PDC Energy will Go-it-Alone with Utica Shale Drilling
PDC announced today they will “go it alone” and develop 45,000 acres of Utica Shale leases they own in southeastern Ohio without a joint venture partner. Apparently the offers they received weren’t good enough, so they’re committing $50 million to drilling efforts in the Utica in their 2013 budget.
Early results for PDC have been promising. They report drilling two wells in Guernsey County, OH. They plan to drill a third Utica well later this year in Washington County. Here’s the press release outlining early results, and their Utica plans for the next 12 months: