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  • norrishappy norrishappy Nov 26, 2012 9:38 AM Flag

    OT - Utica Rig Count DOUBLES YTY

    Good morning Sand,

    Utica is TINY compared to the Bakken.

    I would add the Utica so far has been a big disappointment as far less oil than hoped. Given the discount of ngls to oil and the economic sensitivity with no way to effectively hedge Utica is no longer a hot area.

    Maybe some one will find real whole oil and turn it around. But it was a huge disappointment for Chesapeake which hoped to get oily there.

    The relatively small rig count is very likely to fall if some one does not find oil. Just as drilling activity in M is slowing down. Falling train loadings of fracturing sand and such to M confirm the decline.

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