Dry Utica has its pros and cons
Wednesday, November 11, 2015
Up until now, the concern with the dry Utica Shale is that it is too expensive to drill. Now, Pittsburgh Post-Gazette PowerSource says, it may become the least expensive to drill.
What needs to happen before the Utica wells can be the lowest cost source of gas is for companies to drastically reduce the cost of wells. The average cost for a Utica well is $30 million. Less than 100 Utica wells in Ohio, Pennsylvania and West Virginia have been drilled to date, including several record-setting wells.
Other concerns about the Utica’s potential success are the lack of pipelines to take gas from the formation to other markets and having another successful play like the Marcellus Shale.
Via: Pittsburgh Post-Gazette PowerSource > Utica Shale: The best and the worst?
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