Welcome to the Vindy.com Fracking page, the Mahoning Valley's home for the latest news and information about the natural oil and gas drilling industry.
Ohio reaches milestone
Ohio reached a key milestone regarding Utica Shale devel- opment. According to the Ohio Department of Natural Resources Utica Shale permit page, the state has approved more than 1,000 Utica Shale permits since 2010.
The activity in Ohio is expected to continue with new counties being explored and new companies seeking permits to develop the Utica.
Update on well results
CONSOL Energy Inc. provided an update on Marcellus Shale well results from several CONSOL-operated drilling pads in Washington County, Pa.
The eleven wells on three pads had an average lateral length of 5,300 feet and were completed with some combination of shorter stage lengths, reduced cluster spacing and other enhanced production techniques. Initial production from the wells averaged 10.7 million cubic feet equivalent per day, and ranged from 5.3 million cubic feet equivalent to 18.4 million cubic feet equivalent per day.
While EURs1, a formula that generates equity portfolio risk forecasts, has yet to be calculated for these wells, the company believes they should easily approach 2.0 billion cubic feet equivalent per thousand lateral feet. The wells were turned into line quickly after flowing back frack fluids.
Separately, in Barbour County, W.Va., CONSOL has recently completed its first pad, the six-well Philippi 13 pad, that employed the same short stage lengths, reduced cluster spacing and enhanced production techniques with positive early results. Drillout and flowback activities are ongoing, but the first well, PHL 13F, which is 8,733 feet in lateral length, recently went into production with a maximum 24-hour flow rate of 13.6 million cubic feet equivalent per day.
Pricing announced for public offering
oklahoma city, ok
Access Midstream Partners LP has announced the pricing of an underwritten public offering of 6 million common units representing limited partner interests owned by Global Infrastructure Partners II.
Global Infrastructure Partners offered the units to the public at $51.45 and has granted the underwriter a 30-day option to purchase up to 900,000 additional common units.
The partnership will not receive any of the net proceeds from this offering, and the number of outstanding common units will remain unchanged.
The offering is being made under the partnership’s effective shelf registration statement filed Dec. 12, 2013, with the U.S. Securities and Exchange Commission.
Halcon CEO, CFO acquire more shares
Halcon Resources Corp CEO Floyd Wilson acquired 100,000 shares, and CFO Mark Mize bought 50,000 shares of Halcon Resources Corp stock Dec. 5. The stock was purchased at an average price of $4 per share, with a total value of $600,000.
After the completion of the purchase, Wilson directly owns 3,694,075 shares in the company, valued at approximately $14,776,300. The purchase was disclosed in a document filed with the Securities & Exchange Commission, according to WKRB News and Analysis.
More women working in oil and gas industry
The number of female professionals in the oil and gas industry has grown in recent years, according to Global Diversity and Inclusion report.
A survey from BP and Rigzone reveals broad support of the steps being taken to ensure wider gender diversity.
Career prospects for women in the oil and gas industry have improved in recent years, and an increasing number of women are taking advantage of those opportunities, according to the majority of energy professionals in the inaugural Global Diversity and Inclusion Report.
The study, conducted by BP, the international oil and gas company, and Rigzone, the leading online resource for the oil and gas industry, examined female representation in the energy workplace from the perspective of 3,000 oil and gas professionals.