YRPHeader2013fullrounded

Monday, July 28th, 2014
Current Time 10:37:48pm
Thursday, 03 July 2014 10:45

Analysts predict huge growth in Ohio's Utica Shale

Written by 

 

Major shale players targeting Belmont, Monroe counties in 2014

 


CAMBRIDGE, Ohio -- Seasoned natural gas wildcatters and analysts alike say they see shades of the success of the Marcellus Shale in Ohio's burgeoning Utica Shale play.

 

Companies such as BP left Ohio earlier this year after exploration wells showed little oil coming from the shale deposits beneath the Buckeye State. But a handful of players are racing to snap up land in the southeastern corner of the play, where operators have found wet gas and high-performing wells that rival some in the core of the Marcellus Shale.

American Energy Partners, Exxon Mobil, Magnum Hunter, Rice Energy and Antero Resources are among the gas producers moving southeastward to Belmont and Monroe counties, where 19 of the top 20 best-performing horizontal wells were drilled in the fourth quarter of 2013. American Energy said last week it had spent $3.5 billion amassing land in the Utica.

Drilling analyst Jeanie Oudin said earlier this week that the Utica Shale "has been a little more exciting of late because of its potential and the capital that's going into eastern Ohio." She projects the region's daily output will grow to 5 billion cubic feet by 2018.

 

Last modified on Wednesday, 09 July 2014 10:50
Z. Daniel Barnett

Email This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Facebook Links
  • Free Text Alerts
  • Twitter Feeds

Get Text Message Local News Alerts and Local HS Sports  Scores on Your Cell Phone!

YourRadioPlace.com will alert you to the latest breaking LOCAL news, weather school closings and local HS sports scores for all the games we broadcast via Text Messages to your cell phone or PDA! Sign up now for this FREE service! (Message and Data Rates May Apply - See details under read more link)

AVC Local News Alerts:   Text keyword: AVCNEWS to 41411
Local HS Sports Scores:  Text keyword: AVCSPORTS to 41411

Message and data rates may apply. To Opt-out text STOP to 41411. For more information text HELP to 41411.

Follow us on Twitter!

AVC News - Daily Local Headlines and Alerts

AVC Sports - Local HS Sports Scores

Popular Articles...