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I think the activity we are seeing in most of the state is dry gas activity that will be largely curtailed short term as long as the price of "natural" methane gas is low like it is today. The activity in the Northern Panhandle, on the other hand, is related to the very large amount of "wet" gas to be found in that region. That gas has enormous potential regardless of natural gas prices due to the other products that can be made from the gas. Development in the Wheeling-Mounndsville-New Martinsville region will be ongoing indefinitely for that reason, per reports that I am reading. From Wheeling to New Martinsville, we can expect a huge and continuous boom.
That money will go to many areas too including state government. Just for gas royalties, many people are suddenly very wealthy. I reported earlier that I have a 95 year old uncle who leased his natural gas rights on just 125 acres for 5 years and already has received a payment of more than $600,000. That does not count substantial royalties. And, the land in question is of little use for any other purpose being largely on steep hillsides and so forth. Nobody could have seen this coming. Perviously borderline useless land is now worth a fortune. Ohio County property appraisals are WAY up from just last year alone and the trend is expected to continue. What is under the land is worth a lot more than the land itself. See this link regarding nearby Marshall County:
Can;t find a map handy, but roughly, the NP down to Wetzel/Tyler counties, plus the Ohio counties across the river from those counties and the Pennsylvania counties adjacent... Greene and Washington counties, primarily.
The amount of "wet" gases decreases as you move north and east. Which is why the Weirton-Wheeling-New Martinsville region would be ideal for a cracker (and why Caiman already has a small cracker in Cameron).
Thanks. Keep seeing references to this so-called "wet gas" and wondered if it was restricted to one certain area. Nonetheless, from what I've read, no matter where a cracker facility is located the economic benefits will extend well out from the plant with all the downstream plants. As I always say, development anywhere in West Virginia is good if it's done right, whether it's in my back yard or somebody else's.
Can;t find a map handy, but roughly, the NP down to Wetzel/Tyler counties, plus the Ohio counties across the river from those counties and the Pennsylvania counties adjacent... Greene and Washington counties, primarily.
The amount of "wet" gases decreases as you move north and east. Which is why the Weirton-Wheeling-New Martinsville region would be ideal for a cracker (and why Caiman already has a small cracker in Cameron).
Yes, as you go south there is less gas and it is more expensive. Wheeling has the best deposits in WV. Hopefully it can revive a once strong city.
Imagine if Wheeling had the same kind of economy Morgantown and the EP has. The state could be saved, and the criminals thrown out.
Thanks. Keep seeing references to this so-called "wet gas" and wondered if it was restricted to one certain area. Nonetheless, from what I've read, no matter where a cracker facility is located the economic benefits will extend well out from the plant with all the downstream plants. As I always say, development anywhere in West Virginia is good if it's done right, whether it's in my back yard or somebody else's.
It will have benefits both upstream and downstream. Being located on the Ohio River provides great opportunities for transport of the finished products upstream to Pittsburgh as well as downstream to Cincinnati and Louisville. Towns all along the route will have access to a ready supply of raw materials for plastic manufacturing which is why (my crystal ball) I would also predict a resurgence for Parkersburg and Huntington manufacturing industries in my forecast.
I'm happy...lol we leased our gas rights about 4 years ago and they have yet to drill on our property.... they've basically paid us for nothing... it was only a 5 year lease
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