EOG Uses Permian Completion Design on Utica Test Wells
In 2020, EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in Trinidad and China), sold all of its Marcellus assets, which were located in Bradford County, PA, to Tilden Resources for $130 million (see EOG Resources Sells Marcellus Assets for $130M, Exits Basin). EOG left the M-U building, so to speak. But the company couldn’t stay away. Last November, we told you that EOG admitted to stealthily amassing 395,000 net acres in the Ohio Utica for very little money (see EOG Resources Accumulates 395K Acres in Ohio Utica for Under $500M). EOG calls its position the “Ohio Utica combo play” and considers it among its “emerging plays.” EOG concentrates on oil drilling in the Utica. As part of its third quarter update, EOG said it is seeing promising results from test wells in the Utica, and that going forward, the Utica will compete with EOG’s foundational Delaware Basin (Permian) and Eagle Ford programs for drilling budget.
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Folks new to the Marcellus/Utica may not know this, but Chesapeake Energy’s then-CEO Aubrey McClendon first “discovered” the Ohio Utica about 15 years ago. Under McClendon, Chesapeake spent over $2 billion acquiring rights to drill 1.3 million acres in Ohio–or roughly 5% of the state’s land area. McClendon pegged the value of the Utica for Ohio at half a trillion dollars. He famously said the Ohio Utica is “the biggest thing economically to hit Ohio, since maybe the plow.” McClendon was tossed out of the company he founded by corporate raider Carl Icahn, so he started a new company (to target the Ohio Utica) that eventually became Ascent Resources. Tragically, McClendon died in March 2016, so he never got to see his dream turn into reality (see 
DT Midstream (DTM), headquartered in Detroit, owns major assets in the Marcellus/Utica region and other regions. DTM issued its second quarter 2023 update yesterday. The company announced it had reached a final investment decision (FID) to build a new greenfield gathering system in the Ohio Utica Shale. The gathering system will transport associated gas from new wells being drilled in the rich window of the Utica.
New shale permits issued for May 15-21 in the Marcellus/Utica took a substantial hit. There were only 12 new permits issued, down by more than half from the 26 new permits issued the previous week. Last week’s tally included 10 new permits for Pennsylvania, 2 new permits for Ohio, and no new permits in West Virginia. Last week the top receiver of new permits was a tie–Coterra Energy and Chesapeake Energy each received 3 new permits, with Coterra’s permits issued in Susquehanna County, PA, and Chessy’s permits in Bradford County, PA. Range Resources and Olympus Energy each received 2 new permits, and Southwestern Energy and EOG Resources each received 1 new permit.
Why would a major oil and gas driller decide to cede control of the future of its company to a group of international leftists hellbent on destroying fossil energy? The answer eludes us, but it has just happened with a second Marcellus/Utica driller: EOG Resources. Yesterday, EOG announced it has joined the UN’s Oil & Gas Methane Partnership 2.0 (OGMP 2.0). Support for OGMP 2.0 is growing in the natgas marketplace in the U.S. We previously told you that Cheniere Energy’s LNG export plants are seeking certification under OGMP 2.0 (see 
In 2020 EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in Trinidad and China), sold *all* of its Marcellus assets, which were located in Bradford County, PA, to Tilden Resources for $130 million (see 