1st NRG Inches Closer to Utica Drilling – Still Not There Yet

1st NRG Corp. is a small-but-growing exploration and production company headquartered in Denver, CO. Their drilling program to date has been centered in Wyoming (coal bed methane drilling). For more than year 1st NRG has been saying “we’re gonna start drilling in the Utica, you wait and see” (our words). They issued a press release more than a year ago that said, essentially, they are interested in the Utica (see 1st NRG Corp Newest Entrant in OH Utica Shale). They then issued a release saying they had raised $7 million for Utica drilling (see 1st NRG Corp Gets $7M Loan to Begin Drilling in Utica, Other Plays), and another saying they were looking for more money to drill in the Utica (see 1st NRG Still Looking for $ to Drill 7K Acres in Utica Shale).

It’s November and has been eight long months since the last press release–so it must be time for another. Lookie here, we have one! This time, however, there’s been a change. 1st NRG says they have “signed an agreement with a private energy company to participate in the development of prospective acreage.” That still isn’t “we’re drilling our first well,” but we guess it’s a half step closer. Here’s the latest press release that’s short on details and long on puffery and descriptions of the Utica…

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