An Ohio drilling company on Friday announced that it has acquired lease rights to 2,200 acres in Wayne County.
The announcement came from the Cardinal Energy Group based in the Columbus suburb of Dublin.
The leases from the Chase Energy Group cover the shallow but prolific Clinton sandstone that has been the site of extensive vertical-only wells over the years.
The formation, at depths of 3,500 to 6,000 feet in Wayne County, has been drilled in the past by Belden & Blake Corp., Range Resources and Atlas Resources.
"We are enthusiastic about this acquisition," said Timothy W. Crawford, the president and CEO of Cardinal Energy Group.
His company plans to drill five wells on the acquired Wayne County acreage in 2013.
The acreage is currently held by production by Devon Energy, an Oklahoma-based company that owns the deep lease rights.
In late 2012, Devon Energy has plugged horizontal wells in Medina and Ashland counties that had failed to produce enough oil.
It is also drilling wells in Knox, Coshocton, Holmes and Guernsey counties.
Such wells can cost between $5 million and $10 million each.
The Cardinal Energy Group specializes in reworking existing wells to restart or increase production.
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.
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Earthjustice, a national eco-group.
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.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.