Ohio Marcellus-Utica drilling joint venture formed

Magnum Hunter Resources Corp., Houston, said its Triad Hunter LLC subsidiary formed a joint venture with Eclipse Resources I LP, private State College, Pa., operator, to drill 12 Marcellus shale and 12 Utica shale horizontal wells in 3 years in Monroe County, Ohio.

Working together on 1,950 net mineral acres, Triad as operator and Eclipse expect to lay out combined capital costs of more than $200 million on the program. Each company will own a 47% working interest. Private parties hold the rest.

Eclipse has agreed to commit its share of production from the contract area to a new pipeline system under construction by Magnum Hunter’s Eureka Hunter Pipeline LLC subsidiary.

Magnum Hunter said its geological interpretation of the area indicates the potential to yield not only high volume wells in the Utica shale and that the area is located in the liquids-rich regime of the Marcellus shale. Triad Hunter has drilled two successful Marcellus wells adjacent to the properties.

Treacherous terrain in the area points to a need to minimize the collective footprint by forming partnerships to maximize drainage of the leasehold position, Magnum Hunter said.

Related Articles

Tethys reports second successful gas well in Kazakhstan

03/20/2014 Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian regio...

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/19/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

CNOOC makes gas discovery in Qiongdongnan basin


CNOOC Ltd. has made a natural gas discovery in the east Lingshui Sag of the deepwater area in the South China Sea’s Qiongdongnan basin.

Cairn, FAR to drill exploration wells offshore Senegal


FAR Ltd., Perth, will participate in the drilling of two deepwater exploration wells offshore Senegal next month.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected