U.S. Driller Sitting on Big Canadian Utica Shale Reserve
The Utica Shale underlies part of the Canadian province of Quebec. But development of the Utica is currently on hold while a government panel studies and reviews the miracle of hydraulic fracturing, just to be sure it’s safe.
In the meantime, drillers like Lone Pine Resources, with leased acreage in Quebec’s Utica Shale, wait. While they’re waiting, they’ve sized up the potential reserves they own in the Utica, and for Lone Pine, it’s big.