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Monday, May 21, 2018

Report: Shale Industry Has Invested Almost $64 Billion in Ohio

From Kallanish Energy:
The shale industry has invested $63.9 billion in Ohio as of mid-2017, according to a JobsOhio official. 
That private sector investment in the Utica Shale in eastern Ohio started in 2011, Dana A. Saucier Jr., senior managing director, Energy and Chemicals, Food & Agribusiness,said in an interview in Smart Business. 
The $63.9 billion total includes upstream, midstream and downstream investments, Kallanish Energy reports. 
To date, Ohio has permitted 2,830 Utica wells, of which 2,346 have been drilled and 1,890 are producing. 
“Those looking to invest in Ohio’s shale opportunity have confidence in the state and the business environment it fosters,” he said. “The prevailing sentiment is that it’s an attractive place to deploy capital.” 
Pipelines to move natural gas to market have brought “an uptick in additional investment in the last 12 months of around $10 billion,” he said.
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