Energy In Depth's Shawn reports on Antero's Utica Shale activity:

"In January 2013, Antero announced in its corporate budget that it would be investing roughly $150 million in the Utica/Point Pleasant this year, while bringing in two rigs to develop its leasehold.  On Monday, Antero updated its shareholders during a 1st quarter earnings call to inform them of progress-to-date in the Utica.  

Staying true to its word, Antero is now operating two rigs in the wet/condensate window in the southern portion of the Utica/Point Pleasant.  Both rigs are currently located in Noble County, roughly five miles apart in Seneca Township.  The first rig is currently developing a three-well pad at the Milligan Unit located right off route 566, just south of Seneca Lake.  

Antero has also returned the other rig back to the Miley well, a well the company developed last year with tremendous success. The Miley 5H had an initial production rate of seven million cubic feet (mmcf) per day, with a composition of 36 percent natural gas and 64 percent liquids.  Given that mixture, the well had an initial production rate of 3,222 barrels of oil equivalent per day — making it Antero’s best well to date.  

Antero has acreage in Guernsey, Noble, Monroe, Belmont and Harrison counties, comprising a total of 81,000 acres in the wet/condensate window. To date, Antero has completed six wells with one in production and has developed four more with two in different stages of completion.  

The company currently has an estimated 35 million cubic feet equivalent (mmcfe) per day of net production, including approximately 2,300 bbl/d of NGLs and condensate shut in waiting for infrastructure to be built.  

Antero has entered into an agreement with MarkWest to process liquids at MarkWest’s Seneca I plant, which is being constructed near Summerfield in eastern Noble County."

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