Carrizo Scales Back in Marcellus, Keeps Drilling in Utica

What a difference three months can make. In second quarter 2014 Carrizo Oil & Gas drilled 9 Marcellus wells and purchased more Utica acreage (see Carrizo 2Q14: Drills 9 Marcellus Wells, Buys More Utica Acreage). In third quarter 2014, Carrizo didn’t drill or complete any Marcellus wells, they began work to complete their second-ever Utica well and now have plans to drill only 5 more Utica wells in 4Q13. The problem seems to be lack of infrastructure (pipelines) to carry any production from their wells to market, as well as stubbornly low prices for natural gas in the northeast–leading to voluntary “curtailment” on the part of Carrizo (they shut the wells off for a period of time). Carrizo is re-focusing their efforts on the more oily Eagle Ford and Niobrara Shale plays…

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