News
Ohio Energy Production Rising As Wells Increase
By: Associated Press
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A new report says Ohio energy companies extracted more than twice as much oil and gas from the Utica shale during three months last year than all of 2012.
The figures were released thanks to a new law that requires companies to file production updates for the geological formation every quarter instead of annually.
The Columbus Dispatch reports Wednesday that in the three-month-period ending in September, 245 wells produced a total of 1.3 million barrels of oil and 33.6 billion cubic feet of natural gas.
For all of 2012, 85 wells produced 635,876 barrels of oil and 12.8 billion cubic feet of gas.
Industry experts attribute the increase to a growth in active wells.
The figures were released earlier this week by the Department of Natural Resources.