American Oil and Gas Reporter - July 2015 - 115

SpecialReport: Marcellus/Utica Update
For example, he says CONSOL is
testing ceramic and resin-coated proppant
at its SWITZ 6 pad. "This increases cost,
but we want to come up the learning curve
quickly," he emphasizes. "We must understand proppant type's impact on EUR.
"We have seen a 17 percent reduction
in well costs from first quarter 2014 to first
quarter 2015," Neal offers. "We expect a
further 20 percent reduction as we become

even more capital efficient. We experienced 48 percent production growth from
first quarter last year to the same quarter
this year. Our operating costs have improved from $3.18 an Mcfe to $2.62 in the
Marcellus. I am proud of that.
"Our Utica reserves have grown 700
percent, from 1.2 Bcfe to 9.5 Bcfe," he
adds. "There is tremendous growth opportunity in the Utica."
❒

Dearing Compressor and Pump Co.
Family Owned Since 1945

Growing to new heights,
Engineered Packages for the Energy Market

tainly has become a major focus for the
company as its takes advantage of stacked
Marcellus/Utica pay zones, Neal says.
"We always knew the Utica was there,
in addition to our wet Utica reserve," he
muses, "but we must prove this deep, dry
resource value."
He says CONSOL has 614,000 acres
prospective to the Utica in Ohio, Pennsylvania and West Virginia, which includes
77,000 acres in a joint venture with Hess
Corporation in Harrison, Noble and Belmont counties, Oh. The company also has
790,000 acres prospective to the Marcellus, consisting of 701,000 acres in a joint
venture with Noble Energy and 89,000
acres outside the joint venture in which it
owns 100 percent of the working interest.
He says CONSOL has 384 producing
wells in the Marcellus.
Neal estimates that 496,000 acres in its
Marcellus footprint is prospective for the
Utica, noting that CONSOL has 500
MMcf of proven reserves in the Utica.
"We have developed only about 1
percent of our acreage in the Utica,' he
adds.
Estimated ultimate recoveries are 2.4
Bcfe per 1,000-foot lateral in Ohio, according to Neal.
He says CONSOL is testing the dry gas
Utica in West Virginia. Estimates are
1.8 Bcfe per 1,000-foot lateral, although
he notes, "We have to get the wells in production to get a better feel for that number."
CONSOL has 53 wet Utica wells on
line in Ohio, Neal continues. In addition,
three dry Utica wells in Pennsylvania and
West Virginia are under development.
The company is stimulating four dry Utica wells on its Monroe County, Oh.,
SWITZ 6 pad, and in June was drilling its
100 percent-owned GH-9 well in Greene
County, Pa.
"We also ran pipe on our 100 percent
working interest Gaut 4I, a 5,600-foot dry
Utica lateral in Westmoreland County,
Pa.," he continues. "We are stepping
out."
CONSOL's Gaut 4I in Westmoreland
County is two counties northeast of most
of the Utica activity in southwestern Pennsylvania. Neal says its partner, Noble Energy, has drilled a 7,200-foot dry gas Utica lateral in Marshall County, W.V., as
well.
"We are spending on science to understand this asset," Neal says.

with roots in the Appalachian Basin
Corporate Office and Main Packaging Facility

330-599-5720

3974 Simon Rd, PO Box 6044 Youngstown, OH 44501 www.dearingcomp.com
JULY 2015 115



American Oil and Gas Reporter - July 2015

Table of Contents for the Digital Edition of American Oil and Gas Reporter - July 2015

Contents
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