Looks like fracking passed in NC...

6BangBronk

6BangBronk

Well-Known Member
Joined
Jul 15, 2005
Location
Durham
Although it may be years to come since no infrastructure / piping / investment money right now is inplace. BUT…

I know we had a lengthy discussion while hijacking a thread a while back. I found an interesting article that gives a whole new insight...

I didn’t know a dude named J. Daniel Butler is the latest son of inheritance. But his family bought up most of the mineral rights in the 1930’s when they shut down all the mines due to explosions when they were mining coal and gas in the heart of where they want to explore. Although the land is owned by 12+ owners, this 70 year old dude will get the money (or his next of kin).

Anyways, after more research, looks like Mr. Butler has a capped test well head on his inherited land about a mile deep that is pressurized from natural gas ready to tap… His grandparents put it in place and knew this all along. It's been a well kept secret with not much leaking out until lately. But he has viles of oil he pulled from the ground when probing back in the day. Said it smelt a lot like axle grease. We know what that smells like. :eek:

Get ready for a ride in the next few years folks! If you hate your job... This may be opportunity for an actual retirement!

I read a few articles today but this was an awesome article that explains a lot. I've still got to go back and re-read later to soak some more in.

http://www.businessnc.com/articles/2011-01/playing-the-shale-game-category/
 
I'm excited for you enthusiasm! The growth in NC continues to improve and strengthen the local economies.

Fracking will eventually come to NC, but I think it will be a while before it makes a big impact on the NC jobs report. I think the article you posted is actually from 2011 but it was TL/DR.

So facts about the profitability of fracking:

Oil below $60 a barrel is not profitable for fracking.
above $65 is...

I think it will take more like $90+ a barrel before Mr. Butler will:
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So with the glutton of supply and the unions chomping at the bit at established fracking fields to get back to work, I think it will take a moment for those jobs and sites to fully "trickle down" to us.

The big oil companies can handle the drop in price for extended periods but the exploratory guys will feel the biggest hurt.
 
Going to be some fun down here for the county. A lot of deeds don't show that the mineral rights were sold. County shows me owning my rights on my 13 acres. Will see. Either I make money on the gas or by renting out my two rentals for stupid amounts of money.
 
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