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Ohio oil and gas production on the rise

December 06, 2012
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COLUMBUS, Ohio — The production of oil and natural gas in Ohio increased by 4.1 percent in 2011 compared to the previous year, according to figures from the Ohio Department of Natural Resources (ODNR) in a report published recently.

The ODNR Division of Mineral Resources Management (DMRM) stated that in 2011 there were 460 wells drilled, which is 33 wells more than in 2010. Overall, wells were drilled in 42 of Ohio’s 88 counties, compared to 44 in 2010. Stark County topped the chart in terms of number of wells, with a total 40, including 38 productive wells at a development stage and two in exploration phase. Stark County was followed by Knox County, with 32 wells, and Belmont County and Muskingum County, each with 26 wells.

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The DMRM said that 365 reports on well completions were submitted in 2011, including 338 productive and 27 dry wells. Figures showed a completion rate of almost 93 percent, DMRM noted.

Crude oil production in Ohio came in at 4,852,964 barrels, up 1.4 percent on the total output for 2010. Over the course of 2011, it is estimated that Ohio wells produced 1.14 billion barrels of crude oil. The total value of crude oil produced in the state reached $437,055,240, a rise of 22.7 percent on the previous year. The average price per barrel in 2011 was 21 percent higher than in 2010 and reached $90.06, the report revealed.

Meanwhile, Ohio’s natural gas production for 2011 came in at 73,289,838 thousand cubic feet (MCF), 6.2 percent down on figures from 2010. The figure also includes approximately 725,642 MCF of gas used on the lease. Throughout 2010, wells across Ohio produced 8.6 trillion cubic feet of natural gas, worth a total of $310,659,568, down 14.2 percent from the previous year. The value of the natural gas used on the lease was not factored in the sum. In 2011 the average price per MCF was $4.28, a drop of $0.40 from 2010, the figures showed.

The report estimated that the combined value of Ohio’s oil and gas production in 2011 amounted to $747,714,808, or a 4.1 percent increase compared to 2010.

However, according to Vindy.com, the report does not represent the real state of the oil and natural gas industry in Ohio as it does not fully reflect its rapid growth. The industry grew at a fast pace throughout 2011 after the completion of the ODNR report. For example, according to the DMRM statistics there was only one well drilled in Columbiana County last year, but Vindy.com claimed that since then 24 more wells had been drilled in the county.

Similarly, the ODNR listed 24 wells that were drilled into the Utica Shale during 2011, whereas the latest figures show that 165 wells have been drilled into the Utica, according to Rhonda Reda, executive director of the Ohio Oil and Gas Education Program, quoted by Vindy.com.

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