Cleveland State / JobsOhio Study Finds Nearly $100 billion of Shale Investment in Ohio
CLEVELAND, OH- Today JobsOhio and Cleveland State University released their REPORT on shale-related investment in the state of Ohio. This report shows that the natural gas and oil industry has saturated Ohio with nearly $100 billion dollars of investment, with an investment of $2.5 billion dollars between July and December of 2021.
“Our natural gas and oil energy industry is something Ohioans can be proud of. This report shows not only all the work the men and women of this industry are doing, but the immense benefits that are brought to communities across Ohio,” said George Brown, Executive Director of Ohio Oil Gas Energy Education Program.
This is the 12th JobsOhio/CSU study on the natural gas and oil industry’s investments related to the Utica Shale formation. This report looks at upstream, midstream and downstream investment made by the energy industry. Since 2011, the study estimates a total of $97.8 billion has been invested in the state of Ohio.
Other highlights in the report:
$1.2 billion in royalty payments made to Ohioans, about 14% higher than in the first half of 2021
86 new wells listed by the Ohio Department of Natural Resources, a 16.2% increase from the beginning of 2021
Ascent Resources and EAP Ohio were the top producers during the time period in Ohio
“The cumulative investment in shale gas development over time has brought thousands of jobs to hard-working Ohioans and affordable energy to residential and industrial consumers,” said J.P. Nauseef, JobsOhio president and CEO. “Ohio has the resources, the regulatory environment, the talent, and the central location to continue to evolve as an international player in shale-related productivity.”
During the current energy crisis it’s important to celebrate the immense potential that lies in Ohio. The Utica Shale is an incredible economic tool for the state but furthermore provides our nation with reliable, affordable and essential energy.
The latest report can be found HERE.
About OOGEEP: The Ohio Oil and Gas Energy Education Program (OOGEEP) is a non-profit statewide education and public outreach program. Created in 1998, OOGEEP provides a variety of programs throughout the State of Ohio on behalf of Ohio’s natural gas and crude oil producers. The primary goal of these programs is to educate Ohio’s consumers and leaders by focusing on industry research, teacher workshops, scholarships, science fair, firefighter training, career and workforce development, landowner and guest speaker programs. Engage with us via OOGEEP.ORG, like us on FACEBOOK and follow us on TWITTER, INSTAGRAM and LINKEDIN.