Operations

“While our primary focus remains on the Utica oil, our long-term strategy of building a profitable business considers all aspects of sustainability such as environmental and safety performance, community involvement and governance that are each as strong as our operations.”

— Hardy Murchison, President and CEO

At Encino Energy, our core values drive every aspect of our daily operations. Our team operates with a consistent focus on results, transparency, innovation, ownership, and sustainability. We’re one of the largest U.S. private E&Ps, the largest oil producer in Ohio and one of the largest natural gas producers in the state. The operational information outlined below demonstrates why we’re a leading oil and gas acquisition company innovating for a more sustainable tomorrow.

A Foundational Asset in the Ohio Utica Oil

  • Purchased Chesapeake Energy’s Ohio Utica Assets in October 2018
  • Over 900,000 net acres of leasehold spanning phase windows
  • Acquired more than 900 wells producing over 600 MMcfe/d

Scale

  • One of largest U.S. private E&Ps with over 1 Bcfe/d net production
  • Largest oil producer in Ohio and one of the largest natural gas producers in the state
  • 60+ rig-years of economic development
  • Contiguous acreage enables drilling extended laterals that improve capital efficiency

Stability & Upside

  • >95% of land held by production and no leases situated on federal lands, allowing for development plan that optimizes returns
  • Flexibility to plan development to optimize returns and capitalize on the asset’s commodity optionality in the market
  • Have applied consistent approach to growing production
  • Operations entirely in the state of Ohio, which has widely supported development of the state’s natural resources

Operational Excellence

  • Drove down per foot development costs by 40% within three years of acquisition
  • Optimized completions, leveraging the latest technology to double early time production and increase ultimate recoveries by over 25%
  • Lowest per foot development cost of any operator in Appalachia in 2021

“We are incredibly proud of our team and what we’ve been able to accomplish in the Utica oil. EAP has demonstrated a laser focus on maximizing this asset for all of our stakeholders, while achieving best-in-class safety and environmental stewardship”

— Ray Walker, COO