but oil and gas up again
Posted by jordanreed on :
seems to be bouncin a lttle
Posted by blacklab669 on :
Wed. is going to be a big day for the ong secters.12:30 ong forcast coming out early because of the shortened week.Sold monday bought back at the close today,get in early wed. but due your own homework before you invest...
Posted by blacklab669 on :
Inventory on oil was pretty much what they thought,ng inventory will be out in about 1 hour and you can bet inventory is down and demand is up...
Posted by blacklab669 on :
And it is down,going to ride ng all winter,record cold temps forcasted...
Posted by BeginnersLuck on :
freezing up here..but also many people are refusing to turn on the heat..pellet stove manufacutres may also be a good play this winter
Posted by MovingUp on :
Though it's been in production for nearly 25 years, a huge natural gas field in Texas is now drawing the attention of major energy companies – but only after independent operations proved its worth.
Fort Worth, Texas, is built on top the Barnett Shale natural gas field, a field so vast that the U.S. Geological Service estimates it contains some 26 trillion cubic feet of yet-to-be-discovered natural gas. Estimates are that as much as 160 billion cubic feet of natural gas are in place per square mile in the Barnett Shale formation. The Barnett Shale field is the largest gas-producing field in Texas, covering some 15 counties in the northern part of the state. The core area comprises about 120,000 net acres that stretch north from Fort Worth to the western outskirts of Denton.
The field was undiscovered until 1981 when independent Mitchell Energy drilled the first well. The largest operator in the Barnett Shale field is Devon Energy Corporation, one of America's largest and most successful independent oil and natural gas companies, headquartered in Oklahoma City. In January 2002, Devon completed the acquisition of the field's pioneer, Mitchell Energy. Today, Devon operates more than 1,700 wells into the Barnett Shale core area, wells that today produce more than 550 million cubic feet of natural gas per day.
According to Brian Engel, manager of public affairs for Devon, the company's success in large part derives from developing a light sand, water fracturing technology that permits efficient natural gas exploration from the field.
"The Barnett Shale formation," says Mr. Engel, "has rightfully emerged as the largest natural gas field in Texas and one of the most important natural gas fields in the nation."
Now that the independents have proven Barnett Shale to be hugely productive, major companies including ExxonMobil, ChevronTexaco, ConocoPhillips, BP and Shell have moved in to buy up production rights.
"It makes sense," explained Tom Biracree, senior financial editor with John S. Herold Inc., an energy research and investment valuation firm based in Norwalk, Conn. "The industry is seeing a decided trend moving toward the development of on-shore natural gas resources in the continental U.S."
Why? "It's an economic market play," explained Biracree. "With the price of natural gas at $10 per thousand cubic feet, not $2, it becomes very attractive for the major industry players to focus more attention on exploring for natural gas right here at home."
Biracree continued, "Developing natural gas resources in the continental U.S. also permits the major companies to avoid the political risk of working overseas. The rules of the game don't change here like they can when you're dealing with a foreign government."
Biracree noted that the industry is learning today how to explore deeper and extract more natural gas profitably from what, in years past, were considered riskier enterprises.
"We have growing expertise in the technologies which make extraction of natural gas from shale profitable," said Biracree. "Besides, today the demand for natural gas is growing in the United States and the market has established very attractive prices. It's the same principle why Wal-Mart trucks in snow shovels in a snow storm." In other words, opportunities like Barnett Shale are market-driven.
Technically, the U.S. Geological Survey describes the Barnet Shale formation as the "Greater Newark East Frac-Barrier Continuous Barnett Shale Gas Assessment Unit." The rock is identified as a Mississippian formation, dating back some 330 million years. Geologists describe the formation as "source rock" or "reservoir rock," assuming that the organic material in the metamorphic shale has morphed into the "kerogen" traditionally assumed as needed to produce natural gas.
Barnett Shale is deeply fractured, with fissures that tended to be sealed by calcium carbonate. The field went undiscovered until Mitchell Energy experimented with employing large gel fracture methods to open the wells to natural gas. The full potential of the field waited for the light sand, water fracture technology developed by Devon Energy Corporation, a technology that fractures the shale so the natural gas can be extracted. The Barnett Shale formation lies at a depth of between 1 to 2 miles below the surface, with the shale running some 400 to 500 feet thick.
Commented Jerome Corsi, Ph.D., co-author of "Black Gold Stranglehold: The Myth of Scarcity and the Politics of Oil": "With the field only discovered in 1981, the Barnett Shale natural gas resources were not known when Shell Oil geologist M. King Hubbert started worrying about 'peak production.' With natural gas resources this abundant, we can be reasonably assured there remains a large quantity of natural gas to be extracted at home, right on the continental U.S. That abundance should be apparent even to those who want to maintain the doctrinaire position that the Barnett Shale natural gas is organic in nature."
Posted by special ed on :
look at the 52 weekly....20 and 50day sma's starting to creep up on the 200. I think we're gonna get another run here within the next month. I'm loading up on the small dips and riding out the sideways trading till then.
Posted by farmgirl on :
Has anyone read the posting labeled Phantom 1 on Hot Stocks for all? Is thi s article for real?
Posted by BeginnersLuck on :
It seems to be legit..it's comming off of the oil america website
Posted by imakmony2005 on :
NG, UP 20% FRIDAY, ITS GETTING COLD, DAM MY BILL IS UP 35 BUCKS FROM LAST YEAR.
Posted by thelimeyone on :
fg & bl,don't you keep up with the news?.how are you going to make any money?.check out the IHUB & RB boards. also there is an official & unofficial site,both of which will give you pictures galore of the phantom.p.s.they call it the phantom 'cause that's what the paid bashers implied it was.
Posted by imakmony2005 on :
brake out coming IMHO
Posted by NaturalResources on :
quote:Originally posted by thelimeyone: fg & bl,don't you keep up with the news?.how are you going to make any money?.check out the IHUB & RB boards. also there is an official & unofficial site,both of which will give you pictures galore of the phantom.p.s.they call it the phantom 'cause that's what the paid bashers implied it was.
TheLimeyOne,
Do you happen to have the URL of the unofficial AMEP website? Thanks in advance.
NR.
Posted by NaturalResources on :
"Barnett Shale is deeply fractured, with fissures that tended to be sealed by calcium carbonate. The field went undiscovered until Mitchell Energy experimented with employing large gel fracture methods to open the wells to natural gas. The full potential of the field waited for the light sand, water fracture technology developed by Devon Energy Corporation, a technology that fractures the shale so the natural gas can be extracted."
MovingUp,
Great article. I thought I might mention that AMEP's "NASH WELL" on the Palo Pinto Twelve Well Program is a re-completion of an old Mitchell Energy well.
Posted by NaturalResources on :
Questsolver,
I understand you have made contact in the past with Charles Bitters. Is it at all possible if/when you speak to him next to find out if the permits for the upcoming 3,100 foot developmental well have been submitted and approved by the Texas RRC yet?
Thanks,
NR.
Posted by thelimeyone on :
NR,link is at INVESTORSHUB(AMEP)post#3924.I am not computer savvy.
Posted by bmaxingout on :
cold and snowy here looks like amep is heating up it is going to be a very good winter for making money.
been on vacation for the past month its nice to see amep green lets make money folks good luck all bmax,
Posted by imakmony2005 on :
green today.
Posted by special ed on :
quote:Originally posted by special ed: look at the 52 weekly....20 and 50day sma's starting to creep up on the 200. I think we're gonna get another run here within the next month. I'm loading up on the small dips and riding out the sideways trading till then.
She's climbing up.....slow and steady.
Posted by special ed on :
Already starting to get cold here in beautiful san francisco. Getting primed for a run especially since the new rig is completed.
Posted by imakmony2005 on :
its coming.
Posted by iwearpro on :
this morning Al-quida said they will target muslim ran oil suppliers that accounts for 20% of the world totals so oil is on its way back up! Good for all oil stocks right now!
Posted by special ed on :
Look how much the PPS went up for PTGC who recently found NG at one of their wells on my thread. Imagine where AMEP can be now that it has their own drilling rig to tap their potential NG wells. Do your DD.
Posted by MovingUp on :
I saw on the news last night where they have re-evaluated the future cost of natural gas and saw that it will not be as high as they originally thought. Holding positions in both AMEP and PTGC.
Posted by special ed on :
quote:Originally posted by MovingUp: I saw on the news last night where they have re-evaluated the future cost of natural gas and saw that it will not be as high as they originally thought. Holding positions in both AMEP and PTGC.
Maybe....but I'll be happy if AMEP can at least trade at a 1/4 of what PTGC is doing. With their resources, can't see why and unfortunately, my energy bill isn't reflecting this re-evaluation but it would be nice.
Posted by buckstalker on :
NG at all time highs...keep an eye open, been creeping up slowly.
Posted by BeginnersLuck on :
when do you think some new news is gonna be comming out regarding the well?
Posted by HurricaneBob on :
somebody had a fat finger today
Posted by BuyTex on :
Hey--AMEP traders, thought you might like this: came through Bridgeport today (basically north of Mineral Wells) and saw a street re-named to "Barnett Shale."
guess that town likes it...
Posted by BuyTex on :
quote:Originally posted by BuyTex: Hey--AMEP traders, thought you might like this: came through Bridgeport today (basically north of Mineral Wells) and saw a street re-named to "Barnett Shale."
guess that town likes it...
also, a church here in town is allowing a gas/oil play that runs horizontal under a friend's house...they're about to sign to a contract for a few hundred a month because the access drill goes beneath their property.
Posted by jordanreed on :
looking for a swing here
Posted by buckstalker on :
Anyone heard anything from this company lately...looking for a bounce here soon...
Posted by HurricaneBob on :
Big buys at EOD. News coming. Merry Christmas to all.
Posted by BeginnersLuck on :
What's going on with this guy...just keeps on wanna to go down
Posted by Lucas Brachish on :
I'm in the red on this... What does everyone think the bottom is? I reckon it'll go back up in 2006, but I'm trying to decide how far down I want to ride this, or if I should sell in and get back in later... or just buy more now, if we're at bottom... seems like it could go lower, though...
Posted by HurricaneBob on :
Last time it winded down, it bottomed at 4 on a Friday, and by the end of the following week it was back bumping 8. At this price, I would buy more, not sell. The hype has dropped, due to lack of patience, but the gas is still coming. This is a long term play anyway, not everything happens overnight. If anyone hears from Quest, I have a couple of questions for him. Merry Christmas to all.
Posted by special ed on :
after seeing what cwpc did, I'm socking this away in my oil-n-gas portfolio which are all long term holds. I can wait for this one to hit.
Posted by Slippery Wing on :
Proco, the operator of AMEP's wells filed application for drilling permit this morning.
Permit was approved. Lets drill!!!
Posted by aBirdsOfFire on :
quote:Originally posted by special ed: after seeing what cwpc did, I'm socking this away in my oil-n-gas portfolio which are all long term holds. I can wait for this one to hit.
What did cwpc do? That is stock symbol of CanWest.
Posted by HurricaneBob on :
cwpc, with no news in the month of July (2005), a stock alert on Aug. 10, and news on the 18th, began it's Quest from a half-dollar to a three dollar stock in two months, now residing at 2.50 up .30 today - it took aggresive drilling, doubled sales, and further acquisitions - the same old things we're about to go thru
Posted by HurricaneBob on :
had to put the shades on now that I am back contracting in Florida
Posted by BeginnersLuck on :
Sounds nice...getting rather bored though with the action and the red portfolio.
Posted by blacklab669 on :
AMEP is worth alot more than its trading for.I cant believe its so quiet,we need the pr on how the test holes went and when were going to move to the deep wells.Hope we can get all the bugs worked out,and what about the partner subscriptions?Let the investers know...Lets see what the new year will bring very flat everywhere with low volume...Great buy...
Posted by NaturalResources on :
Slippery Wing,
Based on the last PR, the site is prepared and the rig was in the process of being moved to the site, so now with the permit submitted and approved there should be no delay in drilling.
I am no expert, but based on my experience in this field and barring any unforeseen issues, it should be no more than a week before the well is completed.
I'm loading up now because this baby should move next week. GLTA and GO AMEP!!!
[ December 29, 2005, 18:50: Message edited by: NaturalResources ]
Posted by HurricaneBob on :
Since no news at the end of Nov., we have still had 8 alerts on pinksheet news.
Posted by BeginnersLuck on :
You know when the next 10Q is comming out?
Posted by aBirdsOfFire on :
quote:Originally posted by NaturalResources: Slippery Wing,
Based on the last PR, the site is prepared and the rig was in the process of being moved to the site, so now with the permit submitted and approved there should be no delay in drilling.
I am no expert, but based on my experience in this field and barring any unforeseen issues, it should be no more than a week before the well is completed.
I'm loading up now because this baby should move next week. GLTA and GO AMEP!!!
Are you talking about well#8? If you are, the depth of this well is suppose to be 4999. I guess that is in feet. I am no expert either, but that is almost a mile down. Try 5 or 6 months if they don't hit rock, break a drill bit or have a blow out. If they don't have any of these problems and drilling operations is 24/7 for 5 to 6 months -- its possible. Someone with drilling experience can butt in anytime.
Posted by NaturalResources on :
quote:Originally posted by aBirdsOfFire: Are you talking about well#8? If you are, the depth of this well is suppose to be 4999. I guess that is in feet. I am no expert either, but that is almost a mile down. Try 5 or 6 months if they don't hit rock, break a drill bit or have a blow out. If they don't have any of these problems and drilling operations is 24/7 for 5 to 6 months -- its possible. Someone with drilling experience can butt in anytime.
Yes I am referring to well #8. Wells of ~5000 depth are typical for the company I work for. I am fairly certain turn around time from site-prepared location to TD'ed and frac'd well is ~1 week.
If you are referring to total time from proposed a well on paper to a well online and producing gas into a sales line, then 5-6 months is about right.
Also, the permitted depth is 4999, but that doesn't necessarily mean TD will be 5000'. If I remember correctly, the last PR stated TD for this well would be ~3100'.
I'll talk to some co-workers tomorrow and post a follow up.
Posted by aBirdsOfFire on :
quote:Originally posted by NaturalResources:
quote:Originally posted by aBirdsOfFire: Are you talking about well#8? If you are, the depth of this well is suppose to be 4999. I guess that is in feet. I am no expert either, but that is almost a mile down. Try 5 or 6 months if they don't hit rock, break a drill bit or have a blow out. If they don't have any of these problems and drilling operations is 24/7 for 5 to 6 months -- its possible. Someone with drilling experience can butt in anytime.
Yes I am referring to well #8. Wells of ~5000 depth are typical for the company I work for. I am fairly certain turn around time from site-prepared location to TD'ed and frac'd well is ~1 week.
If you are referring to total time from proposed a well on paper to a well online and producing gas into a sales line, then 5-6 months is about right.
Also, the permitted depth is 4999, but that doesn't necessarily mean TD will be 5000'. If I remember correctly, the last PR stated TD for this well would be ~3100'.
I'll talk to some co-workers tomorrow and post a follow up.
Yes I was talking about the initial seismic data, drilling, capping, determining if the well is a commercial well (testing to determine the pressure), sales line (via trucks, oil line, etc.). But again, I am no expert -- only what I have read in books.
Posted by aBirdsOfFire on :
quote:Originally posted by aBirdsOfFire: Yes I was talking about the initial seismic data, drilling, capping, determining if the well is a commercial well (testing to determine the pressure), sales line (via trucks, oil line, etc.). But again, I am no expert -- only what I have read in books. [/QB]
Also there is a period when the well is "tight." I don't know what this mean entirely. But, I think it means they don't want anyone to know the results until a specified time. Why they call it "tight" --I don't know.
Posted by NaturalResources on :
quote: Originally posted by aBirdsOfFire: Also there is a period when the well is "tight." I don't know what this mean entirely. But, I think it means they don't want anyone to know the results until a specified time. Why they call it "tight" --I don't know.
I think they call it a "tight" hole because they are being "tight-lipped" about the results of the well. I'm not sure if every well goes through period where it is a "tight" hole but am pretty sure ALL "wildcat" wells are "tight" holes.
Posted by farmgirl on :
Well today is my birthday and all I want is a nice spike in this stock.
Posted by HurricaneBob on :
Happy Birthday Farmgirl! Maybe not today, but I assure you, your birthday wish will be granted, and sooner than you think.
Posted by HurricaneBob on :
If I were buying you a birthday gift, this is what I would get you. I love this game (king oil), used to play it as a kid all the time.