Utica Best Shale Play In The US? Pu-leeaese....They Just Banned Fracking In Ohio

Updates

April 11, 2014: since the original post, CNBC has a headline that Ohio has just banned fracking. That's not entirely correct, but it's not far off the mark. Google the story. I will post it when the spirit moves me.

 

Original Post

Nice "PR" article but I don't agree that the Utica is the best shale play in the nation. Had "they" only been talking natural gas, I wouldn't have said a thing, but once they mentioned the Bakken, I had to disagree.

In addition, the cost of Bakken wells has come down from the "30-second sound-bite $10-million Bakken well."

HoustonBizJournal is reporting that Magnum Hunter is very happy with its involvement in the Utica.

The average cost to develop a well in the Utica play is between $8 million and $10 million, compared with $4 million to $6 million for the Niobrara formation in Wyoming and Colorado, $9 million for the Eagle Ford in Texas and $10 million for the oil-rich Bakken formation of North Dakota.

I guess the "$10-million-Bakken well" and "30% of all Bakken gas is flared" are with us forever.