cut or fracture. Once the knife stops, the cut stops!
All conclusively demonstrate that the frac stays in zone and the environment is protected.
176 Class II wells
Have operated in
Ohio for over 30 years
After a exhaustive study by several agencies and industry professionals it was found that the seismic activity induced by the North Star #3 well in Youngstown was caused as a result of injecting water into a basement (non sedimentary) zone that was faulted and in a stress regime. This was the first well in Ohio to try injection into these deeper, non-sedimentary zones.
As part of new regulation, Injection wells will no longer be permitted through sedimentary rocks.
In pursuing this goal, Gasland treats cavalierly facts both by omitting important ones and getting wrong others
Be part of the solution - rather than part of the problem…
A career in oil and gas requires; a technical background, strong in science and math and a willingness to work hard.
Most of all however, it’s rewarding, exciting, and
William G. Kinney
Summit Petroleum, Inc.
Twinsburg, OH 44087
O: 330 487 5494
C: 440 773 7008