CHK which publically touted the Utica Oil potential two years ago now says it will let others do the drilling. It will stick to the Utica Wet area. This is an interesting development. To me there have been a number of good wells but I have not yet figured out why there is such a difference in the results. The BTU number are not super high but still look like they will throw off a lot of liquids after stripping. I look for more and more action in the Super Wet Marcellus and Upper D formations like the Burkett, Geneseo, and Rhinestreet. The Utica oil window is a major disappointment to me. i thought we had another Bakken.
Perhaps the geology hasn’t been figured out yet. GPOR has been doing well. CNX is still working the Tuscarawas County among others. CHK is pretty much as lost puppy. Can understand when one assumes coming from a guy that is or was getting a percentage for each producing well in his pocket. Plain and simple, oil provides a greater return! RRC may indeed was prudent selling its Ohio assets a few years ago.