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Wednesday, May 7, 2014

Hess Preparing to Ramp Up Utica Drilling

From Seeking Alpha's transcript of Hess's conference call regarding the 1st quarter of 2014:
Turning to the Utica. The appraisal and early development of our 43,000 core net acres in the Hess CONSOL joint venture continues, and we are encouraged by well results to date with rates averaging 1,800 barrels of oil equivalent per day with 59% liquids based on 24-hour tests.
In 2014, Hess and CONSOL plan to drill some 30 to 35 wells across our joint venture acreage. In the first quarter we drilled 8 wells, completed 3 and tested one well in the joint venture acreage.
You can read the entire (very long) transcript here.  There are several other Utica shale tidbits in there.

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