Utica Shale

Utica Shale Description ImageThe Utica shale formation is one of the newest natural gas discoveries in North America. It is located in New York state and the Canadian province of Quebec, along the St. Lawrence River Valley. Some geologists have suggested the gas-bearing formation extends as far south as Pennsylvania. The other major shale formation in this area is the better-known Marcellus shale.

Estimates of natural gas deposits in the formation range from a low of about 2 trillion cubic feet (tcf) to a high of 60 to 70 tcf. At this time, most companies active in the Utica shale are drilling exploratory wells on the Canadian side of the border because the state of New York has been reluctant to grant drilling permits to date. Some production rates have tested up to 1 million cubic feet per day.

Utica Shale Map

Utica Shale News

Gulfport Energy to acquire Paloma Partners III

Apr 16, 2015

Gulfport Energy Corp., Oklahoma City, has agreed to acquire Paloma Partners III LLC, Houston, for $300 million. The deal is expected to close in the third quarter.

Williams to buy more of Utica East

Apr 6, 2015

Williams Partners LP agreed to buy an additional 21% interest in Utica East Ohio Midstream LLC from EV Energy Partners LP for $575 million.

OOGA focused on developing more markets for Utica gas

Apr 1, 2015

The development of markets for Utica gas is a priority for recently appointed Ohio Oil and Gas Association’s Executive Vice-President Shawn Bennett.

Antero delays Marcellus well completions, stays highly hedged

Apr 1, 2015

Antero Resources Corp. of Denver is slowing completions this year after placing 415 horizontal wells total on stream in the Marcellus and Utica shale plays since 2009, and the company calls itself among the most highly hedged US exploration and production companies currently.

Marathon moving forward with Cornerstone pipeline

Apr 1, 2015

Marathon Pipe Line LLC (MPL) and Ohio River Pipe Line LLC (ORPL) launched a binding open season to assess interest and solicit shipper commitments for transportation service on the proposed Cornerstone pipeline and associated Utica shale build-out projects earlier this year.

Marcellus Briefs

Mar 31, 2015

BHI: US rig count down in 14th straight week, loses 67 units

Mar 13, 2015

The US drilling rig count plunged 67 units—64 on land and 56 targeting oil—to settle at 1,125 rigs working during the week ended Mar. 13, according to data from Baker Hughes Inc.

Magnum Hunter names reservoir engineering vice-president

Mar 5, 2015

Magnum Hunter Resources Corp., Houston, has appointed Charlie Gibson as vice-president of reservoir engineering, effective. He will report to Gary C. Evans, chairman and chief executive officer.

Antero Resources cuts 2015 Marcellus spending vs. 2014

Feb 26, 2015

Antero Resources Corp., Denver, said it plans to spend $1.6 billion during 2015 for drilling and completion activities in the Marcellus and Utica shale plays, marking a 36% reduction as compared with 2014 drilling and completion expenditures.

Chesapeake’s $4-4.5 billion capex down 37% vs. last year

Feb 25, 2015

Chesapeake Energy Corp., Oklahoma City, is budgeting total capital expenditures, including capitalized interest, of $4-4.5 billion for 2015.

Magnum Hunter slashes budget by 75%

Feb 18, 2015

Magnum Hunter Resources Corp., Houston, plans a $100 million upstream capital expenditure budget for 2015, down from the $400 the company planned for 2014.

Pennsylvania contemplates tax hikes to fix $2 billion deficit

Feb 10, 2015

A severance tax on unconventional natural gas development and production is likely to be part of Pennsylvania Gov. Tom Wolf's scheduled Mar. 10 budget address.

Utica briefs

Feb 10, 2015

Maryland moves forward on fracturing regulations

Feb 10, 2015

Maryland state officials planned to draft regulations that would allow hydraulic fracturing in the Marcellus shale in West Maryland provided that natural gas producers abide by certain stipulations limiting the risks of water contamination and air pollution.

Fracturing becoming a common municipal ballot item

Feb 10, 2015

Various municipalities, including Denton, Tex., have banned or sought to ban hydraulic fracturing through ballot issues while some states such as New York have imposed moratoriums, citing environmental issues or health concerns.

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