Chief
executive
Chip
Johnson
said
the
explorer
had
also
decided
to
take
up
a
$63
million
land
option
from
Avista
Capital
that
will
bring
its
southern
Utica
Shale
acreage
to
a
total
of
around
14,000
net
acres.
The
Nasdaq-listed
explorer
said
it
aimed
to
hike
oil
output
by
28%
in
2013
with
natural
gas
output
declining
3%
over
the
same
period.
The
explorer
is
adding
a
dedicated
rig
to
one
already
in
place
for
its
Niobara
formation
drilling,
with
three
in
place
in
the
Eagle
Ford
Shale
and
another
in
the
Marcellus
shale.
Some
$385
million
of
the
$500
million
capital
spend
will…
