Monday, December 30, 2013

Utica Shale drilling activity = Where the money is

Bets are made at the bit
There is no better indicator of where operators believe that the Utica Shale holds the most promise of financial return than is indicated by where those operators are drilling. At about 5 million needed to drill a well and 106 Utica / Point Pleasant wells currently drilling in Ohio, we are looking at roughly 530 million dollars in current bets. The map of wells drilling below shows were those best are being made.

Things can change over time and there is still a great deal unknown about the Utica, but a clear trend is visible. Access to infrastructure and other factors also contribute to drilling locations, but infrastructure is also dictated by drilling locations.

Map of Utica / Point Pleasant Wells Drilling as of 28 December 2013.
Note: click on the map symbols to see operators, well names, counties, townships, and more. A total of 106 wells are being drilled as of the December 28 Ohio DNR report. Zoom in for greater map detail and to distinguish wells that are very close to each other.