Colorado-based PDC Energy Inc. has plans to drill next spring in Ohio’s Washington County. That well will likely be drilled starting in April, the company said in its third-quarter earnings call. The company has drilled two wells in Ohio’s Guernsey County and is pleased with the results. The wells each cost about $9 million.
The first well is in its 60-day resting period; the other is awaiting completion. Results of the flow test from that first well will likely be released in December and the second well should be done in December, PDC said. It is investing $50 million for Utica shale drilling in 2013 and plans to drill five Utica wells in 2013. Its rig is only available for the first six months next year and the energy company is seeking to lease another rig.
The company says it has leased 45,000 acres and most of that land is in the liquids-rich window of the Utica shale.
Joseph F. Barone