Killajoules

Shell announces Utica gas discovery in Pennsylvania
Shell today announced new discovery wells (Neal and Gee) within the Utica formation in Tioga County, Pennsylvania, USA. These wells were drilled to a total measured depth of approximately 4,420 and 4,724 metres (14,500 and 15,500 feet) with lateral lengths of 945 metres (3,100 feet) at Gee and 1,280 metres (4,200 feet) at Neal, respectively. These results are comparable to the best publically announced thus far in the emerging Southeast Ohio Utica dry gas play.

BP Enters the Utica/Point Pleasant Shale in Ohio
BP (NYSE: BP) announced today an agreement to lease thousands of acres in northeast Ohio for future oil and gas production in the Utica/Point Pleasant shale formation. Utica/Point Pleasant is a relatively new and very promising shale basin that consists of a potentially significant liquids-rich gas source, and this deal adds an important American energy source to BP’s onshore gas portfolio.

Total expands its position in the USA, entering the Utica Shale formation in Ohio
Total announces that its subsidiary, Total E&P USA, Inc.(“Total”), has signed and completed on December 30, 2011 an agreement to enter into a Joint Venture with Chesapeake Exploration, L.L.C.,a subsidiary of Chesapeake Energy Corporation (NYSE:CHK), (“Chesapeake”) and affiliates of its partner EnerVest Ltd.

Leading Players Spectra Energy, American Electric Power and Chesapeake Energy Announce an Agreement of Intent to Develop Ohio In
Spectra Energy Corp's (NYSE: SE) Texas Eastern Transmission, LP (Texas Eastern), American Electric Power (NYSE: AEP) and Chesapeake Energy Marketing, Inc., a wholly owned subsidiary of Chesapeake Energy Corporation (NYSE: CHK), today announced their intention to advance the development of the Ohio Pipeline Energy Network (OPEN) project, a proposed expansion of the Texas Eastern pipeline system that will connect Ohio's Utica and Marcellus shale gas supplies with the fast-growing markets attached to the Texas Eastern system, in particular natural gas-fired power generation.

Carrizo Oil & Gas, Inc. and Avista Capital Partners Announce Formation of Joint Venture in Utica Shale
Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) and Avista Capital Partners announced today that they have entered into a joint venture to acquire and develop acreage in the liquids rich region of the Utica Shale. The JV has closed on its first acquisition of 15,000 net acres in eastern Ohio and northwestern Pennsylvania at an average cost of less than $1,500 per acre. Under the terms of the agreement, Carrizo will own an initial 10% interest in the joint venture properties with Avista owning the remaining 90%. Avista has the right to contribute aggregate funds of up to $130 million to the joint venture, with the ability to raise this amount by an incremental $70 million.

Hess and CONSOL Energy Enter into Joint Venture in Utica Shale in Ohio
Hess Corporation (NYSE: HES) announced today it has entered into an agreement with CONSOL Energy Inc. to acquire a 50 percent interest in CONSOL's nearly 200,000 acres in the Utica Shale in eastern Ohio for aggregate payments of $593 million.