Exxon Acquiring Acreage in OH Utica Shale for Oil Drilling
A rather generic story put out by Reuters yesterday refers to Exxon Mobil’s interest in acquiring acreage in the Utica Shale in Ohio as a new source of oil drilling. Details are sparse about Exxon’s plans, but it points out the white-hot interest there is in Ohio’s Utica Shale since Chesapeake announced in July they have struck oil, as well as natural gas and gas liquids, in Eastern Ohio (see this MDN story). Looks like Exxon considers Eastern Ohio to now be “one of the biggest sources of crude oil in the United States.”
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A court case in Pennsylvania may have a chilling effect on Marcellus gas drilling in the state even before it’s finally decided. This is a bit complicated, so buckle up! And be sure to read this post if you own land in PA.
Early today, Norse Energy, a Norwegian company with gas drilling operations in New York State, issued an interesting press release about laying off half of their employees (see the full release below). Norse holds some 180,000 net acres of natural gas leases in New York, of which 130,000 are in the Marcellus and Utica Shale zones.