PDC Energy Inc. may return to Ohio’s Utica Shale
Tuesday, May 26, 2015
In December 2014, PDC Energy Inc. ceased its operations in Ohio, but the driller may be returning to the Buckeye State soon, according to Columbus Business First.
The Denver-based company has a well pad, named Dynamite, in southeastern Guernsey County that is doing better than cost and production predictions. Another well north of the Dynamite well will start production soon. The newspaper reports that PCD budgeted $35 million for its 67,000 acres in eastern Ohio’s condensate window.
PDC said that before the decision is made to move oil rigs back to the Utica Shale in Ohio, oil prices would need to be between $70 and $80 a barrel.
Via: Columbus Business First > Driller says it may resume work in Ohio sooner than expected
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