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  • Unconventional Oil & Gas

    Shale plays first come to mind when one considers unconventional resources. These unconventional resource plays may yield natural gas, gas condensates, and crude oil. Some of the more noteworthy shale plays in North America include the Bakken, Eagle Ford, Marcellus, Fayetteville, Woodford, Niobrara, Haynesville, Horn River, and Utica formations. Tight gas, coalbed methane, oil sands, and heavy oil are non-shale unconventional resources.

    SECTIONS

    Eagle Ford | Marcellus | Cline | Permian | Utica | Bakken | Woodbine & Eaglebine

    Utica Shale

    Utica Shale Description ImageThe Utica shale formation is one of the newest natural gas discoveries in North America. It is located in New York state and the Canadian province of Quebec, along the St. Lawrence River Valley. Some geologists have suggested the gas-bearing formation extends as far south as Pennsylvania. The other major shale formation in this area is the better-known Marcellus shale.

    Estimates of natural gas deposits in the formation range from a low of about 2 trillion cubic feet (tcf) to a high of 60 to 70 tcf. At this time, most companies active in the Utica shale are drilling exploratory wells on the Canadian side of the border because the state of New York has been reluctant to grant drilling permits to date. Some production rates have tested up to 1 million cubic feet per day.

    Utica Shale Map

    Utica Shale News

    JV streak continues as Chesapeake completes US$2.32B Utica Shale deal with Total

    Jan 4, 2012

    Building on its existing relationship with French oil major Total, Chesapeake Energy Corp. completed yet another joint venture to continue its progress developing unconventional resources—this time in the Ohio portion of the Utica Shale play.

    Ohio Department of Natural Resources: Utica may be one of the lowest cost shale plays

    Dec 13, 2011

    Initial drilling in the Utica is still centered around eastern Ohio, in the wet gas window, but activity could push westward as the oily window is better defined, noted Christopher Perry, the Energy Group Supervisor of the Ohio Department of Natural Resources’ Division of Geological Survey in a conference call hosted by Stifel Nicolaus last week.

    Slated for Utica drilling, Chesapeake closes additional $750M in funding

    Dec 5, 2011

    Chesapeake Energy Corp. has closed $1.25 billion of perpetual preferred shares of its wholly owned, unrestricted subsidiary, CHK Utica LLC.

    Gulfport plans equity offering to fund Ohio Utica Shale development

    Nov 29, 2011

    To help fund its Utica Shale drilling and development plan, Gulfport Energy Corp. has announced plans to offer five million shares to the public, of which four million will be new shares and one million will be offered by an individual stockholder.

    CONSOL, Hess close on Ohio Utica Shale deal

    Oct 24, 2011

    CONSOL Energy Inc. has closed on its previously announced agreement with Hess to jointly explore and develop CONSOL's nearly 200,000 Utica Shale acres in Ohio for aggregate consideration to CONSOL of approximately $594 million.

    Babst Calland opens office in Charleston, WV

    Oct 14, 2011

    The law firm of Babst Calland has opened an its newest office in Charleston, West Virginia at the United Center on Virginia Street East.

    Cash from Eagle Ford deal should allow Carrizo to build on Utica Shale partnership with Avista

    Sep 30, 2011

    Building upon the existing relationship Carrizo Oil & Gas Inc. has with private equity firm Avista Capital Partners in the Marcellus Shale, the two companies have just announced a joint venture agreement to acquire and develop acreage in the Utica Shale.

    Chesapeake's latest Utica Shale well peak rate nearly three times initial report

    Sep 28, 2011

    Today, oil and natural gas company Chesapeake Energy disclosed peak rates from four Utica Shale wells in eastern Ohio and western Pennsylvania, three in the wet gas window and one in the dry gas window.

    Ohio study shows Utica Shale will create significant job growth

    Sep 20, 2011

    Providing further evidence that Ohio is on the cusp of a possible economic oil and gas boom, the Ohio Oil & Gas Energy Education Program (OOGEEP) has released an economic impact study that shows how the state’s petroleum industry is positively impacting Ohio’s economy today and includes the first comprehensive research into how planned oil and gas development in the Utica Shale formation might impact the state over the next five years.

    Entrance into Utica Shale brings eyes back to PDC Energy

    Sep 8, 2011

    Hess adds to Utica Shale position with acquisition of Marquette Exploration

    Sep 8, 2011

    New York-based Hess Corporation said Sept. 8 that it has acquired privately-held Marquette Exploration LLC and other leases in Ohio’s Utica Shale, boosting its acreage position by 85,000 net acres at a cost of approximately $750 million.

    Chesapeake's first horizontal Utica result offers promising start to the play

    Sep 8, 2011

    Chesapeake Energy's first horizontal Utica Shale well, the Buell #8H, tested 6.5 MMcfepd (6.2 MMcfpd of natural gas and 59 bopd of condensate).

    Hess and CONSOL form JV to develop Utica Shale

    Sep 7, 2011

    On Sept. 7, Hess Corporation said it had formed a joint venture agreement with CONSOL Energy Inc. to acquire a 50% interest in CONSOL’s nearly 200,000 acres in the Utica Shale in eastern Ohio for aggregate payments of $593 million.

    Utica Shale acreage values trending higher

    Aug 3, 2011

    Recent Utica Shale activity is trending upward and it appears valuations in the area are on the rise as well.

    Chesapeake Energy confirms hype surrounding Ohio Utica Shale

    Jul 28, 2011

    Chesapeake Energy released its second quarter 2011 financials July 28, and with the release came confirmation from the oil and natural gas producer that it believes the liquids-rich Ohio Utica Shale to be economically viable.

    ConocoPhillips CEO on shale boom: We've only scratched the surface

    Technology innovation has expanded the world’s energy resource base and the oil and gas industry will continue to working to supply that growth, said ConocoPhillips (NYSE:COP) chairman and CEO Ryan Lance.

    ©2014 Michael Stravato. Provided courtesy of the James A. Baker III Institute for Public Policy, Rice University.

    Read the full article here. 


    US tight oil production averaged 3.22 day MMbbl/d in 4Q13, according to US EIA estimates. This level was enough to push overall crude oil production in the US to an average of 7.84 MMbbl/d, more than 10% of total world production, up from 9% in the fourth quarter of 2012. Read more here

    Can the shale gas rBart Willigers, Palantir Solutions Ltd. evolution currently taking place in the US be repeated elsewhere? Although significant volumes of unconventional gas deposits are present in Poland, France, Germany, Hungary, Sweden, Turkey, and the UK, shale gas developments are running many years behind their counterparts in the US. Skeptics have pointed out that differences in geology, taxes, public acceptance, environmental regulations and other factors in Europe vs. the US make for a tougher environment in which to develop unconventional resources. 

    Read the article by Bart J. A. Willigers of Palantir Solutions Ltd. here

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