Seneca updates on Marcellus, Utica, California, Kansas

Seneca Resources Corp. has provided an update of its Marcellus and Utica shale play activity and a farmout from Chevron USA Inc. in California.

Seneca has brought on three Marcellus wells on its DCNR Tract 100 in Lycoming County, Pa., two of which utilized a reduced cluster spacing (RCS) completion design. The two RCS wells had peak 24-hr production rates of 13.4 and 14.9 MMcfd of natural gas, and the third well had an 11.3 MMcfd peak.

The company has tested eight wells on Tract 100 to date with IPs ranging from 10.5 to 16.1 MMcfd.

A horizontal RCS completion at the Rich Valley prospect in Cameron County, Pa., peaked at 6.3 MMcfd.

Seneca completed horizontal Utica shale wells Pennsylvania. The Tionesta well in Forest County had all stages successfully completed. The Mount Jewett well in McKean County, as a result of an operational challenge unrelated to reservoir quality, was only partially completed with three frac stages. Both wells are shut-in for 60 days and are expected to go on production in November.

Meanwhile, Seneca reached an agreement in principle with Chevron USA for a portion of Chevron’s assets in East Coalinga field in California. As part of the agreement, Seneca would become field operator in early 2013 and Chevron would retain a royalty on incremental development and full interest in the existing production.

Seneca also has established a position in the Mississippi lime oil play with 9,300 net acres (23,000 gross) in Pratt County, Kan. Seneca will be operator on 4,600 net acres and will have a nonoperating interest on the rest of the net acreage position. The company expects to participate in three to eight horizontal wells in fiscal 2013.

The activity anticipated as a result of these oil property acquisitions is included in the company’s preliminary fiscal year 2013 capital expenditure forecast of $555-710 million and production forecast range of 92-105 bcf equivalent.

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