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Tuesday, March 17, 2015

Utica Shale Activity Slows Further Last Week; Rig Count Down Over 50% Since December

It wasn't a very busy week for permitting in the Utica shale last week according to the latest weekly report that the Ohio Department of Natural Resources has released.

Only three new permits were issued, all to Antero Resources for wells at their Turkey Unit in Noble County.

The total number of permits issued now stands at 1,855.  1,393 wells have been drilled and 828 are producing.  The Utica rig count had climbed all the way to 59 on December 17, but it has dropped steadily since then.  The latest report places the rig count at 27, so it has now dropped over 50% in less than three months.

View the report by clicking here.

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