Ohio’s Natural Gas and Crude Oil Exploration and Production Industry and the Emerging Utica Gas Formation
The Ohio Oil and Gas Energy Education Program engaged Kleinhenz & Associates to estimate the economic impacts of planned industry spending for the development of the Utica shale gas formation and update its 2008 study that examined the economic contribution and benefits of the natural gas and crude oil industry to the State of Ohio.
Ohio producers provided the state with 78 billion cubic feet of natural gas and 4.7 million barrels of crude oil in 2010. Ohio remains in the top half of natural gas and crude oil producing states and ranks sixth in number of producing gas wells. Since 1860, Ohio has produced over 8.5 trillion cubic feet of natural gas and 1.14 billion barrels of crude oil, worth approximately $124.4 billion at 2010 average wellhead prices.
Kleinhenz & Associates used a multifaceted approach to complete this study that included the use of a regional economic model and extensive efforts to gather data from a literature review, primary and secondary data collection, interviews and analysis.