Tioga PA: North Central Utica Well Results from Seneca Resources: 22.7MMcf

From the press release (with pictures of the flare at the bottom of the post):

March 05, 2015 04:15 PM Eastern Standard Time

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."

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Permalink Reply by Jack Young on March 10, 2015 at 10:16am

Here's more food for thought - a link to Tim's own efforts to sell his oil and gas rights in Potter County: http://marketplace.m*********************/ads/utica240-acres-ogms/#... You have to wonder when someone talks up a play while they're trying to dump their own holdings. And then has the nerve to accuse others of doing the same thing.

Permalink Reply by Tim on March 11, 2015 at 6:57am

I buy and sell, have never hidden any facts from anyone, Jack.

Can you say the same?  

Permalink Reply by R. East on March 12, 2015 at 5:07am

Thanks Jack..your post's are so accurate and informing!

Permalink Reply by Jesse V. on March 11, 2015 at 2:19am

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