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Wednesday, March 5, 2014

Articles Hit On Key Points From 3 Major Utica Shale Drillers' Recent Updates

The Akron Beacon Journal has posted 3 articles that share some of the "tidbits" from recent conference calls with key Utica shale drillers.  Here are some of the points from each, with the links to view more.

Antero Resources (read the whole article here):
It has 20 rigs working and is the most-active driller in Appalachia. It is the most- active driller in the Marcellus with 15 rigs. It is the third-most-active driller in the Utica with five rigs. It is active in Monroe, Noble and Guernsey counties in southeast Ohio. 
To date, 18 horizontal Utica wells are completed and online in Ohio. It intends to drill 41 Utica wells in 2014. It has 65 wells in Ohio, West Virginia and Pennsylvania are  being drilled or are being completed. 
Antero has 11 of the top 12 Utica 24-hour peak rates announced, to  date. 
It is getting 20 to 53 MMcfe/day per well  in the Utica core area. 
Its biggest well is the Yontz 1H well in Monroe County. It is one of the biggest gas-producing well in Ohio. Its 24-hour IPs are 53.3 MMcfe/day gas equivalent rate or 38.9 MMcf/day for wellhead gas. It produces 36 percent liquids: 3,177 barrels per day of natural gas liquids and 52 barrels per day of condensate. Its BTU content  is 1161
Company said its “monster” wells in southeast Ohio are producing with 20.5 Bcfe EUR per location.
 Gulfport Energy (read the whole article here):
It says 7 percent of its leased Utica land in eastern Ohio is in the oil window; 25 percent is in the condensate window; 20 percent is in the lucrative wet-gas window; and 48 percent is in the dry-gas window. 
It is running seven rigs in the Utica. It spud 52 gross (30 net) wells in 2013. It expects to spend more than $400 million to drill 50 gross wells in 2014. 
It calls the Utica “one of the most-promising up-and-coming plays in North America.” 
Its horizontal wells produced 10,701 BOE/day in the fourth quarter 2013. 
Company said Utica shale production increased 49 percent from the third quarter 2013 to the fourth quarter 2013. 
Total company production grew by 152 percent in fourth quarter over fourth quarter 2012.
Chesapeake Energy (read the whole article here):
Utica net production averaged approximately 189 mmcfe per day (345 gross operated mmcfe per day) during the 2013 fourth quarter, an increase of 309% year over year and 15% sequentially from the 2013 third quarter. 
During the 2013 fourth quarter Chesapeake operated an average of nine rigs and connected 49 gross wells to sales in the Utica, compared to 11 average operated rigs and 63 gross wells connected to sales during the 2013 third quarter. The average peak daily production rate of the 49 wells that commenced first production in the Utica during the 2013 fourth quarter was approximately 7.7 mmcfe per day. 
As of December 31, 2013, Chesapeake had drilled a total of 425 wells in the Utica, which included 230 producing wells and 195 wells awaiting pipeline connection or in various stages of completion. 
Midstream processing infrastructure build-out delays and operational issues impacted Chesapeake's growth ramp in the Utica during the second half of 2013 and will continue to have an impact to a lesser degree in the first quarter of 2014. As a result of the infrastructure and operational issues, the vast majority of Chesapeake's wells that are connected to sales lines are on restricted choke and have not been producing at full capacity. Service resumed at the Natrium processing plant in January 2014, and assuming the mid-year addition of the third phase of gas processing at the Kensington facility, Chesapeake anticipates that it will achieve net production of 700 mmcfe per day in the Utica by year-end 2014. 


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