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Friday, July 5, 2013

Future of Utica Shale is Very Much Tied to Future of Chesapeake Energy

From Business Insider:
But the delegation cited a study from research group IHS suggesting the Utica could generate 143,000 and generate $18 billion for the economy. 
And one company is overwhelmingly responsible for developing those resources: Oklahoma City-based Chesapeake Energy.
According to a new report from the Ohio Department of Natural Resources, the company was responsible for 2/3rds of documented shale wells drilled in 2012 — 53 of 85.
Compare this with Pennsylvania, where dozens of different companies have drilled the more than 2,300 wells in the Marcellus Shale.
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