1st NRG Corp. has signed an agreement to participate in the development of prospective acreage in SE Ohio particularly seeking Utica Shale potential.
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 (to name a few) have been acquiring acreage in Ohio.
1st NRG has signed an agreement with a private energy company to participate in the development of prospective acreage in SE 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.