Daniel J. Rice IV, Rice Energy CEO, said the well, drilled in the Marcellus Sale formation, has a lateral length of 10,200 feet and was drilled from the kick off point to the target in less than five days. He said, “Not a lot of companies have the good fortune to drill 100 wells, so we’re very appreciative of our team that got us to this stage.”
The company has one horizontal rig operating in Ohio and two in Pennsylvania. A fourth well is in the works and will be exploring the Utica shale where the company projects to have five producing wells in place before the year’s end.
Rice commented on how the initial results from the company’s first well in the Utica formation have been promising. He said the wells have the potential to become three of the most abundant wells any operator has seen in the Utica to date.
The majority of Rice Energy’s acreage in Ohio is in Belmont County. According to Rice, the county has more rigs in operation than anyplace else in the Appalachia. The company plans to begin drilling its first Utica well in Pennsylvania’s Greene County this spring and will begin testing by the end of the year.