Here are some interesting items found in EV Energy Partners second quarter 2012 financial report and from the transcript of an Aug. 10 earnings call with analysts.
A. The company has entered into an $83 million agreement this month to purchase assets. The company cannot disclose the location of those assets being purchased. Details will be released later.
B. The cost of drilling a Utica shale well is dropping. It is down to about $6 million per well, a 50 percent drop from a year ago, the company says.
C. EV Energy Partners is interested in selling off a portion of its non-core Ohio assets, The company said it intends to keep the shallow Clinton wells, the deep Knox production, the company's recorded overrides and its investment in processing facilities. What it is marketing is the Utica formation rights and delivering an 80 percent net lease.
The company has 150,000 net working acres in Ohio plus a 2 percent override on 880,000 gross acres.
D. Drilling times are also improving in the Utica shale. It is down to about 15 days per well and that reduces costs, the company says.
E. Processing of the first wet gas from the Utica shale will likely take place in December at the Dominion Resources plant in Matrium, W. Va. Several other Ohio facilities including those operated by MarkWest and Momentum will likely open in 2013.
F. The company says it is talking with other drilling companies in an effort to get the best results from the Utica shale wells. The companies are comparing notes on such things as dissipation times.
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.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
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.