Utica Shale

Rex Energy To Work Utica Shale In 2012

Rex Energy (REXX) is active in the Utica Shale in both Ohio and Pennsylvania.  The company is the operator of acreage in Carroll County, Ohio, and expects to drill and put three gross or 2.4 net wells onto production in 2012.

In Butler County, Pennsylvania, Rex Energy plans to put the Cheeseman 1H well onto production during the first quarter of 2012.  The company expects to drill three gross or 2.1 net wells into the Utica Shale during 2012, and to place one of these wells onto production.

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.

Exxon Mobil Plans First Utica Shale Well in 2012

Exxon Mobil (XOM) commented on the company’s development plans in the Utica Shale in 2012.  The company picked up acreage here through the acquisition of Phillips Resources in June 2011, and has also been leasing acreage on its own.

Utica Shale

“Exxon Mobil is also actively exploring several other early stage liquids-rich play in the United States, including the Utica Shale play in eastern Ohio and western Pennsylvania. Our position in the Utica stems from our recently completed acquisition of the Phillips companies and represents incremental upside to the Phillips acquisition, which was focused on the Marcellus. The Phillips acquisition included 45,000 net acres prospective for the Utica in Ohio, and we have increased our position now to over 75,000 net acres. We anticipate drilling our first Utica well in early 2012.”

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