EID's Shawn reports on 2012's Top 12 Utica Shale investments:
"In 2012, Utica Shale development brought Ohio significant investments from companies looking to make our state its home. With the year winding down, it seemed fitting to recap some of the bigger announcements that happened over the past year. Giving a look to what we’ve seen here in the past 12 months, we can expect 2013 to bring even more exciting news for eastern Ohio.
V&M Star Produces First Tubular Pipe For Shale Development
Steel has seen a resurgence in Ohio thanks to shale development. US Steel, Timken and V&M Star all have been seeing an increase in business thank to shale development. In November, V&M Star announced they produced their first tubular steel pipes to be used in oil and gas development. The state-of-the-art mill cost $350 million and will create new 350 jobs. The new mill will have initial production capacity of 350,000 tons of seamless pipe per year.
MarkWest Investing $500 Million in Harrison and Noble Counties
In the spring of last year, MarkWest energy announced plans to build two processing plants in Ohio to process the liquids rich gas coming from the Utica Shale development. MarkWest decided to make their base of operations in Cadiz, Ohio located in Harrison County. Their second plant will be built in Noble County
BP Buys $330 Million in Leases in Trumbull County to Develop Utica Shale
Late spring BP purchased leasing rights to 84,000 acres in Trumbull County this following a leasing deal with the Associated Landowners of the Ohio Valley (ALOV). Thanks to this agreement, BP has now purchased office and warehouse space in the Youngstown Commerce Park and plans to develop their first well in April 2013.
Gulfport Develops Not One But Three of the Top Producing Wells in the State
Announcement of Gulfport Energy’s Wagner Well sent encouraging new across the oilfield not only in Ohio but across the United States. With production results exceeding the previous top well in the state, the Buell Well, many wondered if Gulfport could repeat their success. Gulfport did not once but twice with the Shugert 1-1H and Shugert 1-12H, besting the Wagner Well. Thanks to these exciting results, Gulfport just recently announced that it acquired approximately 37,000 acres for around $372 million.
Halliburton Breaks Ground In Muskingum County
Halliburton broke ground at the Eastpointe Business Park in April. The new facility, when finished, will host a 135,000 square foot facility that will provide over 300 jobs to Ohio residents. The 178 acre facility will house a full-service center supporting eight or more of Halliburton’s business lines that will be used in the ongoing development of the Utica Shale. The site is expected to be completed by early 2013 and Halliburton has already hired over 100 Ohio residents since April.
Compressed Natural Gas Creating Significant Savings Across Ohio
With the tremendous savings created by the exploration of shale in both Ohio and Pennsylvania, companies in Ohio have now made the switch to CNG to run their fleets and busses. Thanks to inexpensive clean burning fuel bus systems like COTA in Columbus, Smith Dairy in Orrville and the City of Hamilton have all switched to CNG to power their fleets."
READ THE LAST SIX: http://www.eidohio.org/top-12-utica-investments-for-2012/