Friday, December 26, 2014

Dec 14-20 a Busy Week in OH Utica Shale Permits

Despite the recent steep slide in oil prices, permits issued in Ohio's Utica Shale looked healthy during the week of December 14-20. The ODNR reported 37 permits issued in total. The permits were issued in 6 different counties and for 7 different operators.

Early indications are that "sweet spots" remain economical and that riskier, more exploratory areas will see increasingly less activity. And with oil bearing the brunt of commodity price decline, gas bearing areas look to be favored. Fracking in oil rich areas also appears to be more of a challenge. A well-written article on the topic of the challenges of tapping the more oil rich regions can be found here.

Harrison County lead all counties with 13 permits issued for the week, followed by Belmont (7), Noble (6), Guernsey and Monroe (4), Carroll (3). Chesapeake led all operators with 12 new permits, followed by Eclipse (8), American Energy (6), Gulfport (3), Carriz (3), Rice (3), Antero (2)

Belmont County (7)
Goshen Township (3), Rice Drilling
Washington Township (3), Gulfport Energy
Richland Township (1), American Energy

Carroll County (3)
Fox Township (2), Chesapeake Exploration
Lee Township (1), Chesapeake Exploration

Guernsey County (4)
Richland Township (3), Carrizo
Millwood Township (1), Chesapeake Exploration

Harrison County (13)
North Township (8),  Chesapeake Exploration
Nottingham Township (5),  American Energy

Monroe County (4)
Adams Township (2), Eclipse Resources
Franklin Township (2), Antero Resources

Noble County (6)
Marion Township (6), Eclipse Resources

Map showing new permits, red indicates wells already drilling.