Wednesday, January 22, 2014

CSU Study Shows Huge Economic Impact From Shale in Ohio

In the latest Ohio Utica Shale Gas Monitor from Cleveland State University, researchers re-examined the overall impacts of Utica Shale development, finding strong growth in sales tax revenues, a rapid growth in permitting and activity, job creation, and even a redefining development boundaries.  All of this activity has boded well for eastern Ohio, as companies are investing billions of dollars in a portion of the state that has needed an economic boost for quite some time.
Following the data made available by companies and the Ohio Department of Natural Resources, the latest Ohio Utica Shale Gas Monitor changed its area of focus and redefined the Utica Shale activity area to more accurately represent where development will take place in the near future. From the report:
  • “Drilling and permitting have shifted in recent months, indicating the industry is migrating activity south and east, focusing its areas of investment. The number of counties with strong shale activity has gone to eight from 15, and moderate activity has gone to five from 30.” (p. 3; emphasis added)
  • “Strong shale counties have the highest potential for producing commercial amounts of NGLs. The strong shale counties are along Ohio’s eastern border in the Northern Appalachian portion of the state: Belmont, Carroll, Columbiana, Guernsey, Harrison, Jefferson, Monroe, and Noble.” (p. 4)
  • “Moderate shale counties are to the north and immediate west of the strong counties. Mahoning, Portage, Stark, Trumbull, and Tuscarawas are the five moderate counties.” (p. 4)
You can read more of that summary of the report by clicking here.

And here is the actual report:

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