The Upstream Outlook for the Utica in Ohio
The oil and gas industry in the Utica in Ohio is moving into an interesting new phase which will see the upstream market continue to grow as the demand for LNG and LNG Liquids increases. Utica E&P companies have received more permits in 2019 that they did in the four quarter of 2018.
The big news among E&P Companies in the Utica in Ohio is Encino Energy’s purchase of Chesapeake’s assets and the merger of Eclipse Resources and Blue Ridge Mountain Resources. I’m sure the purchase and merger will result in more drilling in the Utica not less.
Ascent Resources will also be driving drilling in Ohio. Ascent has been aggressively permitting and has received 29 permits through the first six weeks of 2019. It is said to have eight rigs in Ohio.
Gulfport’s drilling for all purposes stopped in the fourth quarter, but has received eight permits so far this year.
To get a best comprehensive picture of drilling in the Utica in Ohio, I encourage you to attend the Utica Midstream on March 21, 2019 at Walsh University in North Canton, Ohio.
One of the featured speakers will be Rick Simmers, chief of the Ohio Department of Natural Resources’ Division of Oil and Gas Resources Management. Chief Simmers will review drilling activity in 2018 and outlook for drilling in 2019.
If you are interested in attending, I would register now. Last year’s Utica Midstream Seminar sold out. We expect this year’s to sell out also.
Learn more about this year’s Utica Summit.