EID's Shawn reports on Magnum Hunter coming to Ohio to develop Ohio's Utica Shale:
"Magnum Hunter Resources is the next company focusing on the Utica-Point Pleasant formation in 2013. The company, based out of Houston, is an independent exploration and production company active in West Virginia, Kentucky, Ohio, Texas, North Dakota, and Saskatchewan, Canada. In the Utica/Point Pleasant, Magnum Hunter will be developing a minimum of 4 test wells this year through its wholly-owned subsidiary, Triad Hunter, LLC.
Magnum Hunter Resources first test well will be developed in Washington County in late February or early March. This will be the first Utica-Point Pleasant well developed in Washington County. The Farley Pad will have the capability to host 4 separate laterals.
The original test well will be a vertical well through the Utica-Point Pleasant to look at coring and logging data. After the data is examined and determined to have the potential to yield natural gas, the vertical well will be cemented back and turned into a horizontal lateral with a lateral length of 6,000 feet.
Magnum Hunter will be one of two companies developing wells in Washington County. PDC Energy will also be developing a well in Washington County in 2013. If both comeback with promising results, we could soon see more activity in Washington County.
The other three additional wells being planned by Magnum Hunter will be located in Monroe County through a joint venture with Eclipse Resources. Magnum Hunter will be developing the additional Utica-Point Pleasant wells in combination with their liquids rich Marcellus development in the county.
In addition, during a recent announcement regarding the Eclipse and Magnum Hunter Resources joint venture, the companies announced they planned to develop twelve horizontal Marcellus Shale wells and twelve horizontal Utica Shale wells over the next three years in Monroe County. The estimated investment to develop these wells is approximately $200 million."
READ THE REST: http://www.eidohio.org/magnum-hunter-entering-utica-in-2013/