Gassy Northern Utica in Ohio Turns Oily Thanks to Encino Energy

Encino Energy purchased Chesapeake Energy's Ohio oil and gas assets (including Utica Shale assets) in 2018 for $2 billion (see Encino Takes Over from Chesapeake in Ohio Utica; Big Plans). A few months later, Encino CEO Hardy Murchison and COO Ray Walker (formerly of Range Resources) told attendees at a conference they would do oil drilling in the state differently and better than Chesapeake (see Encino Says They’ll Do it Better in the Utica than Chesapeake Did). They did! By June of last year, Encino had become the biggest oil producer in the state, having "cracked the code" on oil drilling in Ohio (see Oil Prod. in Northern Utica Comes Alive – Encino Cracks Oil Code). Encino is now turning parts of northern Utica, places like Columbiana County that are known for producing mostly natural gas, into oil-producing zones.

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