Utica Shale disappoints as a tight oil prospect.

Bloomberg: “U.S. drillers that set up rigs amid the rolling farmland of eastern Ohio on projections underground shale held $500 billion of oil are packing up.”“Four of the biggest stakeholders in untapped deposits known as the Utica Shale have put up all or part of their acreage for sale ….as early results show lower production than their predictions. ….The global exploration and production industry, which Cowen Group Inc. estimates will spend $645 billion this year, is learning how hard it is to transfer practices and expectations from one shale formation to another and replicate the success of the top fields, such as the Eagle Ford.”