|Shale development is being called|
a "lifeline" for Monroe County
Read much more by clicking here.When Monroe County Auditor Pandora Neuhart thinks about her county's future, she doesn't dwell on what might be with bankrupt Ormet Corp.; instead, she and others are looking to the natural gas industry as the answer for the county's long-term finances.According to information from the Ohio Department of Natural Resources' Division of Oil and Gas Resources, Monroe County had eight producing Utica Shale wells during the third quarter of 2013, the latest period for which data is available. More than 60 drilling permits have been issued in the county, with a number of other wells drilled and ready for production, once infrastructure is in place.While Ormet works through its bankruptcy, Magnum Hunter Resources is producing about 11.7 million cubic feet of natural gas daily from Ormet property directly across Ohio 7 from the Hannibal plant.
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