Utica Shale development update

Utica Shale development update

Analysts say that the Utica Shale, nearly equal to the size of the Eagle Ford, could become the third-largest shale play in the US, producing as much as 250,000 to 500,000 barrels of oil a day. The Ohio Department of Natural Resources estimates that the Utica’s potentially recoverable reserves could range from 3.75 TCF of gas and 1.31 billion barrels of oil to 15.7 TCF gas and 5.5 billion barrels of oil.http://www.ogfj.com/articles/2012/10/utica-shale-development-how-do-early-stage-characteristics-equate-to-other-north-american-shale-plays.html USGS says Utica Shale development could require 127,500 wells The drilling and oilfield services industry should be pleased with the first assessment of oil and gas reserves in the Utica Shale play by the US Geological Survey, which indicates that extraction of the reserves would take approximately 110,000 wells in the gas window and another 17,500 wells in the oil window. http://www.ogfj.com/articles/2012/10/usgs-says.html?cmpid=EnlOGFJOctober232012.html How shale tilts the scale The discovery of shale deposits and the relatively low cost of extracting it have created a glut of natural gas. Those at the upstream end of the gas value chain must adapt production processes in the short term to deliver shale gas cost-effectively in a saturated market while developing competitive advantage for the longer term. http://www.ogfj.com/articles/print/volume-9/issue-10/departments/capital-perspectives/how-shale-tilts-the-scale.html?cmpid=EnlOGFJOctober232012.htm looking for unconventional resource maps? Look no further than the UR Center on OGFJ.com. There you'll find location, facilities, and infrastructure maps of oil and gas plays throughout North America. Get the information you need to make informed business decisions about the Eagle Ford, Barnett, Haynesville, Marcellus, Bakken, Woodford, and more. http://www.ogfj.com/unconventional.html