WIth WTI At $90 And Natural Gas Trending Toward $10, EOG Returns To The Utica -- July 26, 2022

The Utica is tracked here, and at the sidebar at the right. 

There are multiple story lines in the post below. A huge thanks to the reader who sent me the initial link.

With minimal editing, a very credible, reliable reader provided me this earlier today:

I just spent a semi-frenzied couple of hours trying to learn what I can about EOG's Rose well in Carroll County, Ohio.

It produced ~700 bbld first 14 days online (10,275 bbls), along with 3 million cfd of natgas.

 

Reports are rocketing around the net  that EOG has been determinedly leasing up acreage in that area (fringe of Utica oil window, Carroll/Stark counties).

 

In addition, EOG is building a short takeaway pipeline for the product.

Biggest data point (to me) is that this oil-drenched, shallow (7,000 foot) formation is now economical to be developed due to EOG's use of High Pressure, Single Point gas lift.

This last is unconfirmed, but - if true - could have ENORMOUS implications for 'shale' oil production everywhere.

I am reluctant to 'get ahead of my headlights, but the concept of using high pressure gas lift to extract 'shallow/under pressured' oil could - IF effective - have huge impacts throughout the energy world.

Okay, so let's see what's out there:

• shaledirectories.com, July 22, 2022:
• shaledirectories.com, December 4, 2021;
• from Dave Boyer @ Mudrock Enegy, February 17, 2022;

From the December 4, 2021, story:

EOG Resources is the premier shale drilling company in the country which has led to its strong financial success. 

I have thought for months that EOG was drilling in Carroll County, Ohio. 

In November permitting reports, EOG has received a permit to drill in Rose Township in Carroll County. The presence of EOG in the Utica is a bullish sign for drilling in the Utica for years to come.

At least one of the linked articles also confirms that EOG is putting in a takeaway pipeline for the Rose well production.

With regard to high pressure gas lift, the first link below is to Schlumberger:

With respect to Carroll County, Ohio: