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Friday, January 18, 2013

Devon Energy Plugs Third Utica Well, Expresses Disappointment in Production

From the Mount Vernon News:
Devon Energy has all but given up on its Utica Shale well outside of Utica. The well was “abandoned” according to Tim Hartley, senior communications specialist with Devon.
Although Hartley admits the term has a bad connotation, it simply means the site has been capped or plugged and restored to its former condition, if not better.
He said the reports from Devon’s wells in the western sections of the Utica Shale —including the Kirkpatrick Road site and a drill site in Ashland County — were “disappointing.” Producing natural gas and natural gas liquids, the sites failed to produce crude oil which is more profitable in today’s economy.
Read the whole article here.

Devon Energy's Utica shale plan to focus on producing oil is interesting in light of Chesapeake's stated decision to shift their Utica focus away from pursuit of oil.

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