Ohio Utica drilling permits rise in September

October 13, 2017

Houston, 13 October (Argus) — Permits to drill wells in the Utica shale in Ohio rose in September to 48 after a slight drop in the month prior, according to data from the Ohio Department of Natural Resources.

Permits in September rose by 50pc on the month, reaching 78pc higher than their year-earlier level amid a recovery this year in natural gas prices. In August permits were issued for 32 wells, down by nearly 16pc from July and down by nearly 47pc from the 17-month high set in March.

The number of applications processed each month varies, ranging from 10 to 41 in 2016. But application numbers have remained higher than 25/month after Nymex prices reached a 22-month high near $3.34/mmBtu in October 2016.

Spot prices near the Utica have maintained levels higher than the year earlier...

Read entire article at Argus Media.

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