Hess Corp. says it is pleased with initial results from the Utica shale in eastern Ohio.
It is continuing to test wells this year and expects to ramp up production in 2015, said Gregory P. Hill, president and CEO of exploration and production, in a recent first quarter 2014 report.
“Well results from the Utica shale play are encouraging,” said John Hess, CEO and director.
Earlier, Hess and partner Consol Energy said they intend to spend $550 million to drill 35 Utica wells in 2014 in the wet-gas window.
In the first quarter, the two companies drilled eight wells, completed three and tested one well in the joint venture area that covers 43,000 acres.
Initial results show rates averaging 1,800 barrels of oil equivalents per day with 59 percent liquids based on 24-hour tests.
Hess reported that it has drilled 42 wells in the Utica, although only 15 of those wells have been tested, officials said.
The company is working to reduce drilling and completion costs in the Utica shale. It is also experimenting with lateral lengths and fracking stages.
It has three rigs drilling in Ohio. It is active in Belmont, Guernsey, Harrison and Jefferson counties.
Bob Downing can be reached at 330-996-3745 or email@example.com.