we think, one of the best wells in the utica.t's what the mid stream players tell us. we'll drill our next one in about a month. we won't have results until the fall. so far we've been ecstatic how well that oil did. it was still doing well over 113 days. it's above the oil type curve we expected. we are getting excellent prices in ohio, something like 7% or 93% nymex. with that income stream, that could be really big play. the niobrara is a great play. might be 20% lower internal rate of return than the utica. >> if you can tell us what the actual stuff that is coming out of the ground is. you've got a cap but what it will be and where it's going and what it's made into? that will make it come alive for people trying to understand the story. >> in the utica, there are different regions. some produce nothing but dry gas, some make wet gas with natural gas liquids. where we are primarily makes condesate. it almost looks like water. it's extremely light, volatile. the refiners like it because they can blend it with heavier crudes.

gulfport is a utica play and probably have the best acreage in that shale and are producing at greatulfport is one of our favorite names. >> all right. guys, thank you very much. mike and art, you guys have a great holiday weekend, okay. we'll see you on the other side. >> why don't we take a quick look at market before we go. we're backing up against records here, right? >> setting up for our best day in more than a month, know. may for the most part has been a pretty big sideways month, tightest range for stocks in the month of may since 1987. today a better than expected new home sales report, some of the home building stocks and that's the picture as most people are heading out and getting to wherever they are going. >> everybody travel safe, have a great long weekend. see you tuesday. >> here at the new york stock exchange, i'm bill griffith. this is kelly real size. as we head into the long memorial day weekend where we could finish in all-time high territory for the s&p 500. we're there now. >> that's right. so the trading high was just above the 1900 mark.

utica, albany, those areas. and they're really doing a great job at commercializing their research. taking the good research and actually growing a business out of it, putting it to market and growing jobs and making money. and the state has certainly been helpful in that regard. and so, you know, i look at these different studies, and sometimes i wonder what -- they seem to be asking different questions, perhaps, although they're in the same ballpark. and for me it comes down to my own experience, you know, making sure you have that human capital, making sure you have a good plan, making sure you have support for that plan from the state and others. you know, some incentives, i think, have proven to be very helpful. liz: where do you stand on relocating to a place where they say in the surveys that it's the best atmosphere for jobs; austin, texas, madison, wisconsin, houston, supposedly, jacksonville, florida, columbus, ohio. at this point i would love to believe that you could start a business anywhere in america. >> well, and people have started businesses everywhere in america,

utica in ohio. marcellus in pennsylvania. they are proving far more bountiful than we imagined two years ago. some of that comes from improved drilling. conventionally drilled well costs $2.5 million a pop. the new fractured wells are about $7.5 million each. the amount of oil produced by horizontal drilling is far in excess of what many thought possible and the completion in the productivity of a well over time is slower than expected. so a 7.5 million dollar investment in a horizontal well is yielding on average an astonishing $8.4 million cash flow payback in the first year according to the expert in the field. when the biggest problem for the companies is it doesn't make sense to pump all the oil or natural gas out of the ground that they can because there is a shortage of pipeline space to get it to the refiners you know this move could last longer than people expect. many oil companies are butting up staggering rates of production growth. 20, 30, 40% increases. particularly from those in the eagleford shale and the perm

know it says gulfport that's like the gulf of mexico, but this is a company that's relying on the uticale in ohio. a play that showed incredible inconsistency and literally from county to county and gulfport lowered the forecast by 30% and that's dreadful plus this company is natural gas and natural gas derivatives and they want oil, but remember when somebody misses numbers there's no price that's too low for these momentum hounds to sell just like there's no price too high for them to buy. so the bottom line is, there's always a bull market and growth somewhere and right now it's in the eagleford, permean and bocket and it couldn't happen to a better bunch of companies. i want to go to tina in connecticut. tina! >> hello. hello. >> i'm a little nervous, but i'm actual willy calling about halliburton which is a politically charged company, but i was very fortunate to buy it in july in the 40s. i got that award today and i wonder do i run? do i hang on to this? is schlumberger a better long-term hold? >> you do not need to be shy or nervous and you did a fabulous job and halliburton is

we're starting to move gas out of utica and marcellus, so think ohio and pennsylvania down to the souths gulf coast that will also lead to lng ex-sports. -- exports. it is all steam ahead and great for the first quarter. liz: you are in the natural gas pipeline and storage business, you're moving this stuff. it is interesting though, because i recall, there was some pushback a couple years back now from new yorkers who were worried about this pipeline. now that they're benefiting obviously from lower prices, what other people, in the rest of the country, usually new yorkers are paying more but where are the your next real hot spot opportunities? where is the demand? >> i would say there are several places. nothing like boston folks don't like to pay more than anything like new york folks. let's looks up there. like yankees and red sox. we'll be building pipelines there. we're building a billion dollar pipeline into new england with plans for two others. the southeast, the same. we're building a very large pipeline, a $3 billion plus pipeline for folks in florida, for next era and duke e

we have a request from derrick johnston of utica, ohio, to take note of his wife, melissa.ruary leaving behind him and their five children. she was 37. she loved "sunday morning," mr. johnston tells us, particularly bill geist and mo rocca. we can't make this a regular practice, but he has asked if we could show her picture. our condolences to you and your family, mr. johnston. when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. will you be a sound sleeper, or a mouth breather? a mouth breather! [ whimpers ] how do you sleep like that? well, put on a breathe right strip and shut your mouth. allergy medicines open your nose over tim

selling as opposed to concho, but an ter ro one to watch, that is a company that has marcellus in utica in ana darko and i heard it. you believe it won't stay independent. who buys ana darko? >> if i -- >> a game, i usually don't play this game. >> i know you don't. you know this area well. you've followed it a long time. many will agree it will get bought out, may not be for a while. still haven't closed that. the settlement and everything else. >> oh, yeah. >> who's the buy. >> not a lot of option buy. >> royal dutch or chevron. chevron. an now the thing that's important you have to understand ana darko is in every very good area and that's important. some of them are only in the -- people think noble doesn't have good assets. i like noble's assets, chuck davidson. eog is everywhere. remains my primary earnings driver stock in that group. ana darko is -- was kept back for a long time by that lawsuit and undervalued by 20 bucks. >> right. >> so even if you don't get a deal, you're going to be all right? >> an in darko is a great company and had the lawsuit and also had the gulf, a lot