Who’s Drilling Where (and How Much) in Ohio’s Utica Shale
In one of the best “round up” articles MDN has seen, journalist Bob Downing from the Akron Beacon Journal gives a rundown of who’s drilling where in Ohio’s Utica Shale. From the introduction of the article:
To date, Chesapeake — with 1.35 million acres of land leases — has drilled (or is drilling) 56 wells, mostly in Carroll County, as its exploration continues.
But Chesapeake is seeing increased competition as other companies — some with familiar names — are attracted to Ohio’s potential.
Among the companies signing leases or other deals to become players in an area stretching from Youngstown to Marietta are EnerVest Ltd., Anadarko Petroleum Corp., Devon Energy Production Co, Hess Energy, XTO Energy Ltd. (an ExxonMobil Corp. subsidiary), Chevron Corp., HG Energy, CNX Gas Co. Ltd., Range Resources Corp., Anschutz Exploration Corp., Carrizo Oil & Gas and Antero Resources.
To date, 3.8 million acres in Ohio have been leased or acquired, according to a recent study by Ohio State and Cleveland State universities and Marietta College.
The price paid to acquire Utica rights topped $8,800 an acre in at least one case, but a more typical leasing bonus is $2,500 an acre.
The busiest counties for recent leasing and acquisition have been Belmont, Jefferson, Noble, Guernsey, Monroe and Washington.
Projections are that 160 wells will be drilled in 2012 in Ohio, with another 650 wells in 2013 and 1,075 wells in 2014.*
There’s a lot more, with details of how many acres and wells are being drilled by which companies. A veritable score card. Read the rest of this enlightening article by clicking below.
*Akron Beacon Journal (Mar 25, 2012) – New players staking claims to Ohio’s Utica shale land