Oil- and gas-related projects and new business opportunities that have either been announced or established in Ohio over the last six months are worth at least $3.5 billion, according to a monthly report compiled by the Columbus, OH-based law firm Bricker & Eckler.
All told, a list compiled by the law firm that includes dozens of shale-related projects and new companies that have arrived in the state since 2010 represents $22.3 billion in state investments. The latest $3.5 billion is mostly related to investments for new pipelines and processing facilities in the state.
Among some of the recent announcements, Appalachian Resins Inc. has said it plans to spend $1 billion on a small-scale ethane cracker in Monroe County (see Shale Daily, May 2), while the Columbia Pipeline Group has proposed spending $1.75 billion on the Leach XPress, a 160-mile pipeline that would transport Utica Shale gas to West Virginia (see Daily GPI, Aug. 12). Regency Energy Partners LP also announced a plan to spend $500 million with an affiliate of American Energy Partners LP to construct the Utica Ohio River Project, a 52-mile pipeline that will connect with the Rockies Express (see Shale Daily,Aug. 7).
Like other law firms in the state, Bricker & Eckler compiles its report from news media reports and keeps a running tally of projects that are either proposed or under construction. The firm's investment estimates also don't include projects that have not provided any.
Ohio has permitted 1,630 horizontal Utica Shale wells to date and 1,176 have been drilled. It also has permitted 44 horizontal Marcellus Shale wells and 27 have been drilled. Last week, the U.S. Energy Information Administration estimated that operators in Ohio's Utica Shale will produce nearly 1.7 Bcf/d of natural gas next month.