The U.S. is awash in cheap shale oil and gas. After decades of declining U.S. oil output, the fracking revolution unlocked vast oil and gas deposits and made America the world’s No. 1 oil producer. The once-massive U.S. petroleum deficit — $436 billion in 2008 — turned into a surplus last September. “We do not
Read More...It grew 17 percent compared to the last quarter of 2018. Horizontal shale wells in the state produced 6.8 million barrels of oil and 685 billion cubic feet of natural gas during the fourth quarter of last year, the Ohio Department of Natural Resources announced Friday. Oil production grew 17 percent compared to the last
Read More...
NAI Ohio River Corridor’s Bryce Custer is attending the NAI Global Leadership Summit. NAI global leadership summit is a unique forum at which principles, directors and managers convene for the purpose of strengthening relationships the enable an open sharing of information and nee business opportunities, while connecting with a shared vision to drive more business,
Read More...Residents of our region received some positive news Wednesday when it was learned that a local company has plans to build a gas-to-liquids facility in Saline Township in northern Jefferson County. Hammondsville-based Orin Holdings and county officials see a big potential for the facility, which would be located on 500 acres of ground that has
Read More...COLUMBUS, Ohio – During the fourth quarter of 2019, Ohio’s horizontal shale wells produced 6,803,057 barrels of oil and 684,771,042 Mcf (685 billion cubic feet) of natural gas, according to the figures released today by the Ohio Department of Natural Resources (ODNR). Compared to a year ago, oil production increased by 17.08% and natural gas production
Read More...The entire oil and gas industry and its investors are seriously reassessing the value of their beloved fossil fuels in the context of a major energy transition. But don’t be fooled: The returns of oil and gas projects are still highly competitive and plenty of capital is still flowing. While the energy transition and the
Read More...
NAI Ohio River Corridor’s Jim Elsfelder attended the Ohio Valley Oil and Gas Association’s February dinner meeting with APEG and USDA to discuss economic development in the Appalachian Basin. Guest speakers were Mike Jacoby, President and CEO of APEG, Appalachian Partnership for Economic Growth and Michael Rutherford, USDA Program Director.
Read More...As the organization in charge of providing the general public with fact-based, educational information about Ohio’s important natural gas and oil industry, we’re deeply disappointed a recent article (“Rolling Stone Article Highlights Area Fracking Concerns,” Feb. 15) irresponsibly omitted key facts and context that is critical for readers to understand. Naturally occurring radioactive materials (NORM) in
Read More...PTT readies $5bn war chest to turn US into ‘second home base’ BANGKOK — PTT Global Chemical, an arm of Thai energy major PTT Group, has set aside $5 billion for its next five-year investment, of which around 80% will be spent on a petrochemical complex in the U.S. and acquisitions. Chief Executive Kongkrapan Intarajang said the company is
Read More...The latest “opportunity zone” data shows momentum building for the Trump administration’s signature real estate tax break program. Last year, sale prices jumped for most property types located in federally designated opportunity zones. Notably, CoStar data shows that average prices paid for multifamily and hotel properties in these low-income areas surged to a point where
Read More...by Tom Westfall WVONGA Board President The folks who make up West Virginia’s oil and natural gas industry are proud of their work. They’re moving West Virginia ahead, and economic numbers we see each year are a source of pride. We face challenges as commodity prices are decreasing. Prices will remain low for the foreseeable
Read More...Work is being done on the project, which could get a final investment decision sometime this year. It’s been under development since at least 2015.
Read More...by: D.K. Wright Posted: Feb 20, 2020 / 01:31 PM EST / Updated: Feb 21, 2020 / 06:21 AM EST WEIRTON, W. Va. (WTRF) It could create more than 3,000 jobs and involve $2 billion in new investment. It would be called Frontier Crossing Development and could be located on unused former industrial property. Officials say The Frontier Group of
Read More...LONDON–(BUSINESS WIRE)–Technavio has been monitoring the industrial valves market in oil and gas industry and it is poised to grow by USD 4.44 billion during 2019-2023, progressing at a CAGR of 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market
Read More...A bill introduced last week by Sen. Bernie Sanders (I-Vt.) that Rep. Alexandria Ocasio-Cortez (D-N.Y.) helped craft would ban fracking nationwide by 2025, according to its newly unveiled text. The legislation would immediately prevent federal agencies from issuing federal permits for expanded fracking, new fracking, new pipelines, new natural gas or oil export terminals and other gas and oil infrastructure. A House version
Read More...