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  • rlp2451 rlp2451 Nov 28, 2012 12:22 PM Flag

    OT - Utica Rig Count DOUBLES YTY

    By any industry measure, the Utica is in the early stages of development, said Walker, Enervest CEO. The Barnett shale in North Texas has produced commercially for at least 10 years. To date, more than 16,000 wells have been drilled in the Barnett and the reservoir has made nearly 11 trillion cubic feet (Tcf). In contrast, across the Utica play, 438 wells have been permitted and 173 wells have spudded, and total production is less than 10 billion cubic feet (Bcf). However, the resource potential of the Utica is outstanding, said Walker. The Barnett is estimated to contain 20 Tcf of resource potential, and the Utica is half again as large as that, at some 30 Tcf.

 
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