Silver lining found in Ohio’s Utica Shale
In a corner of the field, wildcatters see shades of Marcellus, analyst says
By Collin Eaton
June 13, 2014 | Updated: June 16, 2014 12:26am
Natural gas, and not oil, has turned out to be the dominant fossil fuel in Ohio’s Utica Shale, a big disappointment to some in the industry. It prompted BP and Halcón Resources Corp. to abandon the play earlier this year.
But Aubrey McClendon’s wildcatting venture, American Energy Partners, and a handful of players are racing to snap up land in the southeastern corner of the play, where operators have found wet gas and high-performing, affordable wells that rival some in the core of the Marcellus Shale, an analyst said at a recent briefing.
“The wells are so strong in the southeast that $4 gas is fine out there,” said Jeanie Oudin, an analyst with Wood Mackenzie. CONTINUE READING..