First Choice Energy

Tuesday, April 3, 2012

Promising Production Revealed in Early Reports on Utica Wells

Image: Suat Eman / FreeDigitalPhotos.net
The report released on Monday by the Ohio Department of Natural Resources gives good reason to be excited about the potential of the Utica Shale formation.

Vindy.com breaks it down nicely in a new article.  Nine Utica Shale wells produced more than 46,000 barrels of oil and about 2.6 billion cubic feet of gas during 2011, or $13 million worth based on current prices.

The crown jewel of reported producers thus far is the Buell well in Harrison County, which produced 13,472 barrels of oil and more than 1.5 billion cubic feet of gas over a 198-day period.  That's an average of 68 barrels and 7.7 million cubic feet per day.

Read the entire article at vindy.com to see more details.  The Canton Repository also published an article about this report.


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