Utica Shale

Anadarko Petroleum Reports On Recent Utica Shale Activity

Anadarko Petroleum (NYSE:APC) disclosed an update on activity in the Utica Shale during the third quarter of 2012.  The company has five wells on production and two additional wells in the testing phase.  Anadarko Petroleum will be finished with the evaluation of its Utica Shale exploration program early next year.

Utica Shale wells permitted by Anadarko Petroleum include Guernsey Spencer A3H, Meigs C-1H, Noble Olive A-1H, Noble Sharon A-1H, Coshocton Linton B-1H, Muskingum Meigs A1H and Noble Brookfield A1H.

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.

Utica Shale Permits By County

Carroll County has received 128 well permits to drill into the Utica Shale from the Ohio Department of Natural Resources, the most of any county in Ohio. Columbiana and Harrison Counties are second and third with 49 and 32 permits, respectively.  The full list is below and covers through August 20, 2012.

Ashland	1
Belmont	8
Carroll	128
Columbiana	49
Coshocton	3
Geauga	1
Guernsey	17
Harrison	32
Holmes	1
Jefferson	28
Knox	2
Mahoning	12
Medina	1
Monroe	17
Muskingum	3
Noble	12
Portage	10
Stark	13
Trumbull	2
Tuscarawas	7
Wayne	1
Total	348