Antero's Superb Utica Results

There are some happy royalty owners out there.

Antero Resources drilled five Utica Shale wells since reporting third-quarter earnings. These wells delivered 24-hour peak processing rates of 32.2 MMcfe/d of natural gas. Even better was the fact that 65% of the production from these wells were liquids. Overall, the wells delivered an average of 1,897 barrels per day of natural gas liquids production in addition to 11.2 MMcf/d of dry natural gas.

These wells were even better than the 11 initial wells that Antero drilled into its core area of the Utica Shale. On average those wells delivered 30-day production rates of 445 barrels of NGLs per day in addition to 10.4 MMcf/d of natural gas, with liquids representing an average of 53% of the volumes. While the production from those wells were constrained, it is good to see Antero Resources' latest wells produce really liquids-rich results.

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Permalink Reply by Bill Barnaby on February 7, 2014 at 3:27pm

50% decline the first month.

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on February 10, 2014 at 3:47am

65%

Permalink Reply by Booger on February 10, 2014 at 4:23am

still hard to believe that much decline and still big offers for your minerals.........we see these big IP's and then much lower production..........

one thing i have read in a few places is 30day IP's.........does that mean they go big for a month to get a 30day IP and then choke down?

Permalink Reply by TM on February 10, 2014 at 7:25am

Anymore I tend to not even look at the high IP rates on these wells. The first problem with initial production rates is the use of different periods of time to measure initial production. These huge IP rates that companies report are for only a 24 hour wide open test of the well. Some can be longer like 7 days or even 30 but most are 24 hour.

I would tend to believe a 30 day IP rate for a well is more credible. An IP 90 day rate would be even better. The 30 day rate would show a more stabilized well rate than these high initial IP numbers.

I would imagine most of the wells in the Utica are using some sort of restricted choke. There are not enough pipelines and processing plants yet to run these wells at full rates. Some of the wells I have seen lately that are hooked into a pipeline produce like 50% of what the initial IP rates were.

Permalink Reply by ML on February 16, 2014 at 6:58am

Do the drilling and fracturing companies with their different equipment and techniques have any impact on the ultimate production results of wells?  Do the different companies (Nomac and Patterson to name a couple prominent ones) have/use different equipment and techniques and/or do they have any say in how a well is drilled and fractured?  Or are all of the decisions made by the operator (Antero in this discussion) and the companies providing the drilling and fracturing equipment have no say as they simply provide the equipment and people?

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