☰ Menu
Ohio Utica Shale

Antero Resources investing heavily in Utica, Marcellus shales

By Bob Downing Published: February 5, 2013

A press release from Antero Resources, which is involved in eastern Ohio drilling:


Denver, Colorado, January 28, 2013—Antero Resources today announced its planned capital budget for 2013 as well as its 2013 outlook. Antero’s capital budget for 2013 is $1.65 billion and includes $1.15 billion for drilling and completion, $350 million for the construction of gathering pipelines and facilities in the Appalachian Basin including $150 million for water-handling infrastructure primarily in the Marcellus Shale and $150 million for leasehold. The capital budget excludes acquisitions.

All of the $1.15 billion drilling and completion budget is allocated to Antero-operated drilling, and virtually all of the 2013 drilling and completion budget is allocated to drilling rich gas acreage. Approximately 87% of the drilling and completion budget is allocated to the Marcellus Shale and the remaining 13% is allocated to the Utica Shale. During 2013, Antero plans to operate an average of 12 drilling rigs in the Marcellus Shale and 2 drilling rigs in the Utica Shale. These 14 rigs will be supplemented by 3 to 4 shallow rigs that will drill the vertical section of some horizontal wells to the kick-off point at approximately 6,000 feet. The shallow rigs increase drilling efficiency and reduce overall well costs.

Antero is currently building an 80-mile water sourcing and pipeline distribution system in West Virginia that it estimates will reduce frac water costs from approximately $6.00 per barrel currently to approximately $2.00 per barrel going forward, resulting in cost savings of up to $600,000 per well. In addition to well cost savings, Antero expects the water distribution system to provide a reliable year-round water supply and to significantly reduce truck traffic. The Company estimates that over 30% of the planned 2013 wells to be completed and as much as 75% of the planned 2014 wells to be completed will benefit from the new water infrastructure.

The capital budget is expected to be funded internally from operating cash flow, through the use of the undrawn capacity under Antero’s bank credit facility, through potential future capital markets transactions and potential sales of non-core assets.

2013 Outlook


Antero periodically provides guidance on certain factors that affect future financial performance. We are using the following key assumptions in our projections for 2013:


2013 Outlook:

NYMEX Gas Price ($/MMBtu)






WTI Oil Price ($/Bbl)






Net Production (MMcfed)



530 – 570 MMcfed



Net Liquids Production Bbld)



10,000 – 12,000 Bbld






$660 – $700 million



Cash Production Costs ($/Mcfe) (2)



$1.40 – $1.60/Mcfe



G&A ($/Mcfe)



$0.25 – 0.30/Mcfe




(1) See "Non-GAAP Financial Measures"

(2) Includes lease operating expenses, gathering, compression and transportation expenses and production taxes.



See the most recent drilling report and an injection wells map From
  • Main Blog Promo
  • Cavs Blog Promo
  • Browns Blog Promo
  • Indians Blog Promo
  • Beer Blog Promo
  • Fracking Blog Promo
  • High School Blog Promo
  • Zips Blog Promo
  • Akron Dish Food Blog
Prev Next

Utica and Marcellus shale web sites

Ohio Department of Natural Resources' Division of Oil and Gas Resources Management State agency Web site.

ODNR Division of Oil and Gas Resources Management. State drilling permits. List is updated weekly.

ODNR Division of Geological Survey.

Ohio Environmental Protection Agency.

Ohio State University Extension.

Ohio Farm Bureau.

Ohio Oil and Gas Association, a Granville-based group that represents 1,500 Ohio energy-related companies.

Ohio Oil & Gas Energy Education Program.

Energy In Depth, a trade group.

Marcellus and Utica Shale Resource Center by Ohio law firm Bricker & Eckler.

Utica Shale, a compilation of Utica shale activities.

Landman Report Card, a site that looks at companies involved in gas and oil leases.FracFocus, a compilation of chemicals used in fracking individual wells as reported voluntarily by some drillers.

Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.

Rig Count Interactive Map by Baker Hughes, an energy services company.

Shale Sheet Fracking, a Youngstown Vindicator blog.

National Geographic's The Great Shale Rush.

The Ohio Environmental Council, a statewide eco-group based in Columbus.

Buckeye Forest Council.

Earthjustice, a national eco-group.

Stop Fracking Ohio.

People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.

Concerned Citizens of Medina County, a grass-roots group.

No Frack Ohio, a Columbus-based grass-roots group.

Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.

Penn State Marcellus Center.

Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.

Allegheny Front, environmental public radio for Western Pennsylvania.