Utica Shale – Oil & Gas 360

Energy Market Upside: EQT Corp. Welcomes 2016 with $1 Billion CapEx Plan—Self-Funded

December 10, 2015

The oil and gas market is approaching the end of 2015—which will no doubt go down as a highly tumultuous year for the industry. In spite of the dive in oil prices, some companies have positioned themselves well for capturing the upside through advantageous acquisitions, reliable takeaway capacity, attractive hedges and low-cost production. Or a combination of factors. Today’s focus

PDC Energy Gallops Wattenberg Program to 84% YoY Overall Production Increase

November 6, 2015

Drilling Program Shifting to Plug-n-Perf Completions PDC Energy (ticker: PDCE) may be, generally speaking, in the early stages of its development of the Wattenberg Field. However, its rapid growth while maintaining a sturdy balance sheet can be matched by few in the industry. Only two companies in the coverage universe of Capital One Securities are in position for 35% growth

Range Resources: The Appalachia’s Early Mover Sets Stage for 2016

October 29, 2015

Vital Pipeline Startup will Result in Increased Margins Range Resources (ticker: RRC) is well-established as a low cost producer (its three-year finding and development costs rank fifth among 87 peers in EnerCom’s E&P Weekly Benchmarking Report), but that doesn’t mean there isn’t room for improvement. In the last four years, Range has exploited its Appalachia acreage (now in the neighborhood

Antero Resources: Utica Success Pushes YoY Growth Forecast to 25%-30% for 2016

October 13, 2015

Utica Accounts for 25 of Antero’s 31 Drilled Wells in Q3’15; Up to 50 Deferred Completions Figure in 2016 Guidance Management of Antero Resources (ticker: AR) believes the company can achieve year-over-year growth of 25% to 30% in 2016, based on preliminary targets released in an operations update on October 13, 2015. The significant jump is planned on top of

Marcellus, Utica Driving 85% of Shale Gas Growth Since 2012

July 28, 2015

Per well efficiencies up 2.6x in the Marcellus and 22.3x in the Utica since 2012 Increased productivity of natural gas wells in the Marcellus and Utica Shale basins is responsible for 85% of increased natural gas production in the United States since 2012, according to the Energy Information Administration (EIA). Natural gas from shale basins is now responsible for 56%

Gastar Exploration’s Second Utica Well Returns 36.8 MMcf/d

June 30, 2015

High Rates Continue from the Dry Gas Window On June 30, 2015, Gastar Exploration (ticker: GST) reported its Blake U-7H well located in the dry gas Utica Shale region of Marshall County, West Virginia, produced at a peak 48-hour gross rate of 36.8 MMcf/d. On a restricted flow basis, its post peak rate 30-day production averaged 20.2 MMcf/d. Gastar holds

Utica Shale Review: The Evolution of a World Class Shale Play

June 17, 2015

“Unlocking the key” to unconventional plays is a popular moniker in today’s oil and gas market. Among the trickiest of plays to master is the Utica Shale, located across Maryland, New York, Ohio, Pennsylvania, Virginia and West Virginia. The Utica lies beneath the Marcellus Shale, which was first discovered in 2004 by Range Resources (ticker: RRC), and has roughly matched

PDC Energy Leaps to a Fast Start in 2015

May 26, 2015

JRCO: “One of the Best Multiple/Growth Propositions in Energy” Roughly one month after its 2015 Analyst Day, PDC Energy (ticker: PDCE) released its first quarter results for the fiscal year in a press release on May 7, 2015. The Denver-based E&P reported net income of $17.1 million, or $0.46 per share, compared to a net loss of ($2.1 million) in

Gulfport Energy Expands Utica Position with $300 Million Acquisition

April 16, 2015

GPOR Offers Stock, Debt to Finance Purchase of Paloma Partners Gulfport Energy (ticker: GPOR) has increased its Utica Shale footprint to approximately 212,000 gross leased acres (208,000 net) with the purchase of 24,000 net nonproducing acres in Belmont and Jefferson Counties from Paloma Partners III, LLC. As announced in a news release on April 15, 2015, the sale has a

Southwestern Energy Continues Appalachia Acquisition Spree with $394 Million Deal

December 23, 2014

One day after closing on its $4.975 billion acquisition for 413,000 net acres in West Virginia and southern Pennsylvania, Southwestern Energy (ticker: SWN) spent another $394 million to increase its working interest. On December 23, 2014, SWN secured a 20% stake of Statoil’s (ticker: STO) remaining working interest, which equates to 30,000 acres and 29 MMcfe/d net to Southwestern. The

American Energy Partners Update: What is McClendon Up to Now?

October 30, 2014

Aubrey McClendon has had little time off since his publicized ouster from his first E&P empire (Chesapeake Energy – ticker: CHK). Since founding American Energy Partners (AEP) in April 2013, McClendon has quietly amassed acreage in several major North American plays. AEP’s structure has expanded to a platform with subsidiaries named for their respective basins: the Marcellus, Permian, Utica and

An OAG360® Exclusive Interview: Magnum Hunter Resources CEO Gary Evans Discusses Operations in Appalachia

October 26, 2014

The month of September was one for the record books for Magnum Hunter Resources (ticker: MHR). The Marcellus/Utica E&P reported initial production of 46.5 MMcf on its Stewart Winland 1300U well – the highest flow rate of any well to date in the Appalachia region. Eureka Hunter, its midstream division, also set a new company record of 316,500 MMbtu/d in

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