Is the Utica-shale drilling boom meeting expectations? Not really, according to a report by The Columbus Dispatch.

State records show that 165 wells have been completed in 2012 with 22 more being drilled. That number is much lower than the estimated 250 wells ODNR officials told state legislators to expect by the end of 2012.

What’s the deal?

Drilling and production has slowed because of low natural gas prices according to Tom Stewart, the vice president of the Ohio Oil and Gas Association.

Read it:

“That all has a throttle effect on development,” he said. Despite the delays, state officials said shale drilling is alive and well in Ohio.“We’re having new companies that continue to come in, and permitting remains steady,” said Heidi Hetzel-Evans, a Natural Resources Department spokeswoman.

Another reason for the slowdown is logistics, in other words, pipelines. A regional pipeline network is in the works to alleviate some of the logistical concerns.

The good news is that wells in Pennsylvania and other states have produced so much natural gas that prices have dropped. If Ohio wells produce at comparable levels, natural gas prices could stay very low for the foreseeable future.

» Via: The Columbus Dispatch › Ohio shale drilling slows