Ohio’s Utica shale industry could boost petrochemical growth
Thursday, December 17, 2015
Crain’s Cleveland Business reports that Ohio’s Utica shale shouldn’t be counted out, at least just yet.
A recent study, conducted by the Center for Economic Development and the Energy Policy Center at Cleveland State University’s Maxine Goodman Levin College of Urban Affairs, points out that Ohio, a largely energy manufacturing state, will continue to increase production. By 2020, Ohio is expected to produce 162,000 barrels of ethane per day.
The study also notes that if the proposed ethane crackers are built in Ohio or along the Ohio River, the state will be able to use its own natural resources and benefit from more of its wealth instead of purchasing feedstock from facilities in Texas and Louisiana on the Gulf Coast.
Via: Crain’s Cleveland Business > Shale development creates possible petrochemical industry growth for Ohio
Related: Cleveland State University releases report on Utica shale economic opportunities Nov. 19, 2015
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.