Gastar’s First Utica Well Shines – Nearly 30 Mmcf/d
Gastar Exploration is out today with an operations update for their Utica drilling program. The company reports initial production on their first-ever Utica Shale well, drilled in Marshall County, WV, is flowing at a rate of 29.4 million cubic feet of gas per day. Those numbers easily put Gastar’s first Utica well among some of the top performers. According to Gastar CEO Russell Porter, they plan to drill “one or two” more Utica wells later this year/early 2015, get the results, ans then make a decision on how aggressively they’ll roll out their full Utica drilling program. Here’s the details on Gastar’s first Utica well…
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Big news from MDN friend and Marcellus/Utica driller Aubrey McClendon. McClendon, now CEO of American Energy Partners (and former CEO of Chesapeake Energy), told a Hart Energy conference yesterday that the companies he’s started since leaving Chesapeake will soon go public–each of them individually. And he’ll start even more companies that will go public. McClendon is adopting a “pure play” approach in which each company will be independently run and focus on a single shale play. Once again McClendon has taken the road less traveled and is pioneering a brilliant strategy to dominate the plays which he chooses to target. MDN’s words when the Chesapeake board dismissed Aubrey (from April 1, 2013) were prophetic: “Why is it an error to show McClendon to the door even in light of his aggressive financial deals? You think McClendon will take his piles of money and sit on a Caribbean beach somewhere? In your dreams! He’ll be back, and he’ll start (or buy) another company that will directly compete with Chesapeake. You can bank on it.” (see