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Facts & Rumors 10 August 14, 2012

As some of the oil and gas companies reported quarterly earnings from which we were able to gather information regarding drilling results, future drilling and rig information.

The latest facts and a rumor from the Marcellus and Utica Shale.

  • Information from Devon Energy -- Devon executives said last week on their earnings conference call that they were abandoning efforts on wells 70 miles to the west of Carroll County in Ashland and Medina counties because they weren't going to be profitable. Devon did not provide any production data for the Eichelburger 1H or the Richman Farms 1H.

"We were committed to really drilling wells that are going to meet our economic thresholds," Executive Vice President for Exploration and Production David Hager told analysts. "The first two wells were disappointing, but it was on the far northwestern part of our acreage."

In addition to a well currently being drilled in Knox County in the southwestern corner of the shale, Hager said Devon will probably drill five more wells further east and closer to fairway in Jefferson, Harrison, Carroll and Columbia counties, but it will look for oil, not gas.

  • Gulfport Energy, of Oklahoma City, reported well results for a single Utica well in Harrison County with its results this week. The Wagner 1-28H had peak flows of 17,100 Mcf/d with 432 barrels of condensate. They plan to put the well into production at 10,000 Mcf/d with 110 b/d of NGLs form the condensate.

Gulfport is running two rigs in the Utica and has completed four wells, with another three predicted for the rest of this year. Gulfport's well permits are grouped in a rough triangle in Harrison, Belmont and Guernsey counties, according to state records.

  • Antero Resources, which has at least two wells in eastern Ohio, did not release specific data but the company called its results "encouraging" based on its production of natural gas liquids.
  • Chesapeake now has 11 rigs in OH and expects to have 16 by December 2012.
  • We’ve fortunate to find Utica Shale Maps in Ohio that show where the producers are drilling.  Click on the link for the maps.
  • Baker Hughes Rigs count for the August 3 reporting week. Not much happened this week.  It looks like the rigs are moving from PA to WV and OH.
    • PA Marcellus 68 rigs – down two from the previous week.
    • PA Utica 4 rigs – down 1
    • Ohio Utica 19 rigs – up one
    • WV Marcellus 27 rigs – up two

Call us to give your business a strong presence on the well site, on the pipeline and on the road.

Joe Barone 610.764.1232
Vera Anderson 570.337.7149


PIOGA Eastern Oil & Gas Conference to Showcase Technical, Social and Economic Advancements

Event Will Explore Wide-Ranging Impacts of Shale Gas and Oil Revolution

Exhibitor booths are still available.  The Conference is slated for August 28 and 29 at the Monroeville Convention Center and the adjacent Doubletree Pittsburgh/Monroeville Convention Center

To exhibit and register for the full conference, visit:
Show hours are 9 a.m.-5 p.m. on Tuesday, August 28, and 9 a.m.-4 p.m. on Wednesday the 29.

Utica Summit 2019