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22 New Shale Well Permits Issued for PA-OH-WV Mar 17 – 23
For the week of Mar 17 – 23, the number of permits issued in the Marcellus/Utica to drill new shale wells dropped by nine from the previous week. Last week, 22 new permits were issued, with 16 going to the Keystone State (PA). PennEnergy Resources took the lion’s share with 11 permits for a single pad in Butler County. PA General Energy received four permits for a single pad in Lycoming County. Range Resources got one new permit in Washington County. Read More “22 New Shale Well Permits Issued for PA-OH-WV Mar 17 – 23”
EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in Trinidad and China), owns nearly a half million acres of leases in the Ohio Utica (~460,000 acres). EOG calls its position the “Ohio Utica combo play” and now considers it one of the company’s “premium plays.” EOG concentrates on oil drilling in the Utica. During the company’s fourth quarter and full-year update, we learned that EOG has fully committed to operating two rigs and one frac crew in the Ohio Utica in 2025. Looking back at 2024, the company drilled and completed 25 Utica wells. Looking forward to 2025, the plan is to drill and complete another 30 new Utica wells. 
Wow! Is this the Trump effect? For the week of Jan 13 – 19, permits issued in the Marcellus/Utica to drill new shale wells achieved levels we haven’t seen in, oh, about four years. There were 41 new permits issued last week, up significantly from 27 issued the week before and 30 issued two weeks before. The Keystone State (PA) issued a whopping 25 new permits, with 17 (!) going to EQT spread across Greene and Washington counties. Another six permits went to Chesapeake Energy (now Expand Energy) in Bradford County. One permit each went to Range Resources and Apex Energy in Beaver and Westmoreland counties, respectively. 
Oil wildcatting is the process of drilling exploratory wells in areas with little to no history of oil and gas production. Wildcatting is a high-risk activity that involves drilling in unproven or fully depleted areas. Wildcat wells are often drilled far from other wells and without the use of well logs or other geological data. Wildcatting can be profitable—or spectacularly unprofitable. A recent Hart Energy article reports that “wildcatting is back.” The very first part of the article focuses on wildcatting that is happening in the Ohio Utica Shale. 
According to an extensive report appearing on the World Oil website (and in the November issue of the magazine), multiple possible futures lie ahead for the Marcellus and Utica shales. So, which future will come to pass? Today, both industry and government see the Marcellus and Utica formations as tremendous opportunities for companies and state governments, with domestically produced energy, jobs, and a huge economic impact. 
EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in Trinidad and China), owns nearly a half million acres of leases in the Ohio Utica. EOG calls its position the “Ohio Utica combo play” and now considers it one of the company’s “premium plays.” EOG concentrates on oil drilling in the Utica. The company experimented with the Utica this year, however, the time for experimenting is coming to a close. During the company’s third quarter update last Friday, COO Jeff Leitzell said EOG will be “up to two full rigs and one full frac fleet by year-end” next year. 
The Ohio Department of Natural Resources (ODNR) released production numbers for the second quarter of 2024 yesterday. The story the numbers tell continues to be about Utica oil, which continues to rise each quarter. Ohio’s total oil production during 2Q24 was 8.01 million barrels, up 23% from 2Q23’s 6.5 million barrels and up 11% from 1Q24’s 7.2 million barrels. The story of oil in the Buckeye State can’t be told apart from Encino Energy (EAP), which produced nearly half of all the state’s oil during 2Q24. As for natural gas production, it’s no surprise it went down slightly in 2Q24, given the current low price for gas. The state produced 526.6 Bcf in 2Q24, down 3.7% from 2Q23’s 547.0 Bcf, and down 1.4% from this year’s first quarter number of 534.0 Bcf. MDN pulled the numbers from the ODNR quarterly report and produced top 25 lists for both gas and oil wells.
We’ve been waiting for this! For the past few years, since EOG Resources acknowledged it had quietly amassed nearly half a million acres of leases in the Ohio Utica Shale, the company has been experimenting with crude oil drilling in the Utica. Each quarter EOG’s managers have sung the praises of the Utica (see 
The Ohio Oil and Gas Land Management Commission (OGLMC) continues to do its job. Yesterday, the group held a meeting and awarded five contracts for drilling and fracking UNDER (not on) several state-owned lands, including a contract with EOG Resources to drill under 85 acres in Keen Wildlife Area in Washington Township, Harrison County, for $211,650 ($2,500/acre). Also of interest at yesterday’s meeting was that 40 parcels of land in Salt Fork State Park and Salt Fork Wildlife Area were removed from the committee’s agenda. Apparently, the nominating company withdrew its application for those tracts.