Utica Shale

Chesapeake Energy - Utica Shale Summary

Chesapeake Energy (CHK) is the largest operator in the Utica Shale and has 1.3 million acres under lease.  The company is operating 10 rigs and plans to average 13 rigs in 2012 and 22 rigs in 2013.

Chesapeake Energy has drilled 59 wells into the Utica Shale:

Producing – 9 wells

Undergoing completion – 15 wells

Waiting for completion – 15 wells

Waiting on Pipeline – 20 wells

Chesapeake Energy’s most productive Utica Shale well is the Buell 8H well in Harrison County, Ohio, which produced at a peak rate above 3,000 barrels of oil equivalent (BOE) per day in September 2011.  The company estimates that the Buell 8H well will have an estimated ultimate recovery (EUR) of 575,000 barrels of liquids and 13 bcf of natural gas.

Chesapeake Energy Reports Three Utica Shale Wells

Chesapeake Energy (CHK) latest Utica Shale results were released back in May 2012 and I neglected to post them here.  These three wells were all drilled and completed in Carroll County, Ohio:

Shaw 5H – 1,440 barrels of oil equivalent (BOE) per day, composed of 770 barrels of oil, 180 barrels of natural gas liquids and 2.9 million cubic feet of natural gas per day.

Burgett 8H – 1,210 BOE per day, composed of 720 barrels of oil, 140 barrels of natural gas liquids and 2.1 million cubic feet of natural gas per day.

Coniglio 6H – flow test of 1,125 BOE per day, composed of 290 barrels of oil and 5 million cubic feet of wet natural gas per day.

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.