Utica Shale Exploration Could End Up Requiring Almost 130,000 Wells to Be Drilled

From American Shale Energy:
The drilling and oilfield services industry should be pleased with the first assessment of oil and gas reserves in the Utica Shale play by the US Geological Survey, which indicates that extraction of the reserves would take approximately 110,000 wells in the gas window and another 17,500 wells in the oil window.
To date, about 144 horizontal wells have been drilled in Ohio, which is where the richest reserves are located. By comparison, about 26,000 wells have been drilled so far in the overlying Marcellus Shale formation, which is generally considered to be about two to three years ahead of the Utica in terms of development.
Read the rest of this article here.

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