Eclipse, Sequel establish joint venture to drill in Utica shale play

Eclipse Resources Corp. has entered into agreements with Sequel Energy Group LLC to establish a drilling joint venture on Utica shale acreage in Guernsey and Monroe counties in southeast Ohio, reports Oil and Gas Investor. The news site says the joint venture encompasses up to $285 million in funding from Sequel for two drilling programs involving 34 oil and natural gas wells. The agreement also includes a mutual option for a third drilling program consisting of 16 wells. For more, read the full story.