Utica Shale

Interesting Utica Shale Article

Here’s an interesting article on the Motley Fool blog that summarizes information on the Utica Shale disclosed during second quarter of 2012 earnings season:

What we Learned about the Utica Shale During Earnings Season

Devon Energy Not "Encouraged" By Two Utica Shale Wells

Devon Energy (DVN) reported an update on its activities in Ohio where it is working on the Utica Shale.  The company reported that production results on the Eichelberger 1H well in Ashland County and the Richman Farms 1H wells in Medina County were not “encouraging.”

Devon Energy is working on the Sensibaugh 1H well in Knox County, which is located to the south of the Eichelberger 1H and Richman Farms 1H wells. After this well is finished, the company plans to focus on its acreage in eastern Ohio, where wells produce natural gas liquids.

Chesapeake Energy Reports Three Utica Shale Completions

Chesapeake Energy (CHK) reported on three recent wells drilled into the Utica Shale on its properties in Ohio. 

The Brown 10H well drilled in Jefferson County, Ohio, had a peak production rate of 1,445 barrels of oil equivalent (BOE) per day, with 8.7 million cubic of natural gas per day.

The Bailey 3H well had a peak production rate of 1,420 BOE per day, composed of 205 barrels of oil, 270 barrels of natural gas liquids and 5.7 million cubic feet of natural gas.

The Snoddy 6H well had a peak production rate of 1,260 BOE per day, composed of 320 barrels of oil, 250 barrels of natural gas liquids and 4.2 million cubic feet of natural gas. The Snoddy 6H and Bailey 3H wells are both located in Carroll County, Ohio.

Chesapeake Energy has 1.3 million acres under lease and will have 16 rigs operating in the Utica Shale by the end of 2012.