BP Set To Announce Plans

According to the Tribune Chronicle (Warren, OH) BP "...plans to make an announcement this morning about it's future with the Utica Shale Play "

Let's keep our fingers crossed for good news!

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Permalink Reply by Nelson E. Yost on May 1, 2014 at 2:15pm

PDC is my other horse in this race as I have property in Morgan county...good comments all for N.W. Trumbull...we will see!

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on May 1, 2014 at 3:59pm

DVN put them up for sale and didn't get any bites.  I don't think they took a write down on the Utica specifically, but they did take a write down of almost $900 million on what they deemed to be uneconomical gas assets.  And not for nothing but the Chumney well did have some initial production that wasn't terrible.  448 bbl/day + 1,203 Mcf/day, no breakdown of what % were liquids but I would guess was in the 1100-1200 btu range, given the data in the area.

Permalink Reply by Joseph-Ohio on May 6, 2014 at 1:12pm
U.S.,
More interested in who is or who will be buying their position in the northern tier.

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