Frequent readers of this blog know that we follow closely E&P developments in Ohio and around the country. Linked here are a couple of articles we wrote for the November / December 2011 Ohio Lawyer:
The current focus in Ohio is on a formation known as the Utica Shale. Geologists believe that the Utica, which ranges from 6,000-9,000 feet in depth, may have served as the source of much of Ohio’s historical production. Operators are looking at the Utica because of the possibility that it may contain not only natural gas but also crude oil and natural gas liquids (NGLs). The added value of crude oil and NGLs improves the overall economic value of the operations. These additional revenue streams are significant in today’s environment of relatively low natural gas prices and the substantial costs involved in drilling a horizontal well—ranging from $2-$10 million a well.
We hope you find them both interesting and useful.