However, unless the companies plan on flaring, the gas produced is going to come onto the market.
As Chesapeake desperately tries to raise the proportion of their income coming from oil and NGLs they are going to have about 6% more gas to sell in 2012 than in 2011.
The front futures are down 8.9 cents at $2.42.
From the Utica Shale blog:
Utica Shale Horizontal Permits Reach 194
The Ohio Department of Natural Resources has now issued 194 horizontal permits to drill into the Utica Shale formation in Ohio as of 4/5/2012. The dates, well names, operators and locations of the most recent 54 permits are:
4/5/2012 Belmont Hess Porterfield Gas Unit C 1H-17 4/5/2012 Monroe HG Energy Whitacre Enterprises INC 701 S-5HA 4/5/2012 Monroe HG Energy Whitacre Enterprises INC 702 N-2H 4/5/2012 Monroe HG Energy Whitacre Enterprises INC 702 N-1H 4/5/2012 Monroe HG Energy Whitacre Enterprises INC 701 N-7H 4/5/2012 Monroe HG Energy Whitacre Enterprises INC 702 S-4H 4/5/2012 Monroe HG Energy Whitacre Enterprises INC 702 S-5H 4/5/2012 Monroe HG Energy Whitacre Enterprises INC 702 S-6H 4/4/2012 Carroll Chesapeake Tuckosh 35-11-4 1H 4/3/2012 Carroll Chesapeake Coe 34-12-4 5H 4/2/2012 Carroll Chesapeake Wagner 11-13-5 5H 4/2/2012 Columbiana Chesapeake Trebilcock South 25-15-4 8H 4/2/2012 Harrison Chesapeake Rensi 4-12-6 1H 3/30/2012 Carroll Chesapeake Slates 16-12-5 3H 3/30/2012 Carroll Chesapeake Whitacre 26-17-7 8H 3/30/2012 Columbiana Chesapeake Carney 17-7-1 3H 3/23/2012 Columbiana Chesapeake Hanover Farms 34-15-4 3H 3/23/2012 Columbiana Chesapeake Hanover Farms 34-15-4 6H 3/23/2012 Monroe HG Energy Whitacre Enterprises INC 701 N-3H 3/23/2012 Monroe HG Energy Whitacre Enterprises INC 701 N-1H 3/23/2012 Monroe HG Energy Whitacre Enterprises INC 702 N-3H 3/23/2012 Stark Enervest Habrun 5H 3/21/2012 Belmont Hess Capstone Holdings 2H-9 3/20/2012 Jefferson Chesapeake Vahalik 18-11-4 10H 3/20/2012 Muskingum Enervest Consolidated Coal Unit 2-H 3/19/2012 Carroll Chesapeake Mangun 22-15-5 6H 3/19/2012 Carroll Chesapeake P Brown 9-13-5 1H 3/19/2012 Columbiana Chesapeake Morris 28-11-2 3H 3/19/2012 Columbiana Chesapeake Kernich 3-10-2 1H 3/19/2012 Harrison Chesapeake Henderson South 10-12-6 1H 3/19/2012 Harrison Chesapeake Henderson South 10-12-6 5H 3/19/2012 Stark Chesapeake Ronald Smith 3-17-6 3H 3/19/2012 Stark Chesapeake Ronald Smith 3-17-6 1H 3/15/2012 Carroll Chesapeake Tuckosh 35-11-4 1H 3/15/2012 Carroll Chesapeake Burgett 7-15-6 10H 3/15/2012 Harrison Chesapeake Buell 10-11-5 10H 3/15/2012 Harrison Chesapeake Jewett Sportsmans Club 4-11-5 6H 3/15/2012 Harrison Chesapeake Jewett Sportsmans Club 4-11-5 8H 3/15/2012 Jefferson Chesapeake Kirk West 22-10-3 6H 3/15/2012 Jefferson Chesapeake Cain 16-12-4 5H 3/12/2012 Carroll Chesapeake Fligiel 29-12-5 8H 3/12/2012 Columbiana Chesapeake Henderson 25-16-5 8H 3/8/2012 Carroll Chesapeake P Brown 9-13-5 8H 3/7/2012 Carroll Chesapeake Coe 34-12-4 3H 3/7/2012 Carroll Chesapeake Tuckosh 36-11-4 3H 3/7/2012 Portage Chesapeake Murvay Por 3H 3/6/2012 Columbiana Chesapeake Janie Trust 5-12-3 10H 3/5/2012 Carroll R E Gas Graham 1H 3/5/2012 Columbiana Chesapeake Trebilcock 25-15-4 1H 3/2/2012 Carroll R E Gas Brace 1H 2/29/2012 Carroll Chesapeake Heaton 24-16-6 8H 2/28/2012 Harrison Gulfport Energy Wagner Unit Wagner 1H 2/27/2012 Columbiana Chesapeake Reed 28-11-2 8H 2/27/2012 Stark Chesapeake Keller 21-19-6 5H
