Devon Energy Likely to Abandon Utica Shale Due to Lack of Success

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From the Akron Beacon Journal:
Here are some leftover news items from last week’s annual winter meeting of the Ohio Oil and Gas Association in Columbus:
1. Devon Energy reported that its unsuccessful wells in Medina and Richland counties were “too immature to produce,” said Larry Wickstrom, chief geologist of Wickstrom Geosciences LLC and a former state geologist.
All the company had publicly said was that the wells, now plugged, were disappointing.
The wells “flowed hydrocarbons but did not have the economics we had hoped for,” the company told Wickstrom.
Devon has drilled few other wells on the western edge of the Utica shale.
It is likely that Devon Energy will be the first company to bail on the Utica shale in Ohio, Wickstrom said.
Read some other tidbits here. 

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