Antero Resources Not Planning Any More Utica Wells in 2018
From Antero Resources 2nd quarter 2018 update:
Ohio Utica Shale — Antero placed five horizontal Ohio Utica wells to sales during the second quarter of 2018 with an average lateral length of approximately 15,900 feet and an average 30-day rate of 12.9 MMcfe/d per well on choke. Current average well costs are $0.95 million per 1,000 feet of lateral in the Ohio Utica assuming the 2018 average lateral length of 12,000 feet and 2,000 pounds of proppant per foot. The Company does not plan to operate any drilling rigs or completion crews in the Ohio Utica Shale during the remainder of 2018 as the second half 2018 development plan shifts to liquids-rich locations in the Marcellus due to the continued strength in liquids pricing. The Company’s current five year plan does include the resumption of drilling and completion activity in the Ohio Utica Shale in 2019.
During the period, Antero drilled six wells in the Utica dry gas regime with an average lateral length of 12,900 feet in 20 total days from spud to final rig release. This represents a 4% decrease in drilling days and a 22% increase in lateral length in the Utica dry gas regime compared to 2017. In addition, Antero drilled nearly 5,200 lateral feet in a 24-hour period, which is a company record for drilled lateral footage in 24 hours in the Utica. During the second quarter, the Company completed 5.4 stages per day on average, above the 5.1 stages per day achieved during the first quarter.
During the third quarter of 2018, the Company expects to place a total of 15 wells to sales in the Utica with an average lateral length of 10,200 feet per well.The whole report is available by clicking below to read more.
