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Townships in Guernsey, Belmont counties are Ohio hot spots for oil, natural gas

08/28/2015 | 07:08pm US/Eastern

Aug. 28--Guernsey County's Londonderry Township is the reigning hot spot for oil from Ohio's Utica Shale.

It is home to the Top 5 oil-producing wells in Ohio in second quarter 2015, according to a new report from the Ohio Department of Natural Resources.

All fives wells are owned and operated by Oklahoma-based Ascent Resources (formerly American Energy Utica), an Aubrey McClendon company. He is a former chief executive officer of Chesapeake Energy Corp. and a key player in development of the Utica Shale in eastern Ohio.

Guernsey County is Ohio's No. 1 oil county, followed by Carroll, Harrison, Noble and Belmont counties.

Belmont County's Smith Township is home to the Top 5 natural gas-producing wells in the second quarter of 2015.

All five wells are owned and operated by Pennsylvania-based Rice Energy Inc.

Belmont County is home to Ohio's Top 10 natural gas wells and 19 out of 20 of the top-producing wells for natural gas.

It has overtaken Carroll County as the No. 1 natural gas county in Ohio. No. 3 is Harrison County, followed by Monroe and Noble counties.

Chesapeake Energy is Ohio's No. 1 gas producer in the second quarter 2015. It beat out Gulfport Energy Corp., Antero Resources, Rice Energy and Hess Ohio.

Chesapeake was also No. 1 for oil production in the second quarter. It beat out Eclipse Resources, Ascent Resources, Gulfport Energy and Antero Resources.

Chesapeake has 506 wells, far more than No. 2 Gulfport with 137 wells and Antero Resources with 75 wells. No. 4 is Ascent Resources with 51 wells and Eclipse Resources has 44 wells.

Carroll County remains No. 1 for drilling with 370 wells. Harrison is No. 2 with 173 wells and Belmont has 107 wells, followed by Monroe with 87 wells, Guernsey with 82 and Noble with 81.

Locally, Portage and Stark counties each have two wells.

Overall, Ohio natural gas production grew by nearly 21 percent and oil production by 20 percent from the previous quarter, although there are warning signs that the boom may not continue.

The fear is that low commodity prices will soon start to slow drilling and cut production in Ohio. That is happening in other shale-drilling areas and could hit Ohio.

"When the crash happens, it's not like there's a shut-off valve, and production just stops," said Shawn Bennett, executive vice president of the Ohio Oil and Gas Association, a statewide trade group. "It's going to start gradually coming down."

Bob Downing can be reached at 330-996-3745 or bdowning@thebeaconjournal.com.

___

(c)2015 the Akron Beacon Journal (Akron, Ohio)

Visit the Akron Beacon Journal (Akron, Ohio) at www.ohio.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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