Anadarko (APC) Updates on Utica Play, Drills Three Wells To-Date
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Anadarko Petroleum Corporation (NYSE: APC) today provided an update on its drilling program in the Utica Shale play in eastern Ohio after filing the required production history with Ohio Department of Natural Resources. To date, the company has drilled and is producing from three wells in the Utica Shale, the most recent of which has delivered more than 9,500 barrels of light-gravity crude oil during its first 20 days on line.
Anadarko's Brookfield A-3H well in Noble County has produced approximately 9,500 barrels of oil and approximately 12 million cubic feet (MMcf) of high-BTU (British thermal units) natural gas during its first 20 days on line. The Spencer A-1H and Spencer A-5H wells, located in Guernsey County, have cumulatively produced a combined 20,000 barrels of light-gravity crude oil and 37 MMcf of liquids-rich natural gas in just under two months on line. All three horizontal wells were drilled to a vertical depth of approximately 6,500 feet and a lateral length of about 5,000 feet with 16- to 19-stage completions.
Anadarko operates the Brookfield and Spencer wells with a 100-percent working interest (82.5-percent net revenue interest) subject to a participation agreement with Artex Energy Group LLC.
Anadarko's Brookfield A-3H well in Noble County has produced approximately 9,500 barrels of oil and approximately 12 million cubic feet (MMcf) of high-BTU (British thermal units) natural gas during its first 20 days on line. The Spencer A-1H and Spencer A-5H wells, located in Guernsey County, have cumulatively produced a combined 20,000 barrels of light-gravity crude oil and 37 MMcf of liquids-rich natural gas in just under two months on line. All three horizontal wells were drilled to a vertical depth of approximately 6,500 feet and a lateral length of about 5,000 feet with 16- to 19-stage completions.
Anadarko operates the Brookfield and Spencer wells with a 100-percent working interest (82.5-percent net revenue interest) subject to a participation agreement with Artex Energy Group LLC.
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