Utica Shale investment clears $50 billion in Ohio
Monday, June 5, 2017
A Cleveland State University study found that overall Utica Shale investment in Ohio surpassed $50.4 billion from 2011 to June 2016, according to Kallanish Energy.
The estimated total includes $38.8 billion in upstream investment by oil and gas operators, $8.1 billion in midstream projects and $3.3 billion in downstream investment. The major investors have been Chesapeake Exploration ($7.39 billion), Gulfport Energy ($3.20 billion), Antero Resources ($2.31 billion), Ascent Resources Utica ($1.91 billion), and Eclipse Resources ($1.18 billion). Combined they spent over $16 billion during the 66-month timeframe.
The totals exclude spending on royalties, lease operating expenses, bonuses for undeveloped acreage and taxes.
Learn more: Kallanish Energy > Shale-related investment in Ohio tops $50.4B: study
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