Thursday, September 20, 2012

Utica Shale Results Starting to be Measured Against Predictions

From Crain's Cleveland Business:
As the temperature drops and fall approaches, we start to think about the fall harvest. Falls is usually associated with picking apples, but this year we're picking data from new Utica shale wells to see if it supports our projected economic outcomes for Ohio. 

There are three pillars of data that were the basis of projections in a recent study, “The Economic Impact of the Ohio Shale,” conducted by Cleveland State University: drilling activity, production per well, and the decline curve of production over time. 

As of Sept. 10, the number of wells drilled in Ohio reached 133, which shows that out of a projected 160 wells for 2012, as predicted by the study, 100 were already drilled the first eight months of this year. At least for the first projected year, expansion of drilling activity is going up to speed. 
Read the rest of the article here. 

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