Utica Shale Oil Far from Dead – EnerVest, EQT Try Again

In September 2012 EV Energy Partners/EnerVest put 539,000 Ohio Utica Shale acres on the auction block. It didn’t sell. A year ago they announced they would begin selling sections piecemeal, a strategy that has netted a few sales since then (see EnerVest Strategy: Sell Utica, Drill Vertical, Expand Midstream). However, EnerVest still retains a lot of Utica acreage–in fact they are the largest Utica acreage holder according to the NGI’s Shale Play Factbook (with 903,000 acres, more than Chesapeake!).

A recent article in the Akron Beacon Journal takes a look at EnerVest’s interest in figuring out how to get the oil that everyone knows is present in the Utica, out of the ground. The company recently got approval from the Ohio Dept. of Natural Resources to drill two Utica wells targeted at getting oil in southern Tuscarawas County. EnerVest is not the only driller who is taking another run at striking oil in the Utica…

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