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Youngstown Business Journal
2012 Utica Results Show ‘Onset of New Boom'
By Andrea Wood
Friday, May 17, 2013 

YOUNGSTOWN, Ohio – Oil production in the state’s Utica Shale/Point Pleasant formation increased 93% in 2012 compared to 2011, and natural gas production rose by 80%, the Ohio Department of Natural Resources reported Thursday afternoon. While the increases are huge, just 87 horizontal wells were in production in 2012, officials emphasized, and their days in production were relatively few because midstream gas processing infrastructure has yet to come on line. 

Still, the numbers are impressive (CLICK TO ACCESS). The 87 Utica wells collectively produced 12,836,662 cubic feet of natural gas --– wet and dry -- in 2012 and 635,806 barrels of oil (One barrel of oil is equivalent to 42 gallons.). 

“We believe Ohio is now at the beginning of an historic era in oil and gas production, said James Zehringer, ODNR director, as he convened a news conference officials dubbed the “2012 State of the Play” and streamed online. 

"The production from these initial Utica wells make a compelling statement about the staggering amount of oil and gas resources Ohio's shale appears to contain." 

Zehringer praised the regulatory structure his agency oversees and the due diligence state officials performed as exploration companies began securing permits to drill horizontal wells. He then reviewed the 150-year history of Ohio’s oil and gas industry. “We believe we are on the onset of a new boom,” he said. 

“We don’t want to diminish the importance of the vertical an conventional wells," Zehringer said. "A signle Utica well produced as much natural gas as 448 conventional wells." 

Still, he said, “A single Utica well produced as much oil as 312 conventional wells.” 

Horizontal wells in the Utica/Point Pleasant play make up only 0.2% of all the wells producing oil and gas in Ohio. But of the 87 Utica horizontal wells put into production in 2012, they collectively produced 12% of all the oil that came out of the state’s ground and 16% of all natural gas, the ODNR director reported… 

Read the rest of the article at the Youngstown Business Journal

 


 
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