Posted on 08/04/2002 2:44:42 AM PDT by The Raven
Ya da---ya da---ya da
Leave it to the NY Slime to distort and lie. First of all, the vast majority of the wells produce water that is purer than the water the ranchers drink.
Second, the acquifers the ranchers use for water are above the coal seams and not affected by the production.
Third, the holding tanks and ponds/mini-lakes constructed for the ranchers are used for irrigation, stocked fish and livestock water. Sounds pretty pure to me.
Partly because it has already been violated, the basin does not fall into the ``too wild to drill'' category
Typical extremist swill language designed to create the FALSE impression of massive damage.
The prize is roughly 25 trillion cubic feet of methane gas, a form of natural gas - slightly more than the nation consumes in one year.
Once again we see an ANWR-like distortion. When fully developed, it is estimated that the Powder River methane will be enough gas to provide for all of Califonia's energy needs for twenty years. Like the ANWR distortion, "six months of the nations TOTAL oil needs", instead of saying it would replace Saudi imports of 1 million barrels a day for twenty years.
The nation needs to know that ANWR was only the opening shot in the Enviro-nazis attempts to stop all rational production of the country's energy needs.
Exactly correct. Anybody who has driven from Gillette to Buffalo, KNOWS that this area is as desolate as they come. Gillette to Buffalo takes you right through the heart of the thousands of earth=raping wells they talk about. Taking that route. you will probably not see more than about 50 wells (ouy of 12,000).
The article also does not address how many ranchers have seen this as a windfall monetarily.
For example, the average ranch in that area is at least 2,000 acres. 2000 divided by 80 acre spacing equals 25 wells, times .125 per cent royalty, times $2.00 per mcf times 100 mcf per day average times thirty days equals approximately $18,750 per month for that rancher.
The wells around the Gillette area average close to 500 mcf per day and the total field average is around 175-200 mcf per day, so I have been conservative.
I'd be leary of that stock. I've seen it pop up on "news" when I've looked at the recent news for Williams Energy (WMB). Williams has gone from $0.90 to above $3.00 in the last week or two. Williams (by virtue of buying Barrett Resources), is the number one producer in the Powder River basin coals, along with their 50/50 partner Western Gas Resources.
You're welcome. Being in the business, I get tired of the spin, lies and distortion that we have to battle on a daily basis.
I am leary, believe me. My point was that they apparently have a stake in the peripheral properties to those owned by the major players. I will defer to the opinions of those actually in the oil/gas production business on whether or not that is a good position to be in, OTOH, the potential may exist that makes their current share price quite attractive for the speculators among us.
OTOOH (On the Other Other Hand), The OTC is littered with the remnants of other wildcat operators who were not so successful....
BOBTHENAILER'S reply: Typical extremist swill language designed to create the FALSE impression of massive damage.
Don't confuse 'em with facts, Bob. They (the eco-nut extremists) don't want no stinkin' FACTS.
The Powder River Basin has been subject to exploration and drilling for maybe 50 years.
Still looks like a place where the hand of man has never set foot.
ROFLMAO.. Too true, facts are inconvenient and get in the way of a good crybaby eco-story.
Thanks for bringing the history of the Powder River Basin to light, I should have as well. Deep wells have been drilled there for over 50 years and will probably be drilled for another ten to twenty as well.
Didn't mean to throw cold water on your "potential tasty morsel", but I read a couple of their press releases and they seemed to be a little on the HYPE side. If I could get a legal description of their leasehold it would help in evaluation, but that has not been depicted in the releases.
I play the market a bit as well. I would only be wary on that company because I've been involved in the CBM play there and know that some areas don't have the good coals. Its a huge "semi-blanket" play, you just don't want to be in the "semi" areas of the blanket.
No wonder so many people are confused & don't trust energy producers. The true story doesn't get out often enough.
We ought to support this project AND the ranchers who will benefit from some no-doubt very welcome income. Your informed perspective is appreciated.
True enough, on a national scale. Locally, the Gillette, Buffalo and Sheridan newspapers give at least a balanced approach. Of course, we'll NEVER see that in any national press coverage.
The environmentalists never seem to have the end game figured out. They just want to kill capitalism through environmental policies - but what then? Where are we going? Serfdom, dictatorship? War? Are we all to live like the Amish?
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