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.

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