Land Rush In Eastern Ohio A Boon For The Economy
The latest hot spot for oil and natural gas is in eastern Ohio.Reuters put out a FactBox on Oct. 12:
Some analysts say energy companies haven't been this interested in the Buckeye State since John D. Rockefeller opened Standard Oil in Cleveland in the late 19th century.
Now there's a land rush for drilling rights in what is called the Utica Shale.
Chasing Leasing Rights
Columbiana County Recorder Craig Brown has little privacy at his desk. His offices are packed with workers preparing oil and gas leases and researching the mineral rights of local homeowners.
"Yesterday, I actually had four people in here all waiting to use one microfilm viewer," Brown says. "So yeah, I've actually given up some of my own personal space here, which has taken a little bit of adjustment."
It's been like this, every day, for more than a year. That's because less than a mile below this small Appalachian village, and extending across eight states and Canada, is the energy-rich Utica Shale.
Aubrey McClendon heads Chesapeake Energy, the country's second-largest natural gas producer. He didn't skimp on the superlatives when describing the region this summer on CNBC's Mad Money.
"What can it mean in the form of oil? I think this could be 25 billion barrels of oil equivalent — in the form of oil, natural gas liquids, natural gas. It could be one of our biggest discoveries in U.S. history," he said.
Exxon Mobil, Chevron and Royal Dutch Shell are also chasing leasing rights here....MORE
FACTBOX-Companies drilling in Ohio's Utica shale
Oil companies are scrambling to drill in the Utica
shale, a new, unconventional oil hub in eastern Ohio that some say has more
potential than other U.S. shale plays.
Eight companies have started seeking cheap, domestic oil in the Buckeye
state and secured drilling permits for more than 80 oil and gas wells since
December 2009, data from the Ohio Department of Natural Resources shows.
The companies will likely use hydraulic fracturing technology, which has
unlocked huge shale gas and oil reserves in fields from North Dakota to Texas,
on the shale rock in Utica....MORE
The following is a list of well permits the Ohio Department of Natural
Resources had granted to oil companies as of the week to Sept. 25, 2011.
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Company Horizontal Vertical Status
Well Permits Well Permits
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Chesapeake 33 28 One horizontal well is producing, one is completed and six others
have been drilled. Chesapeake has
started drilling five vertical
wells.
Anadarko 3 3 Drilling conductor hole on one vertical well.
Consol Energy 2 1 All wells at permitting stage.
Eclipse Energy 0 1
Enervest 2 2
Operating LLC
HG Energy 1 1
Marquette 1 0 Well drilled.
Exploration
Ohio Buckeye 3 1
Energy
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