Posted on 07/28/2011 9:10:26 PM PDT by socialism_stinX
Having achieved successful results from recent drilling activities in eastern Ohio, Chesapeake is announcing the discovery of a major new liquids-rich play in the Utica Shale. Based on its proprietary geoscientific, petrophysical and engineering research during the past two years and the results of six horizontal and nine vertical wells it has drilled, Chesapeake believes that its industry-leading 1.25 million net leasehold acres in the Utica Shale play could be worth $15 - $20 billion in increased value to the company. Chesapeakes dataset on the Utica Shale includes approximately 2,000 well logs, full-suite petrophysical data on approximately 200 wells, 3,200 feet of proprietary core samples from nine wells and production results from three wells. As a result of its analysis, the company believes the Utica Shale will be characterized by a western oil phase, a central wet gas phase and an eastern dry gas phase and is likely most analogous, but economically superior to, the Eagle Ford Shale in South Texas.
(Excerpt) Read more at finance.yahoo.com ...
From this Bloomberg article is a quote from Gov. John Kasich:
This is huge news for Ohioans and Im simply thrilled to hear it, Ohio Governor John R. Kasich said in a statement.
Better count all your fingers and your toes when you deal with these guys.
Number 1 should be throwing Zero and his gang of clowns
out ....
Funny, if Obama had offered just a bit of encouragement to onshore exploration, he could have taken credit for the revitalization of the U.S. energy production industry through fracking. As it is, I’m sure he’s trying to figure out how to stop it.
Chesapeake Energy.....great guys gave a few million to the Swift Boat Vets. So did T Boone Pickens
These guys should be big Rick Perry donors
It is a good idea to do that no matter who you deal with, and no matter what you deal with them over. You'd be surprised at who will try to screw you over.
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