From the press release (with pictures of the flare at the bottom of the post):
WILLIAMSVILLE, N.Y.--(BUSINESS WIRE)--Seneca Resources Corporation (“Seneca”), the wholly owned exploration and production subsidiary of National Fuel Gas Company (NYSE:NFG) (“National Fuel” or the “Company”) has announced initial results from a recently completed well in the Utica Shale formation in Tioga County, Pa.
Seneca recently completed an exploration well, targeted for the Utica Shale formation, on a pad located within its DCNR 007 tract in Tioga County, Pa. The well had a 24-hour peak production rate of 22.7 million cubic feet (“MMcf”) of natural gas per day. The well was drilled to a true vertical depth of approximately 12,200 feet, had a treatable lateral length of 4,640 feet, and was completed over 30 stages.
Ronald J. Tanski, President and Chief Executive Officer of National Fuel Gas Company, stated, “We are very pleased with the initial production results from our first Utica Shale well in Tioga County, Pa. This well, along with wells drilled by other operators in the area, have de-risked the Utica potential of our 10,000 acres on DCNR Tract 007. We estimate resource potential on this tract alone of approximately 1 trillion cubic feet. With these strong results in hand our team is evaluating options to develop this acreage in the next few years, depending on local gas prices and pipeline take-away capacity. We have additional Utica potential not only in Tioga County, but across much of our large Pennsylvania acreage position. Our next Utica exploration well is planned for fiscal 2016."
Here is the press release link:
There's a lot of orange in that flame?
does anyone know what the best Marcellus results in tioga county were?
Gosh this is marvelous news!! It will take years and much higher NG prices, but I cannot wait for them to commence Utica exploration in NW Bradford County. Utica NG is here big time. I'm certain of it!
Tim, thanks for sharing.
Looks like Seneca Resources and SWEPI have firmed up a significant Utica trend, which justifies the recent lease acquisition efforts in Tioga and Potter Counties!
Is there any significant acquisition and/or lease renewal efforts being done by either company south of Rt 6 in Tioga Co. at this time?
My understanding is that Seneca has no leasing going on in either Potter or Tioga Counties. They're sticking with their fee acreage and DCNR leaseholds. Hopefully Greg will know more about Shell's efforts - I believe that they just cut back their active area and offers in both counties to bring them in line with a substantially reduced 2015 budget, But I haven't heard yet exactly what these cuts involve.
Was Shell actively leasing in Potter in 2014? Did they record any leases in Potter?
'Substantially reduced 2015 budget' --- can you factually expand on this statement for the readers?
The Dominion auction will give all of us a data point to better understand what operators value the acreage across the Utica play.
Tim, Here is a great tool that will answer you question about Shell Leasing.
It is free to search.
Here is what I found for Swepi* in Potter in 2014
|MATCHING NAMES||TYPE||DATE RECORDED||MUNICIPALITY||INSTRUMENT #||PAGES||PRICE||CART|
|SWEPI LP||LEASE||DEC 22, 2014||WEST BRANCH TOWNSHIP||201404096||6||$5.75||Add to cart|
|SWEPI LP||LEASE||DEC 22, 2014||WEST BRANCH TOWNSHIP||201404095||6||$5.75||Add to cart|
|SWEPI LP||MISCELLANEOUS - RECORDER OF DEEDS||OCT 10, 2014||POTTER COUNTY||201403222||79||$60.50||Add to cart|
|SWEPI LP||LEASE SURRENDER||JUL 16, 2014||HECTOR TOWNSHIP (NOPO)||201402190||6||$5.75||Add to cart|
|MISCELLANEOUS - RECORDER OF DEEDS||APR 3, 2014||ALLEGANY TOWNSHIP (NOPO)||201400950||5||$5.00||Add to cart|
|MISCELLANEOUS - RECORDER OF DEEDS||APR 3, 2014||HECTOR TOWNSHIP (NOPO)||201400949||5||$5.00||Add to cart|
|SWEPI LP||LEASE SURRENDER||JAN 17, 2014||HECTOR TOWNSHIP (GALETON)||2014001|