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Monday, June 17, 2013

Consol Energy Identifies Jefferson, Noble, Harrison, Guernsey & Belmont Counties as Best Ohio Opportunities

From the Youngstown Vindicator:
In the eastern portion of the Utica, in counties such as Belmont and Monroe in Ohio and continuing into West Virginia and Pennsylvania, there is mostly dry gas, but extracting the dry gas isn’t as economical as extracting the dry gas in the Marcellus Shale because the Marcellus is geologically shallower than the Utica and therefore cheaper to drill and complete, Schurr said. 
Oil and gas companies, therefore, are focusing on the condensate-heavy portions of the Utica play in Jefferson, Noble, Harrison, Guernsey and Belmont counties, he said. 
Natural-gas condensate is a low-density mixture of hydrocarbon liquids that exists in the raw natural gas produced from many natural-gas fields. 
“Condensate sells for about $90 a barrel,” Schurr said. 
The best-producing well for CONSOL in Ohio is in Noble County. It produces 768 barrels of condensate per day, and about 12 million cubic feet of natural gas, he said. Conversely, a well less than two miles away produces only 10 barrels of condensate per day and 9 million cubic feet of natural gas.
To read the entire article, click here.

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