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Thursday, July 27, 2017

Event Highlights Monroe County's Role in Utica Shale Recovery

From the News and Sentinel:
Because of the ongoing production, pipeline work, rig construction and other oil and gas-related activity in the county, Ohio Oil and Gas Association Director of Public Relations Mike Chadsey and Chamber of Commerce official Barbara Carslund decided to gather the organizations together to inform residents of developments in the industry, and how they expect their plans will impact local jobs and the economy in a positive way. 
Chadsey said he wanted to emphasize that the industry has been in a downturn in the last couple of years, but that it is beginning to make a comeback. 
“Monroe County has been at the heart of the industry coming out of the downturn,”Chadsey said. “Certainly the Wayne National Forest leases play a part in that, and Monroe County is geographically located on top of some really good geology. That is the fundamental basis of what we are talking about tonight.” 
Chadsey noted he thinks the industry’s cycles should be described more as an “ebb and flow” rather than with the more commonly used “boom” and “bust” terms. 
Jimmy Stewart, president of the Ohio Gas Association, agreed with the “ebb and flow” description, and said the industry is especially susceptible to changes in market forces — supply and demand — for natural gas, both locally and globally.
The whole article can be read by clicking here.

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