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
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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
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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...Experts at FreightWaves, which supplies North American freight market participants with analytics, have found that spot prices as of early 2020 have considerably eased since the middle of 2019. × Petrochemical companies should have a much easier time finding competitive shipping rates in early 2020 compared with last year. The improvement for shippers occurred in
Read More...Demand worldwide for North American resins would be threatened if the Covid-19 virus spread were to turn into a pandemic. × Resin makers saw an improvement in polyethylene plastics in January that came after several months of margin deterioration but question marks including the Covid-19 spread make the outlook for the rest of the year
Read More...News Briefs × DuPont removes CEO, CFO citing unmet growth targets DuPont said on Feb. 18, 2020 its board of directors appointed chairman Edward Breen to the additional role of CEO and investor relations vice president Lori Koch as CFO following unmet targets. “While we made some progress in 2019, we did not meet our
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...The Williams Cos. Inc. has pulled its investment in the Constitution Pipeline project, a 125-mile line proposed to move natural gas from the Marcellus Shale in Pennsylvania to New York State. The Tulsa, Okla.-based pipeline giant said in a press release on Feb. 21 that it took the action in consultation with its partners—Duke Energy
Read More...A new University of Rochester study claiming methane emissions from fossil fuel activities are higher than previously estimated is encountering criticism from the scientific community because of significant limitations and the fact that it is at odds with existing research. Contrary to headlines that gave the impression the study’s findings are written in stone, even
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