A look at EdgeMarc, a drilling company in Utica, Marcellus

By Bob Downing Published: April 11, 2016


From last week's Utica Shale conference in Canton:

From Callum Streeter of privately held EdgeMarc Energy Holdings, a drilling company based in Canonsburg, Pa. It does business as EdgeMarc Energy Pennsylvania and EdgeMarc Energy Ohio.

1. His company has about 53,000 acrtes leased. It si ssprlig nearly 50-50 between the Marcellus and Utica shales.

2. It has 25,000 cares in Butler County, Pa., where 52 wells are being developed. A total of 22 wells are completed there.

3. In Ohio, the company has drilled four wells and completed one in Monroe County and drilled one and completed one in Washington County. It has 12,000 acres in Monroe County and 16,000 acres in Washington County.

4. Financial backers include Goldman Sachs and the Ontario Teachers Pension Fund.

5. Company was founded in 2012.

6. Company has colorful names for its wells. There is a James Bond theme in Monroe County with the Moonraker 2PPH well. There are also wells named Drago, Odd Job and Merlin.

7. Company has 35 employees.

8. It is interested in acquiring leases from the federal Bureau of Land Management in the Wayne National Forest in southern Ohio.

9. Its well completions in 2016 will be dictated by commdity prices.

10. The company is bery pleased with its Moonraker 2PPH well. It is being choked back to extend production. It is producing 9.5 million cubic fete per day or about 3 billion cubic feet per year.

11. Company has cut drilling time from 22 days to nine days.

12. Laterals have grown from 4,000 feet to 7,500 feet.

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