Posts tagged as:

utica shale

Devon – Sinopec JV Across 5 New Oil & Gas Plays Agreed

by Kenneth E. DuBose on January 4, 2012

Devon Energy and Sinopec (China) have inked a joint-venture (JV) deal worth $2.2 billion for a 1/3 interest in Devon’s acreage across five new venture plays. Devon is selling an interest in 1.2 million net acres for a little more than $5,000 per acre across several emerging plays: Tuscaloosa Marine Shale Niobrara Shale Mississippian Ohio’s […]

{ Comments on this entry are closed }

Chesapeake Energy and Total closed the previously announced Utica Shale joint venture on January 2, 2012. The deal was announced at the beginning of November without disclosing the partner, but Total was likely as the company already partners with Chesapeake in the Barnett Shale. The Chesapeake – Total Utica Shale joint venture covers acreage in […]

{ Comments on this entry are closed }

Shale Play Land Deal Prices Hit New Highs in 2011

by Kenneth E. DuBose on January 2, 2012

The price to play the shale play game increased at a brisk pace in 2011. Prices in the Eagle Ford Shale and Utica Shale  went to levels not seen before 2011. Typical Eagle Ford Shale deals were hopping along at a few thousand dollars per acre until Chesapeake and CNOOC reached a JV agreement in the […]

{ Comments on this entry are closed }

Athens County OH Utica Shale Leasing Surpasses $2,500/acre

by Kenneth E. DuBose on December 15, 2011

Leasing in Athens County, OH, and other areas of the Utica Shale oil play continue to heat up. Land owners are joining together to sign leases in bulk to get favorable terms. Leases are being signed for $2,500 per acre with rumors of $5,000 per acre in the hottest areas. Some mineral owners are going […]

{ Comments on this entry are closed }

Chesapeake Utica Shale JV Fetches $15,000 per Acre

by Kenneth E. DuBose on November 4, 2011

Chesapeake Energy announced its long awaited Utica Shale joint venture (JV) Nov. 3. We’ll have to wait a little longer to find out who the partner is. We simply know it is an international company. Exxon already has a position in the play and would be a likely candidate, but they don’t have a history […]

{ Comments on this entry are closed }

Ohio’s Dormant Mineral Act Might Mean You Have Options

by Kenneth E. DuBose on October 18, 2011

Ohio’s dormant mineral act passed in 1989 might open the door for some land owners who recently found their minerals were reserved years ago. There is potential for reclaiming the oil & gas minerals if they have gone undeveloped for many years. This is important for everyone in the midst of the Utica Shale boom […]

{ Comments on this entry are closed }

Chesapeake’s Utica Shale Well Results Impress

by Kenneth E. DuBose on September 28, 2011

Chesapeake’s Utica Shale position spans more than 1.25 million acres in Ohio and published well results indicate the company has stumbled upon an impressive shale formation. In the oil and wet gas portions of the play in Carroll and Harrison counties, the company reported initial production rates of 1,500 to over 3,000 barrels of oil […]

{ Comments on this entry are closed }

Stark County, OH – History of Oil & Gas Drilling

by Kenneth E. DuBose on September 19, 2011

Ohio has a history of oil & gas activity that dates back over 150 years. While the state hasn’t been a hotbed, it shouldn’t be a complete surprise that technology and the Utica Shale have pushed the state back to the forefront of oil & gas development. In a farm field on the east side […]

{ Comments on this entry are closed }

Hess Acquires Marquette Exploration’s Ohio Utica Shale Acreage

by Kenneth E. DuBose on September 15, 2011

Hess announced the acquisition of 85,000 net acres in Ohio’s Utica Shale from Marquette Exploration for $750 million. For those keeping track, that’s over $8,800 per acre in counties that border Pennsylvania in east-central Ohio. This announcement is on the heals of a joint-venture with Consol Energy that gave the company 100,000 net acres for […]

{ Comments on this entry are closed }

Consol Energy’ acquisition of Dominion Resources’ Appalachian business for $3.5 billion in 2010 is proving to be a real boon for the company. Consol first announced a $3.5 billion JV with Noble Energy in the Marcellus Shale and more recently announced a $593 million JV with Hess in the Utica Shale. The company has not released […]

{ Comments on this entry are closed }