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

MarkWest, EMG to develop 2-bcfd Utica dry gas gathering system

Aug 13, 2015

MarkWest Energy Partners LP and The Energy & Minerals Group (EMG) are developing a new 2-bcfd dry gas gathering system in the Utica Shale. A fee-based contract with Ascent Resources – Utica LLC, a subsidiary of Ascent Resources LLC will underpin the system, dedicating roughly 100,000 gross acres in northern Belmont and Jefferson counties, Ohio.

Magnum Hunter near closing Utica JV with private equity fund

Aug 12, 2015

Magnum Hunter Corp., Houston, filed US Securities and Exchange Commission documents indicating a tentative letter of intent for a Utica shale joint venture involving an undisclosed private equity fund for $430 million.

EIA: US shale oil output to drop 93,000 b/d in September

Aug 10, 2015

Crude oil production in September from seven major US shale plays is expected to decline 93,000 b/d to 5.27 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). EIA previously projected 91,000-b/d declines for both July and August.

BHI: Boosted by another gain in oil rigs, total US rig count rises 10 units

Aug 7, 2015

The overall US drilling rig count gained 10 units during the week ended Aug. 7 to reach a total of 884 rigs working, according to data from Baker Hughes Inc. A total of 27 units has now gradually come online since the week ended June 19.

Yankowsky named executive VP, COO of Magnum Hunter

Aug 7, 2015

Magnum Hunter Resources Corp. has appointed Keith Yankowsky as executive vice-president and chief operating officer, effective Sept. 1. He will report directly to Gary C. Evans, chairman and chief executive officer.

PwC: Midstream boosts 2Q M&A activity in US oil, gas industry

Aug 5, 2015

The US oil and gas industry experienced an uptick in second-quarter mergers and acquisitions compared with the first quarter, facilitated by heightened interest in midstream deals, according to a quarterly report of announced US transactions with value greater than $50 million.

Gulfport: Utica shale accounts for 97% of overall net 2Q production

Jul 30, 2015

Gulfport Energy Corp., Oklahoma City, reported its second-quarter Utica shale production in Ohio accounted for 97% of its overall net production compared with 79% a year earlier.

MPLX, MarkWest to merge in $15.8 billion deal

Jul 27, 2015

MPLX LP, a Findlay, Ohio-based master limited partnership (MLP) formed by Marathon Petroleum Corp. in 2012, and Denver-based MarkWest Energy Partners LP have agreed to a unit-for-unit merger deal in which MarkWest will become a wholly owned subsidiary of MPLX.

EQT reports high IP from Utica dry gas well

Jul 24, 2015

EQT Corp., Pittsburgh, said a deep, dry gas Utica well averaged 72.9 MMcfd with an average flowing casing pressure of 8,641 psi during a 24-hr deliverability test. The well was completed using a 18-stage fracturing job and a 3,221-ft lateral.

EIA: US shale oil production to fall 91,000 b/d in August

Jul 13, 2015

Crude oil production in August from seven major US shale plays is expected to decline 91,000 b/d to 5.36 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). EIA last month also projected a 91,000 b/d decline for July.

MPLX, MarkWest to merge in $15.8 billion deal

Jul 13, 2015

MPLX LP, a Findlay, Ohio-based master limited partnership (MLP) formed by Marathon Petroleum Corp. in 2012, and Denver-based MarkWest Energy Partners LP have agreed to a unit-for-unit merger deal in which MarkWest will become a wholly owned subsidiary of MPLX. The deal, valued at $15.8 billion in stock and cash excluding debt, is expected to close in the fourth quarter.

BHI: US rig count posts first increase in 29 weeks

Jun 26, 2015

Buoyed by respective rises in natural gas-directed and offshore rigs, the US drilling rig count gained 2 units during the week ended June 26 to reach 859 rigs working, marking its first increase in 29 weeks, according to data from Baker Hughes Inc.

American Energy to spin off, rename another unit

Jun 25, 2015

American Energy–Midstream LLC, a unit of Oklahoma City-based American Energy Partners LP (AEP), is transitioning to a standalone company and will change its name to Traverse Midstream Partners LLC. The moves will be effective July 1.

BHI: US rig count continues fall in 27th straight week

Jun 12, 2015

The US drilling rig count declined 9 units during the week ended June 12 to settle at 859 rigs working, according to data from Baker Hughes Inc.

Utica Briefs

Jun 11, 2015

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