http://www.rbnenergy.com/utica-oil-bust-a-wet-gas-play-with-plenty-...

Can't tell if someone else has already posted this link. 

an excerpt:

And the downside, if there is one, to that production surge is that – as suggested by Gulfport’s early results – it will not just include natural gas and NGLs but also significant volumes of condensate. Not that condensates are a bad thing – its just that their value seems to be generally misunderstood -- by producers, refiners and especially by analysts. . Condensates seem to be like problem children. As we have discussed many times in RBN blogs, condensates are variously lumped in with crude production from oil wells and with NGL production from gas wells (see Fifty Shades of Condensate Which One Did You Mean?). The reality is that in shale basins where the liquids output from gas wells is as high as it appears to be in the Utica, condensate has to be recognized for what it is and handled as a product its own right. Unfortunately that means the infrastructure challenge in the Utica is not just one of building pipelines and plants to process natural gas and NGLs. A whole other set of infrastructure is also needed to process and market the large volumes of lease condensate being produced from wet gas wells.

So Utica producers in the wet gas window of the play now find themselves having to install condensate-processing equipment at the wellhead in the form of stabilizers. That is because so much of the Utica liquids production consists of very light condensate that has an unusually high Reid vapor pressure (RVP - an indicator of the level of volatile compounds in hydrocarbon liquid see Regulatory Gas Pressure Party for a fuller explanation). That RVP level has to be reduced to meet pipeline specifications before the condensate can be shipped to market