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

Carrizo cuts drilling, completion spending by 35%

Jan 27, 2015

Carrizo Oil & Gas Inc., Houston, is cutting its drilling and completion capital expenditure plan for the year by 35% to $450-470 million, but expects to keep oil production roughly flat with last year’s fourth quarter.

Hess cuts capital budget by 16% to $4.7 billion

Jan 27, 2015

Hess Corp. has set a capital budget of $4.7 billion for 2015, down 16% from $5.6 billion spent last year. The company at the beginning of 2014 reported a $5.8 billion budget for the year.

ETP, Regency to merge in $18-billion deal

Jan 26, 2015

Energy Transfer Partners LP (ETP) and Regency Energy Partners have agreed to merge in a unit-for-unit transaction, plus a one-time cash payment to Regency unit holders, valued at $18 billion, including the assumption of net debt and other liabilities of $6.8 billion.

American Energy Appalachia makes executive appointments

Jan 13, 2015

Jeffrey A. Fisher has been named chief executive officer of the newly formed American Energy Appalachia Holdings LLC (AEA), a unit of American Energy Partners LP (AEP).

American Energy’s Utica, Marcellus units to merge

Jan 8, 2015

American Energy–Utica LLC (AEU) and American Energy–Marcellus LLC (AEM), both affiliates of American Energy Partners LP (AELP), will merge in an all-stock transaction. 

Severance tax would backfire, Pennsylvania association leaders warn

Jan 5, 2015

Enacting a severance tax aimed at Pennsylvania's unconventional natural gas activity would substantially harm the commonwealth beyond the industry itself, three oil and gas trade association officials warned.

Southwestern makes $5.4 billion bet on Marcellus

Dec 12, 2014

Southwestern Energy Co. is purchasing Appalachian assets from Chesapeake Energy Corp. in a deal that more than doubles its leasehold in the Marcellus shale and grants it a foothold in an area of the play that is also prospective for the emerging Utica shale.

Stone drills successful Utica exploration well

Dec 10, 2014

Stone Energy Corp., Lafayette, La., reported that its Pribble 6HU well in Wetzel County, W.Va., flowed from a 3,605-ft lateral at 30 MMcfd during the last 24 hr of a 5-day test.

Outgoing Maryland governor moving ahead on fracing regulations

Dec 2, 2014

Maryland Gov. Martin O’Malley plans to propose regulations that would allow hydraulic fracturing in western Maryland provided that natural gas companies adhere to certain restrictions to limit the risks of water contamination and air pollution.

BHI: Gains in Utica, Ohio headline latest US rig count

Nov 14, 2014

The US drilling rig count was up 3 units to reach 1,928 rigs working during the week ended Nov. 14, with notable gains in Ohio and more specifically the Utica basin, Baker Hughes Inc. reported.

Bakken, deepwater Gulf of Mexico to boost Hess’s production

Nov 11, 2014

Hess Corp. plans to increase its production growth rate forecast by 6-10%/year during 2013-18, assuming $90-100/bbl Brent, anchored by production in the Bakken shale and deepwater Gulf of Mexico, the company said Nov. 10 during an investor presentation in Houston.

Sunoco Logistics to move ahead with Mariner East 2 NGL pipeline

Nov 7, 2014

Sunoco Logistics Partners LP, Philadelphia, reported receiving sufficient binding commitments from shippers to move ahead with its Sunoco Pipeline LP subsidiary’s $2.5-billion investment in the Mariner East 2 natural gas liquids pipeline project.

GCA: Falling oil price to have uneven effect on US unconventional plays

Nov 4, 2014

Falling oil prices will have an uneven effect across US unconventional plays based on the qualities of reservoirs within any given play, Gaffney Cline & Associates (GCA) said in a recent report, noting there exists a complex relationship between the pace of shale production and falling futures prices for light, sweet crude oil.

ETP’s Rover gas line reaches full 3.25 bcfd subscribed capacity

Oct 31, 2014

Energy Transfer Partners LP has fully subscribed its Rover pipeline to transport 3.25 bcfd of natural gas through 15- and 20-year fee-based contracts.

BHI: US rig count makes gains in Kansas, modest rise overall

Oct 31, 2014

The US drilling rig count edged up 2 units to reach 1,929 rigs working during the week ended Oct. 31, Baker Hughes Inc. reported.

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