Rex Energy (REXX) reported the successful completion of the company’s first well into the Utica Shale formation. The well was drilled and completed in the dry gas area of the play in Butler County, Pennsylvania.
The Cheeseman #1H well had a twenty four hour production test rate of 9.2 million cubic feet per day of natural gas. The well was drilled with a 3,551 foot lateral and completed with a twelve stage hydraulic fracturing operation.
Rex Energy did not disclose the cost of the Cheeseman #1H well and said that it would discuss development plans for the Utica Shale once the company sets its 2012 capital budget.
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