Monday, November 16, 2015

Latest Utica Shale Numbers

 Utica Shale: The Ohio Department of Natural Resources has issued 2,078 permits for drilling in the Utica shale since December 2009, according to an analysis of the latest figures by the Ohio Energy Resource Alliance.  That includes 13 more permits since the ODNR's most recent update on Oct. 31.  Since December 2009, 1,635 Utica wells have been drilled, 1,034 of which are in production.  Carroll County has the most permits with 497 while Harrison County is second with 378 permits and Belmont County is third with 292 permits, according to the OERA.
In other shale news, a new report from Bricker & Eckler LLP outlines more than $5.7 billion in new investments made in Ohio since spring 2015 as a result of shale development.  "Since we began tracking shale development two years ago, growth has been consistently on the rise," partner and Oil & Gas Industry Group co-chair Matt Warnock said in a statement. "Not only do we continue to see new projects, but the level of investment continues to be significant - in the billions. Ohio continues to reap the benefits of active, ongoing, and new development in the energy sector."  The 16-page report touches on several large scale investments, including:
  • A potential $5.7 billion ethane cracker currently being explored for Belmont County.
  • *$640 million invested in natural gas gathering and water services assets in Belmont and Monroe counties by Rice Midstream Holdings and Gulfport Energy Corp.
  • An eastern Ohio pipeline from Marathon Oil and Price Gregory estimated to bring in $1 million in weekly payroll.
  • A $1.75 billion pipeline effort in Ohio and two other states.

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