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Wednesday, February 11, 2015

GoFrac Leaving the Utica Shale to Go Frack Somewhere Else

From Columbus Business First:
GoFrac LLC, a fracking business working the Utica shale play, is closing in Ohio. 
A few years ago the Texas company bought 90 acres in Guernsey County and opened an operation in Cambridge, its only one in Ohio. It made significant investments, including rail spurs and silos, Norm Blanchard, executive director of the Community Improvement Corporation in Cambridge, told me, and it once indicated it could hire as many as 250 people. 
But eastern Ohio's Utica shale play, like other energy spots across the country, is struggling amid a downturn in oil prices. And now, GoFrac has told the local Ohio Means Jobs office this week it's closing, Blanchard said. 
"The sad part is we thought they were the most solid, we'd never lose them," Blanchard said, because of the amount of investment the company had made.
Read the rest of this article by clicking here.

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