1st NRG Corp. (OTC: FNRC) signed an agreement to participate in the development of prospective acreage in southeast Ohio particularly seeking Utica shale potential, the company said in a press release Nov. 6.
Eastern Ohio - Utica Shale
With the recent technological advances in drilling techniques, numerous operators have started looking at the Utica as the next oil frontier with several operators comparing its potential to the Eagle Ford shale in Texas and the Bakken shale in Williston Basin of North Dakota and Montana. While it is still very early in the play operators like Chesapeake Energy, Antero, Magnum Hunter, Gulfport Energy, Anadarko, Petroleum Development Corp and Devon have been acquiring acreage in Ohio, the release said.
1st NRG signed an agreement with a private energy company to participate in the development of prospective acreage in southeast Ohio particularly seeking Utica shale potential. The company will be carried in the initial vertical test well and participate in future development with a 20% working interest. 1st NRG Corp. will not be the operator.
As information becomes available the size and extent of the Utica shale resource will become more evident. The Ordovician-aged Utica shale is distributed across several U.S. states as well as Quebec, Canada and is found some 2,000 feet or more below the Marcellus shale. The Utica shale is generally shallower to the West and deepens to the East. In addition to the Utica shale, other formations such as the Devonian shale, Marcellus shale, Clinton sandstone, Medina Sandstone, Trenton Limestone, Black River, Beekmantown dolomite and Rose Run all are potential targets below the Second Berea.
1st NRG Corp. is an independent energy company engaged in the exploration, development, and production of natural gas properties in the U.S. The company is based in Lone Tree, Colo.
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