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Utica Shale to Add Jobs in Ohio

by Kenneth E. DuBose on July 20, 2011

The oil & gas leasing boom in Ohio continues as courthouses fill with landmen looking to lease mineral rights. The eastern part of the state will benefit from growing industry involvement. Lease bonuses have already climbed to $10,000 per acre in some cases. Chesapeake Energy has stated they have potential to drill 12,000 wells on their land and that the industry could add between 6,000 and 8,000 jobs to the area. That’s good news for a state that is still feeling the impacts of the recession

“ ‘The amount of money spent for leases is incredible,’ he said, noting that $1 billion already has been spent by oil and gas companies acquiring leases in just five counties — Tuscarawas, Harrison, Carroll, Jefferson and Columbiana.”“ ‘If you go to the courthouse, it is crawling with lease agents,’ he said. ‘Harrison County has just been unbelievably busy.’ ”

“Harrison County — site of the first well drilled in the area (located between Jewett and Scio) — already has felt the impact, he said. The value of vacant land has jumped from $1,500 an acre to between $7,500 and $10,000 an acre.”

“Two wells are being drilled in Carroll County, but none have been drilled yet in Tuscarawas County, only a test well, Hillyer said.”

“He predicted that there will be a tremendous amount of construction — as well as new jobs — in the region.”

“Chesapeake Energy Corp., one of the companies leading the way in developing eastern Ohio’s oil and gas reserves, has room for 12,000 wells on land it has leased, Hillyer said. Each well requires 30,000 feet of pipe. There are also plans to construct a 7-mile pipeline across Carroll County.”

“Employment in the oil and gas industry in this region could increase by 6,000 to 8,000 jobs, Hillyer said. ‘We don’t have the people trained for these jobs, so they’re coming from other states.’ ”

Read the full news release at TimesReporter.com

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