Magnum Hunter Releases Quarterly Report, Utica Shale Update

From a Magnum Hunter press release:
Utica Shale 
During the third quarter of 2013, the Company commenced drilling of one gross (0.5 net) well in the Utica Shale on the Stalder pad in Monroe County, Ohio. This well is currently being drilled as part of the Company's 50/50 joint venture with Eclipse Resources, with Magnum Hunter designated as the operator. The Company anticipates this well will reach TVD over the next several days, and then the Company intends to plug back the well and drill an approximate 5,600' lateral. 
Additionally, the Company has completed the fracture stimulation of the Farley well, which is its first Utica Shale well in Washington County, Ohio. As a result of the controlled blowout that the Company experienced during the drilling process, the Company was only able to fracture stimulate 10 of 26 planned stages, primarily due to poor cement isolation behind the production casing. Following the completion of the fracture stimulation, the Company began flow testing the well the week of October 28, 2013 with approximately one-third of the horizontal section open. The well tested at 3.0 MMcfepd. The aforementioned rate assumes full ethane rejection. The Company intends to commence the drilling of a second well on the Farley pad within the next 10 days.
Read the whole press release by clicking here.

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