Read the whole response here.In its recent coverage of the Ohio shale industry, Bloomberg News suggested that the oil and gas industry is leaving Ohio in droves. It’s fitting that baseball season is underway, because the report was an unequivocal swing and miss.The central problem with Bloomberg’s narrative is that it only focused on oil development, and thus completely ignored the amazing story of the natural gas liquids (NGLs) activity occurring in eastern Ohio. And that liquids story is nothing to cast aside so easily. In fact, thanks in large part to NGLs, the oil and gas industry is already helping Ohio return to economic prosperity, employing 38,000 people in the state — a number that will only continue to grow.More specifically, the increasing investment in Ohio is due to the vast potential of NGLs in the Utica/Point Pleasant formation in the eastern part of the state. For this reason, Ohio has already seen over $7 billion worth of natural gas processing and infrastructure investment from midstream companies like Momentum, Markwest, Dominion and Caiman Energy. In addition, Ohio currently has 20 different operators developing in the Utica Shale of eastern Ohio. Major companies like Halliburton, Schlumberger and Baker Hughes are also setting up shop here in Ohio to provide well servicing for the operators.If Bloomberg News thinks companies are packing up and leaving the state, it would certainly be news to these multi-billion dollar firms who are investing in Ohio for the long haul.
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