It may only be a matter of time before oil and gas activity increases again in Columbiana County.
That was the message delivered by Mike Chadsey, director of public relations for the Ohio Oil and Gas Association, who attended this week’s Columbiana County Port Authority meeting. He said oil and gas prices drive the market, and as those prices increase, so will drilling development in the county, he told the board during a brief presentation.
The county was among the first in Ohio to experience a leasing boom in 2010 from companies wanting to drill for oil and natural gas in the region’s Utica shale reserves. Leasing activity continued until about 2013, followed by development, but all of that began to slow considerably after the increased supply resulted in a sharp decline in oil and gas prices,
such as the drop in prices, he said.The whole article can be read by clicking here.
Connect with us on Facebook and Twitter!