Rigzone has an update with regard to Chesapeake and the company's "thoughts" about the Utica.
Some data points:
- Recoverable oil in the Bakken, USGS: 3 - 4 billion bbls; CLR/CEO says as much as 24 billion
- Recoverable oil in the Utica: 1.3 to 5.5 billion
- Chesapeake: number of rigs in North Dakota -- 1 active one today, I believe (if I'm wrong, someone will tell me)
- Chesapeake plans to have 20 rigs in Ohio by the end of the year (2012)
- Currently, Chesapeake has five Utica shale wells (operated by subsidiary Chesapeake Appalachia): these five produced 45,513 bbls of oil and 2.5 million cubic feet of gas in 2011 (an "average" Bakken well should be able to produce 50,000 bbls in first six months; just a rule of thumb for me; others will have their own "rule of thumb")