- Chesapeake drilling strong in Carroll, County, OH. Chesapeake is talking about aggressive drilling program in Carroll County. There are currently 7-8 rigs in Carroll County and Chesapeake expects to have 12-14 by the end of March and 20 rigs by the end of 2013. We’ve heard Chesapeake’s having 20 rigs in OH by the end of the year before. It looks like it could happen.
- EQT has aggressive drilling in 2013. EQT will continue to spend aggressively in the Marcellus in 2013, well in excess of its operating cash flow, which likely indicates that the company sees compelling returns in the current commodity price environment. EQT plans to drill 153 wells in 2013 on its 530,000-acre leasehold position in the Marcellus, with projected average drill & complete cost of $6.1 million and EUR of 7.3 Bcfe per well. Almost 90% of the wells will be drilled in the Southwest corner of Pennsylvania and the adjacent area in West Virginia.
Joseph F. Barone