Utica Shale

Chesapeake Energy Reports Two Utica Shale Completions

Chesapeake Energy (CHK) has an active development program in the Utica Shale and disclosed an update on recent operations here.  The company is currently operating eight rigs in the play, with six working in the wet gas window and one each in the dry gas and oil areas.

Chesapeake Energy’s long term plan in the Utica Shale is to ramp up to 20 rigs by the end of 2012. The company has drilled 42 wells to date and has seven wells on production, and 35 waiting on completion or pipeline.

Chesapeake Energy reported the production on two recent Utica Shale wells.  The Shaw 20-14-5H and Burgett #7-15-6 8H wells produced at peak average production rate of more than 700 barrels of oil and 3 million cubic feet per day of natural gas. Both wells are located in Carroll County, Ohio.

Rex Energy Reports Success Of Cheeseman #1H Utica Shale Well

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.

Chesapeake Energy Reports Results of Four Utica Shale Wells

Chesapeake Energy (CHK) reported the production results of four wells drilled and completed into the Utica Shale in Ohio and Pennsylvania.  The company has drilled a total of twelve wells into the play.

The Buell 10-11-5 8H produced at a peak rate of 3,010 barrels of oil equivalent (BOE) per day composed of 9.5 million cubic feet of natural gas and 1,425 barrels per day of natural gas liquids and oil. The Buell 10-11-5 8H is located in Harrison County, Ohio, and was drilled with a lateral of 6,418 feet.

The Mangun 22-15-5 8H produced at a peak rate of 1,530 BOE per day composed of 3.1 million cubic feet of natural gas and 1,015 barrels per day of natural gas liquids and oil. The Mangun 22-15-5 8H is located in Carroll County, Ohio, and was drilled with a lateral of 6,231 feet.

The Neider 10-14-5 3H produced at a peak rate of 1,615 BOE per day composed of 3.8 million cubic feet of natural gas and 980 barrels per day of natural gas liquids and oil. The Neider 10-14-5 3H is located in Carroll County, Ohio, and was drilled with a lateral of 4,152 feet.

The Thompson 3H produced at a peak rate of 6.4 million cubic feet per day of natural gas. The Thompson 3H is located in Beaver County, Pennsylvania, and was drilled with a lateral of 4,322 feet.

Chesapeake Energy said that the Utica Shale production rates disclosed assume maximum ethane recovery by the company, although currently minimal amounts of ethane are being recovered due to temporary market limitations.