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Monday, November 12, 2012

Study Says Utica Shale Potential is Big

From the Akron Beacon Journal:
The Utica shale could be one of the most prolific basins in the U.S., making the region ripe for potential mergers and acquisitions, according to a study fromSunTrust Robinson Humphrey.
“There are a number of possible Utica deals on the horizon, with some values potentially rivaling the approximate $15,000 per acre that Chesapeake previously announced. We won’t be surprised to see a large position by a new major, such asChevron Corp., (NYSE: CVX) or other large operator given numerous are large players and already active in the play,” according to the study.
Although additional surveys are still needed, SunTrust said the play, like the Eagle Ford, has three windows: one for dry gas, one for liquids and one for oil.
Read the rest of this article here.

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