Utica Development PlanPDC plans to continue to de-risk and develop its existing 45,000 net acre position, and does not expect to materially increase its leasehold. The Company plans to finalize its mid-stream strategy for gas gathering and processing and complete its marketing arrangements to sell condensate, natural gas and NGLs by year-end 2012. PDC anticipates establishing a district field office in southeast Ohio in the first quarter of 2013. The Company's 2012 Utica capital program is expected to total approximately $95 million for drilling, completion and leasing activity. PDC anticipates a Utica capital budget of approximately $50 million in 2013 to drill, complete and connect four to five horizontal wells in Guernsey, northern Noble and northwest Washington Counties. The 2012 and 2013 drilling programs will test a substantial portion of the Company's leasehold.
PDC Energy Updates Operational Activities In The Utica Shale
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