Utica Shale

CONSOL Energy Reports Results On Noble 1A Utica Shale Well

CONSOL Energy (NYSE:CNX) reported the production results of a recent well drilled into the Utica Shale in Noble County, Ohio.  The Noble 1A produced peak 24 hour flows of 9 million cubic feet of natural gas and 10 barrels of condensate per day. 

CONSOL Energy is currently drilling the Noble 16A in Seneca Township in Noble County.  Both Utica Shale wells are part of a joint venture agreement with Hess Corporation (NYSE:HES)

CONSOL Energy drilled four wells and completed two wells into the Utica Shale during the third quarter of 2012. 

Tuscarawas 3A – peak rate of 400 barrels of crude oil per day – cumulative production of 7,800 barrels of oil - 17 fracturing stages, 4,915 foot lateral length

Portage 2A - 4,762 foot lateral length

Mahoning 2A – 2,735 foot lateral length

CONSOL Energy is operating two rigs in the Utica Shale and is drilling the Tuscarawas 8A well in Tuscarawas County and the Mahoning 7A in Mahoning County.  The company expects to drill eight Utica Shale wells in 2012 in the joint venture.

Gulfport Energy Reports On Shugert 1-1H Utica Shale Well

Gulfport Energy (Nasdaq:GPOR) reported initial production results on the Shugert 1-1H well drilled into the Utica Shale. The company said that peak rate production was 4,913 barrels of oil equivalent (BOE) per day composed of:

• 20 million cubic feet of natural gas
• 144 barrels of condensate
• 2,002 barrels of natural gas liquids

The production results on the Shugert 1-1H well assume full ethane recovery and a natural gas shrink of 17%.  Gulfport Energy expects to put the Shugert 1-1H well onto sales production in December 2012.

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.