The Total/CHK trade values the Utica at 15000 $ US per acre corresponding to a SP in QEC around 24 $ US.

Note: the Utica becomes increasingly wet towards the west, so the acres Total bought (in Ohio) contains both gas and condensate, whereas QEC's possessions only contains dry gas.

We have hit 4.15 NOK in Oslo now (0,74 CAN), with JPM as the biggest buyer. if we make it to 4.25 the way towards 4.85 is open, and might be a very probable stop in establishing an uptrend.

All the best

JH