This Week’s Market Buzz
- Published: Thursday, 21 February 2013 12:21
- In 2011, 33 shale wells were drilled in Ohio. In comparison, more than 500 permits were approved last year to drill horizontal wells in Ohio's Marcellus and Utica shale formations, according to the state's Department of Natural Resources. And by 2015, the Ohio Oil and Gas Energy Education Program expects that about 4,000 new shale wells will be drilled in eastern Ohio. A report from Cleveland State University, Ohio State University and Marietta College, meanwhile, predicts that increased shale well activity will create close to 66,000 new jobs in the state's oil and gas sector and grow its economy by nearly $5 billion.