Saturday, August 16, 2014

Ohio Counties with the Most Impressive Utica Production

In each of the last five quarters (Q1 2013 to Q1 2014) the Ohio DNR released production data for Utica / Point Pleasant wells. The data included the county and the number of "producing days" for each of the wells in the county. Combining all the producing days for all of the wells in a county gives us the numbers in the chart below.

Total producing days in a county = the total number of producing days for all wells in a county combined.

Carroll County
Carroll County is noted as leading by a wide margin in the number of well producing days, representing approximately 56% of the total. Other counties should make gains on Carroll county going forward given the shift in permitting and drilling activity. In the recent August 9, 2014 Ohio DNR report, Harrison, Noble, Guernsey, and Monroe, each showed more than twice the drilling activity of Carroll County.

Chesapeake does appear to be seeing some nice profits in their Carroll county wells and are drilling at a steady clip. In the Q1 2014 data we see that the six Putnam wells in Union Township in Carroll County showed nice initial production. The first 53-67 days of production show an average of ~200-250 Barrels of Oil per Day. As a result, I don't see Chesapeake slowing down Carroll County drilling anytime soon.

Carroll County, Data Source Ohio DNR

Noble County
Though many of the Noble County wells are showing even more impressive oil production results with the Antero wells below averaging 630 to almost 1,000 Barrels of Oil per Day in the first 32-68 days of production.

Noble County, Data Source Ohio DNR

Harrison and Guernsey Counties
Some of the Harrison and Guernsey County wells are also putting up some nice numbers, showing around 500 Barrel Per Day of production the first two or three months that they come online. Some Gulfport, Hess, Carrizo wells in those counties are seeing the 500 BOPD production numbers.

Monroe and Belmont Counties
Monroe and Belmont Counties, while not showing much oil production, are showing some of the most prolific gas production.

Single well production records to come
The technology mix and process used to exploit the wells is evolving so we should expect to see production records broken as operators learn more and hone their methods of exploiting the Utica / Point Pleasant play in Ohio. Stay tuned.