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Wednesday, August 20, 2014

EnerVest Expresses Optimism Over Ability to Capitalize on Utica Shale Oil Window

From the Youngstown Vindicator:
EnerVest has found in Tuscarawas and Guernsey counties that by using more water and sand in the fracking process, there can be success in the oil-rich portions of the Utica, McKinney said. 
“Oil has different molecules than gas,” he said. 
Companies were using 200 feet to 250 feet spacing between injections, but for the oil area it needs to be shorter, about 150 feet, McKinney said. 
“It allows the oil to move more freely toward the well bore,” he said. 
If the tests for EnerVest are successful, there will be companies interested in leasing land in Trumbull and Stark counties, McKinney said. Trumbull and Stark counties are thought to be areas with oil-rich shale. 
The sections of the Utica can be divided into the dry-gas area, which is located around Belmont, Harrison and other counties in the southeast part of the state. Then there is the wet-gas area, which includes Carroll County and the sections of Ohio where most of the drilling activity has taken place. Finally, there is expected oil-rich section on the edge of the shale, which no company has successfully exploited at this time. 
The results of EnerVest’s first oil test wells will become public soon with the release of Ohio Department of Natural Resource’s second-quarter production reports. 
The results thus far have shown the new technique will produce economic and even “very profitable” wells, McKinney said.
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