Despite Downplaying, Chesapeake Is Still Largest Operator in Utica - and Some Wells have HUGE IP Rates
Chesapeake Energy Corporation operated 13 rigs in Ohio for the week ending October 26, 2012, accounting for nearly half of all operating rigs in the Utica. This compares with only four Chesapeake rigs operating for the week ending October 28, 2011. Of the six other operators that had active rigs in 2011, only one still had an active rig in 2012, indicating that the new drilling for shale oil in the Utica play is being carried out by new operators as well as Chesapeake. Chesapeake accounted for 112 of the 289 new well starts in Ohio recorded year-to-date for 2012, all of which were classified as having both oil and gas potential, according to Bentek.
Gulfport recently brought online its first horizontal well in the Utica Shale, testing at a peak rate of 17.1 million cubic feet ("MMCF") per day of natural gas, 432 barrels of condensate per day and 1,881 barrels of NGL per day assuming full ethane recovery or 4,650 BOEPD.