Seneca Resources Corp. Announces Pa. Well Results
The initial results from Seneca Resources Corp.’s recently completed well in Tioga county, Pennsylvania, are in.
Seneca Resources is a wholly owned exploration and production subsidiary of National Fuel Gas Co. and the exploration well, targeted for the Utica Shale formation, is on a pad located within its DCNR 007 tract in Tioga County.
The well had a 24-hour peak production rate of 22.7 million cubic feet (“MMcf”) of natural gas per day. The well was drilled to a true vertical depth of approximately 12,200 feet, had a treatable lateral length of 4,640 feet, and was completed over 30 stages.
“We are very pleased with the initial production results from our first Utica Shale well in Tioga County, Pa. This well, along with wells drilled by other operators in the area, have de-risked the Utica potential of our 10,000 acres on DCNR Tract 007,” says Ronald J. Tanski, president and CEO of National Fuel Gas Company. “We estimate resource potential on this tract alone of approximately 1 trillion cubic feet. With these strong results in hand our team is evaluating options to develop this acreage in the next few years, depending on local gas prices and pipeline take-away capacity. We have additional Utica potential not only in Tioga County, but across much of our large Pennsylvania acreage position. Our next Utica exploration well is planned for fiscal 2016.”
National Fuel is an integrated energy company with $7.1 billion in assets, including the following five operating segments: exploration and production, pipeline and storage, gathering, utility, and energy marketing. Additional information about National Fuel is available at nationalfuelgas.com.National Fuel Gas Company, Pennsylvania, Seneca Resources Corp, Utica Shale
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