ODNR plans to issue fewer horizontal drilling permits this year
Monday, April 13, 2015
In 2014, the Ohio Department of Natural Resources issued 702 horizontal drilling permits. The Repository reports that this year, ODNR planned to issue 800, but now that oil and natural gas prices have plummeted, it expects to only issue 550 to 600 permits.
Last year, oil production and natural gas production tripled and quadrupled, respectively. Production is expected to grow in 2015, but probably not as much as in the past few years. While low oil and gas prices have affected drilling, rigs have also become more efficient and have been able to drill wells more quickly, leading to fewer rigs in the state.
Via: The Repository > State: Fewer horizontal drilling permits this year
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