About a year ago, Continental Resources
Continental says that up to 75% of its acreage could be prospective for dual zone development. By drilling additional wells from the same well pad, this development should be very cost-effective for Continental, Whiting Petroleum
Multi-zone stacked plays are nothing unique to the Bakken. Down in the Haynesville shale play, operators like Encana
Operators have been tight-lipped about drilling results in formations lying above or below the Marcellus. Range Resources
While we haven't said much about the other formations due to competitive reasons, we made progress identifying and quantifying the potential of the other formations and are extremely excited about their potential.
Range did report successfully drilling and completing one well in both the Upper Devonian and the Utica shale, but the company is keeping the results confidential. The company used words like "fantastic," "huge," and "tremendous" in describing the potential of these formations.
Other companies applying for permits to test formations above or below the Marcellus include Cabot Oil & Gas
It's too early to say whether Range's early enthusiasm for these stacked plays will be borne out, but investors don't appear to be paying much, if anything, for the potential of non-Marcellus horizons at present. At today's share price, I would argue that you get those other formations for free.