Antero gains 12,000 Utica Shale acres, 115 new drilling locations in Ohio
Tuesday, January 20, 2015
Antero Resources Corp. paid $240 million for its acquisition of 12,000 acres of Utica Shale in Ohio. Pittsburgh Business Times reports that the acreage contains 115 new drilling spots, five horizontal wells that are currently in production as well as a gathering pipeline. The acreage is mostly located in southeastern Ohio’s Monroe County.
In 2014, Antero put 136 Marcellus Shale wells and 41 Utica Shale wells into production. The Denver-based company doesn’t plan to increase the number of its rigs over 2014’s number. Antero expects to grow production by 45 or 50 percent in both 2015 and 2016.
Antero’s net acreage in Ohio, Pennsylvania and West Virginia totals 542,000 acres.
Via: Pittsburgh Business Times > Antero finalizes Ohio land deal, gains 12,000 acres
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.