JKLM has drilled and is producing the 1st ever Utica Well in Potter County, PA. January results were 9.2 mmcf / day for 24 days, Feb production was 9.8 mmcf / day for 29 days. This is the Sweden Valley 103 2HU well in Summit Township in Potter County.
JKLM is owned by Mr. Terry Pegula, a very successful and well-known operator and ex-CEO of East Resources. Shell bought out East Resources in 2010 for approx. $4.7 billion. JKLM has accumulated 100,000+ leasehold acres in Potter County, PA.
JKLM currently has five approved well pads in Potter County; 2 in Summit Township, 2 in Sweden Township, and 1 in Ulysses Township with a total of 16 active well permits in place.
Shell has found much success in the Northern Utica in Tioga County PA. Travis Peak is now drilling in Tioga as well. Seneca Resources has also found success in the Northern Utica in McKean County, PA. The question is no longer is the Utica present and commercially viable in North Central PA, the question now is how large is the Northern Utica and how prolific will the wells be as exploration continues.
JKLM’s success matches the success that I’ve heard about Shell’s and Seneca’s Utica wells in Tioga County, PA.
No one ever thought that Northern PA would be a Utica Shale play. While it’s in the embryonic stage, it will be interesting to see how it unfolds.