National Fuel Gas (NFG) held a recent analyst meeting and disclosed additional information on the company’s position in the Utica Shale in Pennsylvania and Ohio. The company is at an early stage of evaluation of the potential and can’t yet determine the acreage exposure or resource potential of the Utica Shale.
National Fuel Gas drilled a vertical well in the Jewett area of McKean County, Pennsylvania in June 2011. The company found 400 feet of gross reservoir at a depth of 10,000 feet in the Utica, Point Pleasant and Trenton formations.
National Fuel Gas plans to spud a vertical well in the Henderson area in September 2011 and another horizontal well in the Tionesta area in 2012. The company believes that most of its acreage is located in the dry gas window of the play.
National Fuel Gas conducts its exploration and production operations as Seneca Resources Corporation.