New York to get Utica shale exploration

03/24/2008
Gastem Inc., Montreal, took a farmout from Utica Energy LLC, private New York operator, to drill one horizontal and five vertical wells in New York state by Jan. 16, 2009.Gastem will earn a 65% working interest in all 29,000 acres of leases held by Utica Energy and in other leases that may be obtained during the year.Drilling is to start in the second quarter subject to permitting and other approvals. The companies declined to identify the location more precisely.Gastem’s program will target gas in the Upper Ordovician Utica shale formation, already the object of exploration on Gastem’s Yamaska property west of Drummondville, Que., in the St. Lawrence lowlands.Utica Energy dri...
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