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Early Numbers Coming From the Utica Look Good for Ohio
Finally drillers in Ohio’s Utica Shale are beginning to release some quantitative production data. Up until now most companies have been pretty tight lipped doling out adjectives such as disappointing or promising. Gulfport Energy reports that its Harrison County Wagner well is producing 17.1 million cubic feet of natural gas per day, plus 432 barrels of oil and 1,881 barrels of natural gas liquids. Yes, natural gas prices remain depressed but oil is in the $92 per barrel range. Putting that into perspective the typical non-horizontal well in Ohio produces about 50,000 cubic feet of gas per day and less than 1 barrel of oil. Gulfport intends to drill 200 well in the next 4 years.
Chesapeake Energy has drilled 87 wells in Ohio and has 28 of them in production. Each well is daily averaging about 205 barrels of oil, 150 barrels of natural gas liquids and 3.8 million cubic feet of natural gas. Chesapeake is the largest player in the Utica and remains enthusiastic.
“We remain very pleased with our results to date in the Utica,” company spokesman Steve Dixon said.
Added CEO Aubrey McClendon: “But right now we love what we see on the wet gas side.”
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2012-08-13 23:43:22
Source: http://teapartyatperrysburg.blogspot.com/2012/08/early-numbers-coming-from-utica-look.html
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