Rice Energy scores big with 1st Utica shale well in Ohio
Columbus Business First
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Rice Energy Inc.’s first Utica shale well is operating and the aptly named Bigfoot 9H has proved to be a good first step for the Canonsburg, Pennsylvania, company in Ohio.
The Belmont County well became Ohio’s top-producing natural gas well in June, when the company said it had an initial production rate of 41.7 million cubic feet of natural gas a day.
In a second-quarter update Monday, Rice said the well produced 676 million cubic feet of gas in 49 days of production. The company expects the well to produce 5.1 billion cubic feet of gas after a year of production, a 35 percent increase over its original estimate.
Rice (NYSE:RICE) said it is completing two Utica wells in Belmont County, named Blue Thunder 10H and 12H. (Many oil and gas companies name wells after mineral rights owners; Rice is more creative.) Those wells, situated close to Bigfoot 9H, should be online next month. The company didn’t give any indication if it expects them to join Bigfoot as big producers.
The new wells are part of the company’s testing plan before ramping up development in the Utica play.
Rice operates in Pennsylvania’s Marcellus shale and Ohio’s Utica play. It has almost 127,000 acres in Appalachia, including about 51,000 in Ohio.