Rocket Ride Continues for OH Utica NatGas Production in 3Q16

The Ohio Dept. of Natural Resources (ODNR) has just issued production numbers for the third quarter of 2016. Compared with third quarter 2015, production numbers in 3Q16 continued to be a mixed bag, as was the case in 2Q16 (see Ohio 2Q16 Utica Production – Who Produced O&G Where & How Much). Oil production in 3Q16 dropped by 34% over a year earlier and down 18% from 2Q16–that’s the bad news. But natural gas production from shale continues to be a rocket ship. Natgas production is up 45% year over year. In 2Q16 natgas production was up 51% y/y–so the trend continues. Ascent Resources (formerly Aubrey McClendon’s American Energy) dethroned last quarter’s CNX Gas as 3Q16’s top producing gas well, yielding nearly 1.6 billion cubic feet for the quarter. Also interesting to note, last quarter’s CNX well is located in Monroe County–this quarter’s Ascent winning well is located in Belmont County. Eclipse Resources once again had the #1 producing oil well in Guernsey County, the monster Purple Hayes, which produced an astonishing 74,954 barrels of oil in 3Q16, after producing 71,072 barrels of oil in 2Q16 (#1 well in 2Q16). What a great well! Below we have the ODNR’s high level overview of the numbers, along with MDN’s own exclusive analysis showing: the top 25 producing gas wells, the top 25 producing oil wells, and then the top 25 gas and oil wells as ranked by average production per day. There is a difference!…

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