In a bid to find the next big source of oil and gas in Ohio, preparations for two exploratory wells are underway in North Central Ohio.
Cabot Oil & Gas Corporation has permits from the Ohio Department of Natural Resources to build two exploratory wells in Green and Mohican townships in southern Ashland County. Drilling on the Green Township site is anticipated to begin within the week, according to Cabot officials.
It’s the first project in Ohio for Cabot, a Houston-based company. The majority of Cabot’s work has been focused on building similar wells, most recently in Susquehanna County, Pennsylvania, and using the technique known as hydraulic fracturing — more commonly known as fracking — to break through layers of rock underground to harvest trapped oil and gas.
Cabot plans to construct five exploratory wells, primarily in Ashland County, but also spreading into Holmes, Wayne, Richland and Knox counties.
If these test wells find recoverable natural gas and/or if oil and production wells are drilled, landowners across the area who sign leases with Cabot could see significant financial benefits as have been seen in the eastern Ohio gas and oil boom over the past decade. It could provide a once-in-a-lifetime boost to the area’s economic landscape.
On the other hand, some citizens are concerned about the safety of such drilling operations and fear the impact the potential industrialization would have on the local environment and quality of life. Potential pollution of the local water aquifer is another major concern.
Looking far deeper
The Ashland County search differs from previous oil and gas exploratory efforts in Ohio, going far deeper into different layers of rock formation. Cabot officials are being a bit coy about what they expect to find.
George Stark, director of external affairs of Cabot Oil and Gas, they are building the exploratory wells with the expectation of finding oil or gas in the region.
Hopefully a long term lease. Welcome to the discussion runner17
Another nice article
Do anybody know what Cabot is paying for these leases?
$100/acre in Knox County(outside storage field)
$25/acre if you are in the storage field to amend existing lease from Columbia to include horizontal drilling plus 1/8 royalty
Big spenders this Cabot Oil.... any news on the Kamenik well?
When you’re talking moving west... Monroe Twsp/Richland county is only a few miles from the exploration in Ashland county, but with that said it seems like Cabot is a class act. Dotting i’s and crossing t’s. Well done Cabot.
thanks Gary ...