Petroleum Development Company (PDC) of Denver Colorado enters the Ohio Utica Play with the purchase of 30,00 leased acres.

Today PDC, a Denver Col. company announced they have acquired 30,00 acres in Guernsey, Noble, Monroe, Morgan, and Washington counties which are considered wet zone (oil & natural gas liquids) and are mostlly HBP with old shallow wells. However, they state that they are looking to acquire much more acreage and begin drilling two wells in 2012.

http://www.msnbc.msn.com/id/44423112

Randy

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Replies to This Discussion

Permalink Reply by Shower Bath on September 8, 2011 at 3:52am

Another link to yesterdays news on the Ohio Utica Play:

http://shale.typepad.com/utica_shale/

 

Randy

Permalink Reply by Shower Bath on September 9, 2011 at 2:39am

Here is a link where the Chesapeake CEO discusses their move to liquids (oil & NGLs). The liquids are what makes the leases in Eastern Ohio so valuable, as the price for dry gas hovers around $4.

http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/6445114

Randy

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