First Choice Energy

Tuesday, August 28, 2012

Baker Hughes Closes on 108 Acres in Massillon, May Break Ground This Year

We reported back in February on the potential purchase by Baker Hughes of land at the Northeast Ohio Commerce Park in Massillon, and the 700 jobs it could bring to the area.  Now the Houston-based company has closed the deal.

From the Akron Beacon Journal:
Energy company Baker Hughes may break ground on its Utica shale gas operations hub in Massillon before the year ends, the city’s mayor says.
Baker Hughes Oilfield Services closed this month on a multi-million-dollar purchase of 108.8 acres at the Northeast Ohio Commerce Park.
The Houston-based energy industry giant, with $19.8 billion in sales last year, confirmed it closed on the land on Aug. 14. The company declined to comment further. The price tag is estimated at $3.3 million for the site at 3400 Millennium Drive.
Massillon Mayor Kathy Catazaro-Perry said Baker Hughes may break ground before the end of the year. “We’re kind of waiting to see how the [natural gas price] rebounds,” she said Monday.
Historically low natural gas prices, caused by an abundance of shale-derived gas, have prompted energy companies to slow drilling and delay related projects.
Baker Hughes’ closing on the Massillon site is good news for the city and surrounding area, Catazaro-Perry said.
“We’re just very happy Baker Hughes chose Massillon,” she said. “There will be more jobs, decent paying jobs. We’ll be the regional site for Baker Hughes.”
Read the rest of the article here.

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