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Wednesday, December 4, 2013

Utica is Off to a Fast Start Compared to Other Shale Plays

From Business Journal Daily:
Despite the relatively small number of wells in production, oil and gas development in the Utica shale in eastern Ohio is moving at a rapid clip compared to more mature plays in the United States, analysts and energy executives say.
Many of the exploration and production companies that drill in the Utica are applying the lessons learned from their experiences in some of the larger plays, such as the Bakken in North Dakota, the Marcellus in Pennsylvania and the Barnett and Eagle Ford in Texas.
“The Utica shale is off to a very fast start,” says Chris Simon, managing director of asset acquisitions and divestitures at Raymond James Financial Inc. Although it’s still early in the Utica play, its pace of development meets or surpasses the rate of exploration and production in some of the major shale plays across the country, Simon says.
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