Can Utica Shale Really Compete With the Permian?

The Utica shale has for years been known as a gas-producing play. But this may be about to change as one company reports promising results from its oil well offensive in the area. EOG has been drilling in the Utica shale for months now, and it just reported that the play can “compete with the best plays in America.” The production figures EOG reported for its wells there support this: over the first 180 days since drilling, a three-well pad dubbed Xavier produced an average of 450,000 barrels of oil equivalent in total. Another…