Total investment in Ohio’s resource-rich shale energy sector has reached $74 billion. It was since tracking began in 2011, according to a Cleveland State University study.
Prepared for JobsOhio, the report represents the most recent data available. It covers shale investment through the first half of 2018. It comes just weeks after IHS Markit released estimates that by 2040. The Utica and Marcellus shale region, of which Ohio is a significant part, will supply nearly half of all U.S. natural gas production.
The study from CSU’s Energy Policy Center at the Maxine Goodman Levin College of Urban Affairs. It was shown that drilling activity slowed but remained significant in Ohio from January to June 2018. During the first half of the year, investment in Ohio’s upstream, midstream, and downstream energy ecosystem totaled $4.6 billion, the study showed.
Upstream activities, such as drilling or royalties, accounted for more than $3.4 billion of this total. According to the Ohio Department of Natural Resources, 157 wells were listed as “drilled, drilling or producing” in Ohio. It is with Belmont, Monroe, and Jefferson counties represent the most active areas.
Investment continued in Ohio’s midstream assets. This include assets such as pipelines, processing plants, and storage, in the first six months of 2018. The investment included nearly $400 million worth of construction starts for processing plants, which represent the compression, dehydration and fractionation necessary in the processing of natural gas resources.
However, the period saw more limited investment in transmission lines, largely due to the recognition of the Nexus pipeline investment being attributed completely to the second half of 2017.
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Source: Construction Equipment Guide
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