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Ohio Utica Shale

Shale Tidbits 1: Antero Resources

By Bob Downing Published: March 2, 2014

Shale Tidbits 1 from Colorado-based Antero Resources, a major player in Ohio’s Utica shale:

From last week’s investors’ report,  conference with analysts and company statements on fourth quarter 2013 and year-end 2013.

Antero says it has proven reserves of 35 Tcfe in the Marcellus and Utica shales.

Its average daily net production in fourth quarter 2013 was 678 MMcfe/d including  11,10 Bbl/d. That’s up 115 percent from year-over-year and 20 percent sequentially. The liquids total is up 42 percent sequentially and from nothing the year before.

Company expects average annual net production to grow by 75 to 85 percent in 2014, and that’s would be from 925 million to 975 million cubic feet equivalent per day.

It has 20 rigs working and is the most-active driller in Appalachia. It is the most- active driller in the Marcellus with 15 rigs. It is the third-most-active driller in the Utica with five rigs. It is active in Monroe, Noble and Guernsey counties in southeast Ohio.

To date, 18 horizontal Utica wells are completed and online in Ohio. It intends to drill 41 Utica wells in 2014. It has 65 wells in Ohio, West Virginia and Pennsylvania are  being drilled or are being completed.

Antero has 11 of the top 12 Utica 24-hour peak rates announced, to  date.

It is getting 20 to 53 MMcfe/day per well  in the Utica core area.

Its biggest well is the Yontz 1H well in Monroe County. It is one of the biggest gas-producing well in Ohio. Its 24-hour IPs are 53.3 MMcfe/day gas equivalent rate or 38.9 MMcf/day for wellhead gas. It produces 36 percent liquids: 3,177 barrels per day of natural gas liquids and 52 barrels per day of condensate. Its BTU content  is 1161

Company said its “monster” wells in southeast Ohio are producing with 20.5 Bcfe EUR per location.

Antero’s wells have been producing against 1,100 psi due to lack of compression facilities.

Its biggest producer for 30-day rates is the Gary 2H well in Monroe County with 29.7 MMcfe/d gas equivalent rate or 24.6 NNcf/d of wellhead gas.

The company says the core numbers from the Utica are higher than its numbers from the Marcellus.

Liquids are expected to grow from 7 percent last year to 16 percent this year.

Right now, liquids range from 40 to 70 percent (assumes ethane recovery) in the liquids-rich window.

Company is getting about $56 per barrel for NGLs (with ethane).

Antero has 106,000 acres in Utica rich gas-condensate window or a total of 456,000 acres in the Utica and Marcellus shales.

Company had compressor problems in the Utica shale. First compressor station came online in late January 2014. Another is scheduled to online in late 1Q 2014. A third compressor is due to be completed this summer.

That problem delayed bring six wells online until late January 2014.

The company has identified 759 future Utica drilling sites.

Company reported that its system to withdraw water from the Ohio River to hydraulically fracture or frack wells in West Virginia and Ohio is complete.

The company said it spent $200 million on the water project and $100 million on leases in the quarter.

Antero said it is doing more of the needed midstream itself and has earmarked $600 million for needed midstream projects in 2014.

It is embarking on a Utica test in 2014 on varying the distances between laterals.

The company said it intends to drill a dry gas Utica well in second half of 2014 in West Virginia as a test. It has leases on 130,000 acres in that area.

The company said it expects to have eight to nine rigs in the Utica in the next few years. That’s an increase from the current five rigs.

Company says it is expanding pad drilling throughout the region.

Company has been using 10,800-foot laterals in the Marcellus and 11,600-foot laterals in the Utica. Company shifted to shorter stage length completions in the Marcellus in fourth quarter 2013.

Severe winter conditions had little impact on company operations in Ohio, West Virginia and  Pennsylvania.

Company said its 2013 IPO brought in $1.6 billion that was used to pay off debt.

 

 

 

 

 

 

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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.