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Tuesday, November 25, 2014

Industry Representatives Update Ohio Pipeline Situation

From Gas & Oil:
Mike Chadsey, director of public relations for the Ohio Oil and Gas Association (OOGA), said companies are waiting on pipeline for 58 wells in the state that aren't in production. 
"We have to get this pipe in the ground," Chadsey said. 
Companies have invested $6.6 billion in midstream in eastern Ohio. Horizontal drilling and hydraulic fracturing in the Utica and Marcellus has left companies pushing to develop infrastructure to transport and process record amounts of oil, gas and gas products. 
The shale play, said Peter Lidiak, pipeline director at American Petroleum Institute, has caused what many call an "energy renaissance." Pipeline and infrastructure construction has had a particularly positive effect on local economies and the national economy. 
Lidiak, citing a report from the consulting group IHS, said midstream could create 3.9 million jobs in the U.S. by 2025. Additionally, infrastructure development generated about $74 billion in local, state and federal revenue in 2012, he said, and that could double by 2025.
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