Majors and independents at odds over Ohio’s Utica shale

摘要

Capital-constrained majors have retreated from Ohio’s Utica-Point Pleasant shale formation,but some upstream independ-ents continue to see promise in the gas-heavy formation,which is slowly emerg-ing as core to US explorers. BP has scrapped development plans for its Utica acreage,after disappointing drilling results led to a$521mn write-off in the first quarter(WPA,2 May,p4).Hess sold about 74,000 acres(300km2)in a dry gas portion of the Utica to American Energy Partners for$924mn this year. American Energy paid Hess$12,500/acre.