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Tuesday, March 24, 2015

Chesapeake Exec: Next Few Years is When "the Rubber Hits the Road" For Utica Shale

From Columbus Business First:
It's been a bit of a roller-coaster ride for people like Doyle. The first few years of Utica exploration focused on acquiring large swaths of land using the best geological information companies had at that time. Then the relative performance of the area started to be known and the "core" of the play was defined along a corridor of southeastern Ohio around Belmont and Monroe counties. 
"It probably migrated to the south more than some companies anticipated early on," said Doyle, executive vice president of operations for Chesapeake's northern division, "It's a fascinating process, going out there early on, testing it, learning from the rest of the industry and trying to find out how to best develop it." 
After spending so much time working in the Appalachian area, what does Doyle see for the next five years in Ohio? 
It's time for Utica companies to start proving themselves after years of spending big. 
"We're entering into a stage now in Utica development where companies are going to be asked to start delivering results," he said, with the caveat that commodity prices and a continued strain of infrastructure in the area could change plans. The next few years are when "the rubber hits the road." 
"This is where you will be able to separate the weak from the strong," he said.
Read the whole article by clicking right here.

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