Utica Shale Picture to Become Clearer Soon

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From Reuters:
The share price gain represents perhaps the clearest example of how investors, giddy about an expected boom in Ohio's energy production, have been betting on companies based on some optimistic, but preliminary, production data.
But next month a more comprehensive state report will publish new data from Ohio's oil and gas wells that will offer the most insight yet about whether the Utica is the next big thing or a potentially fizzling bust for companies operating there.
Energy producers in the Buckeye State have compared the Utica to the giant Eagle Ford shale play in Texas and declared it a boon for a state still weathering an economic downturn. However, enthusiasm has cooled somewhat since drilling began in 2011, after wells produced more cheap natural gas than the more lucrative oil.
On March 31 this year, data from between 50 and 60 wells drilled in 2012 will be given to the state. It will then be made available on the Ohio Department of Natural Resources' website in April, the department said. It did not give a specific date but last year the report came on the second of the month.
Read the whole article here. 

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