A bit of a surprise for MDN with the release of Carrizo Oil & Gas’s first quarter 2015 update today. In January Carrizo said they would not be drilling any new wells in the Utica/Marcellus in 2015 (see Carrizo Cuts Budget 35%, No Drilling Planned in Utica/Marcellus in 2015). While the company held true to its word on the Marcellus and did not drill any new wells, they did drill two new Utica wells in 1Q15. The two wells were drilled in northeast Guernsey County, OH and are being used as tests to determine the production capability in that area. Early results, according to Carrizo, are quite good (an average 200 barrels per day of oil/condensate). They do say, however, that because of low prices, they have no plans to drill any more Utica wells for the balance of this year beyond these two test wells in Guernsey…
