Eclipse Resources Corp. has again drilled what management believes is the world's longest onshore lateral, reporting that the Great Scott 3H well in Ohio's Utica Shale condensate window has a total measured depth (TMD) of 27,400 feet and a lateral of 19,300 feet.
That's nearly 1,000-feet longer than the company's Purple Hayes 1H well in Guernsey County, OH, which has a TMD of 27,034 feet and a lateral of 18,544 feet. The Purple Hayes was drilled in the condensate window last year and its results prompted the company to continue tinkering with new completion designs. It took Eclipse 17 days to drill the Great Scott, or one day less than the Purple Hayes.
The company is currently drilling an offset with a similar planned lateral extension. CEO Benjamin Hulburt said on Friday during a call to discuss first quarter results that the company plans to begin completions on the wells late in the third quarter. The company switched to generation three well designs last year but has already started a series of trials on generation four completions, testing tighter stage combinations, higher proppant intensity, engineered stage lengths and using diversion chemicals. All been tested on a seven-well dry gas Utica pad.
Hulburt said Eclipse will need to take several producing wells offline this quarter for completion activities on the generation four tests, which should cause sequential production to drop slightly. Eclipse produced 290.3 MMcfe/d during the first quarter, up from 201.1 MMcfe/d in the year-ago period and 255.3 MMcfe/d in 4Q2016.
Average realized prices, including cash settled derivatives, during the first quarter were higher year/year at $3.21/Mcfe from $3.04/Mcfe. Revenue was up to $101.9 million from $49.6 million in 1Q2016. But the company reported a net loss of $63.3 million (minus 23 cents/share) for the period, compared with a net loss of $813.9 million (minus $3.66) in 1Q2016.