Utica Shale

Chesapeake Energy Reports Three Utica Shale Completions

Chesapeake Energy (NYSE:CHK) reported production results of three wells recently completed into the Utica Shale in Ohio.  The company has drilled 134 wells to date in the Utica Shale through the end of the third quarter of 2012 and is operating 13 rigs in the play.

Houyouse 15-13-5 8H – 1,735 barrels of oil equivalent (BOE) per day, composed of 465 barrels of oil, 335 barrels of natural gas liquids and 5.6 million cubic feet of natural gas per day.

White 17-13-5 8H – 1,360 BOE per day, composed of 390 barrels of oil, 285 barrels of natural gas liquids and 4.1 million cubic feet of natural gas per day.

Stuart Henderson 11-12-6 1H – 825 BOE per day, composed of 410 barrels of oil, 100 barrels of natural gas liquids and 1.9 million cubic feet of natural gas per day.

Chesapeake Energy has 1.3 million acres of leasehold prospective for the Utica Shale in Ohio.

Halcon Resources Reports On Utica Shale Operations In Ohio And Pennsylvania

Halcon Resources Corporation (NYSE:HK) plans to drill between four and six wells into the Utica Shale during the last six months of 2012.  The first two wells in this program will be spud in October 2012.

Halcon Resources Corporation has about 130,000 net acres prospective for the Utica Shale/Point Pleasant formation.  The leasehold is located in Trumbull and Mahoning Counties, Ohio, and Mercer, Venango and Crawford Counties, Pennsylvania.

Halcon Resources Corporation has obtained five drilling permits to date and expects to receive the other permits shortly.  The company plans to shut in Utica Shale wells for up to 60 days prior to putting them onto production.  The wells are shut in to enhance the long term recovery of hydrocarbons and the lack of infrastructure in the area to process and transport oil and gas.

Halcon Resources Corporation expects first production from the Utica Shale in the first quarter of 2013.

PDC Energy Updates Utica Shale Program

PDC Energy (PDCE) updated the company’s Utica Shale development program, where the company has 45,000 net acres spread across Guernsey, Noble, Washington and other counties in Ohio.

PDC Energy is no longer looking for a joint venture partner in the Utica Shale as the company felt that the offers received did not provide enough value to shareholders.  The company will develop the acreage on a standalone basis.

PDC Energy plans to spend $95 million in capital in the Utica Shale in 2012 and estimates 2013 spending at $50 million.  The company has disclosed information on three wells to date:

Onega Commissioners #14-25H – This well is currently being completed and then will be shut in for 60 days prior to a flow test in November 2012.

Detweiler #42-3H – This well will be completed by the end of 2012 and will be flow tested in the first quarter of 2013.

PDC Energy expects to spud its third horizontal Utica Shale well in the fourth quarter of 2012.