French energy giant Total earlier this week said it was halting further investments in American shale plays including Ohio’s Utica shale.
The reason is the low prices for natural gas in the United States.
Total had purchased a 25 percent investment from Chesapeake Energy Corp. in 10 counties in eastern Ohio for $2.3 billion. It later purchased a 90 percent stake in 9,000 leases in Columbiana County for an additional $2 billion.
Joseph F. Barone