Join the Business Development Study Group at the Four Seasons Hotel for our first meeting of the new season! EnerVest’s  Phil Delozier will share his insight on the bright future for eastern Ohio’s Utica Shale as continued industry success and a receptive regulatory environment combine to create the potential for a second Eagleford. The popular format of a Business & Social Networking hour, with complimentary Hors’ D’ Oeuvres and a cash bar, followed by an hour-long program, will begin at 5:00 pm in the Mezzanine.

 

Development of the Utica Shale, along with its side-car companion, the Point Pleasant, is transforming the oil and gas business of eastern Ohio. A crowded field of new entries and their support brokers vie for new and HBP leasehold from the Appalachians to Lake Erie. Early movers have been proceeding to test their newly acquired assets, defining the boundaries of production type (dry gas, condensate, oil), optimizing drilling and completion  methodologies, and working with governmental entities to amend 40 acre rules for 10,000 foot lateral technologies.   Meanwhile established producers contemplate their options to sell out, promote, or self-develop their steady HBP holdings. While both the number of horizontal wells and the length of their production history are small, encouraging early results along with industry’s desire for high value liquids production has led to look alike comparisons to the Eagleford – where a high level of continuous development is expected for many years. What is the current level of activity and success? What are some important technical questions to be resolved? What is the outlook for future transactions? More large acreage deals? Or is industry focused on filling out drillable units? What are the important governmental and regulatory issues left to address? Will pipeline and transportation infrastructure keep pace? How will a trained local workforce keep pace with demand?