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Thursday, July 3, 2014

PD: Utica Shale Beginning to Look Like a Boom

Reaction is beginning to come in from the latest production figures released for the Utica shale by the Ohio Department of Natural Resources.

From The Plain Dealer:
Gas and oil producers are beginning to put the "boom" in Ohio's shale development. 
The 352 horizontal shale wells working in Ohio's eastern counties produced 100 billion cubic feet of natural gas and nearly 3.7 million barrels of oil in 2013, the Ohio Department of Natural Resources said on Wednesday at a special "state of the play" news conference at Stark State College, which offers an extensive oil and gas education and training program. 
ODNR analysts estimated total gas and oil production numbers, including conventional vertical wells, amounted to 171 billion cubic feet of gas and 8 million barrels of oil in 2013. 
Compared to 2012 when only 85 shale wells were producing, gas production increased by 97 percent and oil production by 62 percent, according to state calculations. 
The department also released production data for the first quarter of 2014.
Read more by clicking here.

View our breakdown of the 1st quarter 2014 production data by clicking here.  You can also watch the ODNR's state of the play event right here.

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