Anadarko, ExxonMobil and Chevron have acquired Utica Shale acreage through three separate transactions.
Anadarko has confirmed that it has acquired permits to drill a well in the Utica Shale formation in Guernsey County in Ohio.
In a separate deal, ExxonMobil has acquired leases in Ohio’s Utica Shale. It is reported that the leases were signed for $4,950 per acre and 19% on producing royalties. Other details of the transaction were not disclosed.
Also, Chevron has signed an agreement with AB Resources to acquire leases in the Utica Shale play in West Virginia. The acreage consists of 170 individual leases, the largest of which is a 713-acres parcel in the West Liberty area. Most of the acreage is in the northern and central portions of the Ohio County in West Virginia, primarily in the areas near West Liberty and Triadelphia.
Source: Gulfport Energy Corporation
The Utica, a deeply buried rock formation, spans across eight states, from Tennessee to New York, as well as parts of Canada. Oil and gas companies, however, have concentrated their leasing and exploration efforts in eastern Ohio, which they believe will yield more valuable oil and natural gas liquids.
Acreage metrics in Utica Shale:
| Announcement Date | Heading | $/Acre | Deal Sheet |
|---|---|---|---|
| 6/08/2011 | Hess acquires additional Utica Shale acreage for $750M | 8,824 | View |
| 9/07/2011 | Hess and Consol Energy form Utica Shale JV | 6,000 | View |
| 8/02/2011 | Rex Energy to acquire additional Utica Shale acreage for $40M | 3,636 | View |
| 2/28/2011 | Gulfport Energy and Windsor Energy acquire Utica shale acreage for $63M | 2,300 | View |
| 3/31/2010 | Atlas Energy acquires additional acreage in Utica/Collingwood shale gas play | 321 | View |
Way awesome, some legitimate details! I enjoy you producing this short article accessible, the remainder of the internet site can also be higher high quality. Possess a entertaining.
Great goods from you, man. Anadarko, ExxonMobil and Chevron acquire Utica Shale acreage | Derrick Petroleum Services I’ve understand your stuff previous to and you are just too excellent. I actually like what you’ve acquired here, certainly like what you are saying and the way in which you say it. You make it entertaining and you still take care of to keep it sensible. I can not wait to read much more from you. This is really a tremendous Anadarko, ExxonMobil and Chevron acquire Utica Shale acreage | Derrick Petroleum Services informations.