Utica Production in Washington County, OH Tumbles, PDC Pulls Out

Washington County, OH, along the southeastern tip of active Utica drilling, has never been known as a hotbed of Utica drilling. However, there is at least some drilling in the county. In 2016 and the first quarter of 2017 there were eight (8) active Utica wells producing hydrocarbons–gas and oil and NGLs. Those eight wells are owned by three companies: Edgemarc Energy, Protege Energy and PDC Energy. PDC, you may recall, announced in May that it has put all of its remaining Utica assets up for sale, including wells/land in Washington County, so it can use the proceeds to drill for oil in Texas and Colorado (see PDC Energy Pulling Out of the Utica – Selling Acreage & Wells). What does that mean for Washington County? Because no new drilling has taken place, production is, understandably, falling. In 1Q17 oil production fell 39% and natural gas production fell 20% from the the previous quarter. That trend will continue unless/until new drilling happens. Here’s an update on Washington County, OH and on PDC Energy pulling out…

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