Reuters continues to pile on the bash-Utica bandwagon after the release last week of what MDN termed “disappointing” initial production numbers from the Ohio Utica Shale. MDN tried to keep perspective and provide context to the numbers in our Friday article (see OH 2012 Utica Production: A Slow Start, but Still Hopeful). However, Reuters (not for the first time) is doing their best to burst the bubble on what they call a “wave of euphoria” over shale plays like the Utica:
Read More “Reuters Says ND Pumps More Oil in 1 Day than OH Did in All 2012”

Ohio finally released 2012 Utica Shale production numbers for oil and gas yesterday. It’s tough to summarize those numbers in a simple statement, but if we had to, we’d say “disappointing.” The total production numbers are quite a bit lower than we had expected–12.8 billion cubic feet of natural gas & NGLs produced for the year, and almost 636,000 barrels of oil, from 87 producing wells. The question is, why was it not more? The short answer, we believe, is “lack of infrastructure.” It was not from “lack of performance” by the wells themselves, some of which turned in very good numbers.

MDN has embedded a copy of the numbers below as reported by the ODNR (with two extra rows in the data provided by MDN). We’ll report what the Ohio Dept. of Natural Resources said about the numbers, what others have had to say, and then give you our take on the numbers. Buckle up!
Read More “OH 2012 Utica Production: A Slow Start, but Still Hopeful”

The Ohio Dept. of Natural Resources will release the long-awaited Utica Shale production numbers for 2012 at 2:00 pm today, Thursday, May 16.

The Youngstown Business Journal issued this bulletin about the forthcoming numbers:
Read More “OH Utica Production Numbers for 2012 Coming TODAY”