Ohio Passes “Magic 600” Utica Shale Permits Issued
The most recent weekly report from the Ohio Dept. of Natural Resources (ODNR) shows that Ohio has now issued 605 Utica Shale permits to drill. Of those, 297 wells have been/are being drilled, and 89 wells are now producing. Although recent talk from Bloomberg and others has attempted to throw cold water on the Utica Shale, there’s no denying it’s still white hot.
Here are the the numbers from the latest report, and the grand tallies for where all those permits have been issued—by county, and by driller:
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At the recent winter meeting of the Ohio Oil and Gas Association, OOGA presented the DeBrosse Memorial Report: 2012 Oil and Gas Activity in Ohio. Chock-full of interesting charts and maps showing who drilled wells in Ohio, where they drilled them and how far (distance) the wells were drilled, the report (full copy embedded below) is a must-read if you have an interest in the Utica Shale.
Yesterday morning the new acting CEO of Chesapeake Energy, Steve Dixon, delivered his first investors talk as CEO. One of the primary parts of that talk—indeed we would say the centerpiece—were remarks about the Utica Shale and its importance for Chesapeake as they move forward. According to Dixon, Chesapeake’s production in the Utica for 2012 will show lower numbers than otherwise possible because of lack of pipelines and processing plants. Dixon says that will soon change, and so too will their production numbers.