Tag : Utica

Written by
about Drilling and Producing + Leases
on October 28, 2013

Notes from the Utica – October 2013

We have been quite busy since our last update.  Most -if not all- of the most valuable lands have already been leased, and energy companies have essentially staked out their positions.  An incredible 169 wells are currently producing from the Utica shale in eastern Ohio.  Chesapeake Energy is far and away the biggest producer in the region, as they operate 114 of these 169 wells.  The lion’s share of these producing wells are in Carroll county.  Carroll saw such a boom due to its underlying geology, but also because it had never seen significant oil and gas development.  As a result, energy companies like Chesapeake did not need to navigate around already existing wells and older leases: it had a relatively blank canvas with which to operate.…

Continue Reading

Written by
about Drilling and Producing
on December 10, 2012

Notes from the Utica – December 2012

Since my last update in July, I have perceived a trend of a southward movement of the Utica play. There
is presently a good deal of leasing activity in Belmont, Harrison, Noble and Guernsey Counties. Word
is that some of the best wells to date have been drilled in that area. Certainly, Carroll County and
Columbiana Counties are seeing large numbers of wells drilled, but leasing there is not as active as it
once was; companies are primarily focused on filling in planned drilling units and not much interested in
taking random leases. The basic attitude seems to be – ‘don’t call us, we’ll call you if we need you.’…

Continue Reading

Written by
about Drilling and Producing + Leases + Pipelines
on July 4, 2012

Notes from the Utica – July 2012

Six months ago I wrote an update on Ohio oil and gas leasing. Since that time, lease activity in Ohio has changed somewhat. New Utica wells continue to be drilled, but it can take a while to learn about their production capabilities. Some of these wells will be drilled and left alone for a period of at least  4 weeks. This is done for geological reasons and has to do with the pressure of the reservoir. Drilling companies also like to keep the success of their wells secret lest they inform their competitors of valuable drilling strategies. For the most part, the same energy companies I mentioned in January are still around: Chesapeake, Devon, Hillcorp, Shell, Anadarko, Hess, Gulfport, Consol, and XTO (Exxon).…

Continue Reading

Written by
about Leases
on January 4, 2012

Notes from the Utica – January 2012

In the last six months we have seen a lot of changes in the oil and gas leasing game. More wells have been drilled and more data about the Utica Shale is now available. This has created a lot of buzz in the oil and gas world. There has been a real surge in interest by many oil and gas companies. There are new “hot” counties where lease prices have escalated substantially, while other counties are of less interest to the oil and gas companies. More companies are moving into this play every week. Major companies now include: Chesapeake, Devon, Hillcorp, Shell, Anadarko, Hess, Gulfport, Consol, and XTO (Exxon).

…

Continue Reading

Written by
about Drilling and Producing + Leases
on June 22, 2011

Notes from the Utica – July 2011

Oil and gas leasing in Ohio has continued at a rapid pace. Columbiana County, Jefferson County, Mahoning County, Caroll County, Stark County and Harrison County continue to generate signing bonuses in the $2,000/acre and up range, with prices in Harrison County (where a rumored huge well has been drilled) reportedly hitting over $3,000 per acre. Outside of that core area, in Trumbull County, Portage County, Summit County, and Tuscarawas County, activity is pretty brisk, but at lesser per acre amounts. Going beyond those counties, we are seeing new entrants, besides Chesapeake Energy, into the Utica shale play who are leasing in Medina County, Ashland County, Wayne County, Holmes County, Coshocton County, Belmont County and other areas.

…

Continue Reading

Written by
about Drilling and Producing + Leases
on November 8, 2010

Notes from the Utica – November 2010

During the summer of 2010, the oil and gas leasing situation in Ohio changed markedly. Prior to this point in time, oil and gas leasing and drilling in Ohio was conducted primarily by smaller, local companies. In 2010, an influx of larger companies changed the oil and gas landscape in Ohio. The primary company behind this move was Chesapeake Energy — a huge oil and gas producer based out of Oklahoma. Another large company, East Resources (recently purchased by Shell Petroleum) has also made a move into Ohio. Other out of state companies of varying size have also begun leasing — seemingly following at Chesapeake’s heels.…

Continue Reading